In the 1980s, venture capital firm Sequoia set a tone for the tech investing industry with a Silicon Valley-first mantra: if we can’t ride a bicycle to it, we won’t invest. Today, that motto’s playing out a bit differently: on the streets of New York City, over Citi Bike.
“I think every firm will have a New York office in the next 18 months,” one partner at a prominent Sand Hill Road firm without such a presence confided (anonymously) in the Midas Touch newsletter this past weekend. “Every single firm is talking about it.”