Based in Germany
Fund some companies like
* del.icio.us
* photolog.net

What is Venture Capital?
* need money to get started
* manage money for other people
* buy a part of your company in exchange for money
* bet we're making is that 2 years down the road, the company will be successful and gets acquired
* in most cases, it doesn't work out, but you make the money back on the big wins
* 10x money, some that you make even, and the others you lose money
* similar to publishing
* publishing out of 10 books, 1 is successful, 3 - 4 OK, the rest not
* been around in the US since the 1960s
* issues with investments in the early 90s, making money was based on big banner ads or subscriptions -- annoying to users
* these days, better user experience
* Three business models (yeah, I missed the first two)
** 1
** 2
** 3 - emerging in Korean, virtual item stuff
* you have a room, and you can drop in a couch, flower, etc. and pay for it
* digital assets degrade, you have to buy again
* ways to monetize without pissing off users
* what are we looking for in a piece of software, or an online service
* disruptive, not easier to replicate
* on the Internet, very different
* look at del.icio.us -- not hard to replicate
* now looking at community: one that is staying, and growing fast
* taking the Alexa ranking, not necessarily perfect
* are people interested in using it, rather some other generic service
* 2 years ago, no one would give you money if you didn't have revenue
* today, if you have a service that people are using and have growth curves, you can get money relatively easy
* christian AT bvcapital.com