Draper Fisher Jurvetson partner Steve Jurvetson reveals what he looks for in entrepreneurs and explains how large companies can respond to disruption.
What do venture-capital firms look for when they back entrepreneurs? With billions of dollars flowing into start-ups around the world, that question has never been more important, nor the answer more consequential. Silicon Valley venture-capital powerhouse Draper Fisher Jurvetson has backed almost two dozen unicorns—start-ups valued at more than $1 billion—including Box, Skype, Tumblr, and Twitter. In this interview, one of the VC firm’s founding partners, Steve Jurvetson, tells McKinsey’s Michael Chui what he looks for when he makes investment decisions, what he considers hot sectors, and what could be the biggest start-up of all: space. An edited transcript of their conversation follows.
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