Dave McClure, the founding partner of 500 Startups, wants his investment shop to be the biggest venture capital shop in the world and is confused that the firm is now larger than 500 startups. It’s more like 1,000 startups, he said.
What might be hubris coming from any other investor is a simple statement of fact for McClure. “We intend to be the largest VC firm on the planet in the next five years,” he told TechCrunch’s Mike Butcher today at Disrupt NY. “I think VC firms, surprisingly, are all about investing in scalable businesses, and yet the VC industry hasn’t been.”
500 Startups has certainly been scaling. Over the past five years McClure’s shop has grown from an early-stage accelerator program to a full-fledged venture shop with $170 million in assets under management through three main funds and six microfunds.
That money is managed by a 50-person-strong staff (half of…
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