In the Internet domain, we have seen the power of these Keiretsu, and we work to build the network and foster partnerships. Our annual CEO and CTO Summits were formed to serve this end, as well as our Schmoozefest party, and facilitated meetings between selected subsets of our companies. Since 1994, we have invested more Internet companies than any other independent VC firm. We extend the network with affiliate offices in 12 U.S. cities as well as Hong Kong, Singapore and London. When we invest, we bet on the people and their ability to sell the vision and execute.
Deals are never static entities.
The same is true for company partnerships. Good people can maintain and nurture good partnerships. Just like as a referenceable account helps in subsequent sales, a win-win partnership helps close subsequent deals. Four11, RealNames and Direct Hit were masters at maintaining multiple partnerships. Deals are most frequently done because of personal relationships, either direct or one-step removed.