The Only 14 Lessons You Need From 14 Years in VC

Jan de Vries · 2026-07-27

Venture capital is one of the most varied industries out there. Very few careers let you jump between sectors, immerse yourself in the latest tech and trends, or meet some of the most talented people around – all as a routine part of the job. I was lucky enough to do it for fourteen years. I would have needed to walk around with my eyes closed and fingers in my ears not to learn a thing or two. Now that I’ve stepped back from making investments into a role designed to support the next generation, it felt like a good time to reflect. So I thought I’d share a lesson per year (which is really just a convenient way to whittle down what otherwise could have been a memoir). Here are some things I hope fellow investors, budding founders, and anyone curious about the ecosystem might find useful. ### 1. Be the Last to Leave I don’t mean the office. I mean be the last person to leave the investor dinner, the networking drinks, the launch party. Of course, there’s a balance to be struck. And with childcare and other commitments, this might not be practical at every stage of your career. But, where you can, there’s no shame in sticking around or indulging in a few more drinks every now and then. I think people can be too self-conscious and worry about being seen to have “too good” a time at a work event. An occasional bit of light-hearted merriment isn’t going to end your career, and I find that most honest conversations happen when the crowd thins and guards are down. So don’t rush home in fear that the welcome prosecco might actually have an effect. ### 2. Never Underestimate Your Network Your network is far bigger than the people you see or speak to regularly. When you think about how many people you know tenuously, at one remove, or through one random conversation at a conference five years ago, it’s vast. Make use of those looser connections. Some of the best opportunities in my career (including my current role) came through people I had no idea would help me as much as they did. ### 3. The Ecosystem Is Smaller Than You Think Your network might technically be infinite, but the ecosystem is always a smaller place than you think. Just as your reach extends further than you realise, the reverse is true – people will know of you indirectly and reputations exist for a reason. It’s not your closest industry friends who decide what yours is; it’s the people on the periphery who spread the sentiment outwards. Make sure you’re giving them something good to pass on. ### 4. Informal Intel Can Be Most Valuable A big part of my job as an LP was conducting due diligence on a fund before making an investment. Some of the best decisions I ever made came from sleuthing through “informal” channels – getting intel from people who trusted me enough to confide the truth rather than the party line. It’s been the reason I have, and haven’t, made investments in the past. ### 5. Due Diligence Isn’t Just for Investors Due diligence is not just for investors, of course. To founders, I’d say understanding who your backers are and what they bring to the table is just as important as impressing them. Ask around, get the inside track. Be discerning, be “choosy” even. Your cap table is yours and it should help you thrive, not just survive to the next raise. ### 6. EQ and IQ Are Equally Important This is a people business. Whether you’re a founder building your team or a VC trying to support your portcos, being able to manage and communicate with people is crucial. You don’t need to be the best speaker or a social butterfly, but you do need to have empathy – and respect and reward it in others. ### 7. Diversity and Excellence Are Not Mutually Exclusive Diversity for diversity’s sake doesn’t deliver lasting change. I’m resolute in my commitment to building a fairer, more diverse ecosystem, but this doesn’t come at the expense of pursuing excellence. Real progress doesn’t come through abstract commitments or friendly gestures alone. It comes from intentional action that pairs inclusion with high standards. When you create a culture where different perspectives are heard and valued, you don’t lower the bar—you raise it. The best teams I’ve seen are those that combine cognitive diversity with a shared drive for excellence. ### 8. Trust Your Gut, But Verify In VC, you’ll hear a lot of advice about data-driven decisions. And that’s important. But some of my biggest misses came from ignoring my gut. If something feels off about a founder, a market, or a term sheet, it probably is. That said, don’t act on intuition alone. Use it as a signal to dig deeper, not as a final verdict. Combine instinct with thorough research, and you’ll make far better calls. ### 9. Timing Is Everything A great idea at the wrong time is still a failed investment. I’ve seen brilliant startups fail simply because they were too early or too late to market. Pay attention to macro trends, regulatory shifts, and consumer readiness. Sometimes the smartest move is to wait—or to pass entirely. The best VCs aren’t just good at picking winners; they’re good at knowing when to place their bets. ### 10. Don’t Fall in Love With Your Portfolio It’s easy to get attached to the companies you’ve backed. You’ve spent time, money, and emotional energy on them. But attachment can cloud judgment. When a portfolio company is struggling, you need to be honest about whether it can recover or if it’s time to cut losses. Knowing when to walk away is as important as knowing when to double down. Treat each decision with fresh eyes, not nostalgia. ### 11. Learn to Say No Gracefully You’ll get pitched hundreds of times a year. You can’t invest in everything. But how you say no matters. A respectful, thoughtful decline can leave the door open for future collaboration. I’ve seen founders I turned down go on to build massive companies—and they remembered who treated them well. Build a reputation for kindness, even in rejection. ### 12. The Best Founders Are Learners I’ve invested in founders from all backgrounds, but the ones who consistently outperformed were those with a growth mindset. They weren’t afraid to admit what they didn’t know, and they actively sought out advice and mentorship. In a fast-moving industry like tech, the ability to learn and adapt is more valuable than any specific skill. If a founder is arrogant or closed off, that’s a red flag. ### 13. Your Reputation Is Your Currency In a small ecosystem, your reputation precedes you. Every interaction—good or bad—gets remembered. Be honest, be reliable, and be generous with your time. The people you help today might be the ones who open doors for you tomorrow. I’ve seen careers made and broken by a single bad deal or a single act of integrity. Guard your reputation like it’s your most valuable asset, because it is. ### 14. Enjoy the Ride This might sound cheesy, but it’s true. Venture capital is a marathon, not a sprint. There will be highs and lows, wins and losses. If you’re not enjoying the process—the meetings, the learning, the relationships—you’re doing it wrong. The best investors I know are genuinely curious and passionate about what they do. They find joy in the journey, not just the exits. So take a breath, celebrate the small wins, and remember why you started.