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Liam Donohue

Venture capital exploded in 2014, with bigger deals and more eye-popping valuations than anytime since the dot-com boom. So what happens next, and which opportunities will define 2015?

We asked several venture capital investors to reflect on the past year and give us their outlook for the next 12 months. Next in our series is Liam Donohue, founding general partner of .406 Ventures. Mr. Donohue talks about the new sources of capital for startups, differentiating between great companies and those that are overhyped, and perceptions of VCs by early-stage entrepreneurs.

Image: Liam Donohue, founding general partner of .406 Ventures