We believe the venture capital business is a services business and the entrepreneur is the client. Over the past few years we have come across a number of entrepreneurs who we would have loved to work with but who had specific capital needs we could not satisfy with our fund structure.
Over the past several months we fixed that and we now have an additional tool in our toolbox. We call it The Opportunity Fund and we've described it and how it will work on the USV blog this morning.
I'm very excited to have this additional flexibility and I am also very excited to be able to call John Buttrick a partner. John has been hanging around USV from the very start, advising us, and supporting us in so many ways. He will make us even better investors and partners for entrepreneurs. Which is a great thing.
