VCJ: If you could only invest in one VC fund today, what would be the one fund you would invest in?
John: The problem I have with that answer is I think five years from now when we look back and say, “Which are the great funds?” There’s going to be a huge change in the list.
VCJ: Do you have a short list?
John: That’s at about 25, purposefully. I think we’ve got about a 50/50 chance of being right that one of those will be No. 1, but we’ll see. I’ve got a larger list on the downside. I’d put my name on Northbridge as a dark horse. If you gave me two, I’d also take Three Arch.
Paul: I would say there’s a couple of top names like Sequoia, Kleiner Perkins and Benchmark. I think those are obvious. I think the dark horses are groups like Foundation Capital, and I think one that is even less obvious that teeters on the line between the venture space and the buyout space is something like Silver Lake Partners.
Richard: I’d pick Accel or Kleiner Perkins.
George: Yeah, Kleiner Perkins also came to mind.