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Venture capitalists buy minority positions in young companies they think will grow quickly; buy-out investors buy most or all of companies they think can be turned around by fixing a few basic things.

If your business had no risk, you could go get a bank loan and call it a day. VCs like risks - without them, venture capital wouldn't exist. But they need to be risks that VCs are good at assessing and managing.

Every venture capitalist says at some point, 'I wish I could run this company myself' - to be the entrepreneur instead of the investor.

VC firms are... responsible for the full life cycle of a company: they find it, help it grow, open up a Rolodex, and sell it.

A startup for entrepreneurs is like a baby, and I have five babies so far - experienced father.

There are immense numbers of potential entrepreneurs who can start their own businesses among the people who are working in large organisations.

We worked personally with a lot of great VCs. They just work incredibly hard at supporting entrepreneurs and their companies.

Understand that VCs are simply a sophisticated form of financial investors who, in turn, need to satisfy their own investors.

You need to begin to network with angels and VCs while you are still ideating. It is easier to ask someone you know for funding than a stranger. Build your financial network by attending as many industry functions and reaching out for advice from experts online.

I'll say this: I can't think of one instance in my 20 years in venture capital in which I have wanted to sell a company before the entrepreneur.