Venture capital firm First Round Capital has just launched its own online publication for entrepreneurs.Venture capital is a subject that can cause both relief and anxiety, often at the same time, in the hearts of entrepreneurs. Increasingly, partners at venture capital firms are trying to help and to alleviate some of the anxiety by offering advice to entrepreneurs and creatives. It also doesn’t hurt as a PR move. There is a certain amount of competition to be perceived as the most “user-friendly” firm among venture capitalists.
My friends at First Round Capital have made the move into online publishing with their “First Round Review,” an online publication that promises “actionable knowledge” for entrepreneurs. According to First Round partner Josh Kopelman, “our (modest) goal is to build the Harvard Business Review for startups.” Kopelman goes on to say that “First Round Review” is meant to be a different kind of venture capital publication. Instead of publishing the perspectives of its members, it will offer views, opinions and advice directly from successful entrepreneurs.
An alternative view of the growth of venture capital blogs is that firms need to enhance their visibility to remain relevant. In an era when many start-ups don’t require large infusions of cash (and many startups don’t offer huge potential returns), venture capital firms need to reinvent themselves to remain viable. Startups increasingly are raising smaller investments from angels and through crowdfunding.
Some of you may be asking how venture capital relates to content creation. The answer is simple. These days content creators are increasingly becoming entrepreneurs, whether by choice or necessity. The opportunities to create your own brand or company are tremendous. Increasingly, it’s also become a necessity. Permanent gigs are few and far between. If you’re a content producer you need to think like an entrepreneur to stay in business.
First Round’s publication is a welcome addition to the many venture capital blogs out there. Prominent venture capital bloggers include: Fred Wilson of Union Square Ventures, Chris Dixon of Andreessen Horowitz, and Brad Feld of TechStars.