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Index Ventures — a firm with investments in companies like recent IPO Dropbox, a series of successful gaming companies like King, and others including Slack and coming IPO Zuora — has seen a lot of moves in the past few months.
There was the departure of partner Ilya Fushman earlier this year, but the firm also brought on Sarah Cannon from CapitalG as one of their recent big hires. Index has also promoted former Dropboxer Mark Goldberg to partner. Prior to joining Index, Cannon led investments in companies like Looker, MultiPlan, Oscar and Care.com. Cannon will primarily be focusing on growth stage, and is also now a board observer for Slack. Goldberg has been at the firm for around three years and worked on deals like Nova Credit and CoverWallet.
Partners - Plans - Parts - Venture - Ecosystem
We sat down with the two new partners to discuss some of their plans, as well as some broader parts of the venture ecosystem. Here’s the interview, which has been lightly edited for clarity.
TC: What does the investment committee decision process look like these days?
Mark - Goldberg - Stage - Partner - Presentation
Mark Goldberg: In the last stage, we have a partner presentation, where the entrepreneur presents and we debrief. Then it’s a vote at the partner level. Everyone votes 1-10, and if it’s over 7 it’s approved. If it’s between 5 and 7, it’s the sponsor discretion. On average it’s around in the seven range. Some partners always rank lower, their most enthusiastic is at 8. It ends up being a pretty intellectually honest discussion, every vote is the same. I’ve worked at other funds before, and it seems like it becomes more of horse trading. This feels like a constructive debate, we operate as one team. It’s also 6:30 a.m. pacific on Mondays, so there’s that.
TC: When working with entrepreneurs, how do you keep them moving forward —...
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