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Our reasons for passing on these investments varied. In some cases, we were making a conscious act of generosity to another, younger venture firm, down on their luck, who we felt could really use a billion dollars in gains. In other cases, our partners had already run out of spaces on the year’s Schedule D and feared that another entry would require them to attach a separate sheet.
Bessemer Venture Partners’ anti-portfolio
The companies Bessemer passed on. Fly-by-night operations like Apple, Ebay, Google, FedEx, Intel, Cisco…. Actually, what’s most fascinating are the notes about the early entry terms. I’m beginning to think it would be kind of amusing to be a VC or angel investor.
