Norris spent a year at real-time call tracking and phone analytics business Iovox, and two years before that at online holiday apartment booking website House Trip.
He said, “The VC model is changing. There have been a few VCs that I’ve worked with that have management experience in internet businesses.
“However they are the exception. Many VCs know only of their startups through board meetings and conversations with CEOs and their senior teams.
“They are not involved in the nitty gritty of getting stuff done. The next generation of successful VC firms will combine robust investment experience with practical operational experience.
I’m not sure who said it, but it’s a favourite maxim of mine, ‘Vision without execution is hallucination’.
“If VCs can help entrepreneurs with execution (and I mean really help, not just the odd intro to another portfolio company or refining pitch decks for the next round) and we can do it early in the life stage of the company, we can become real springboards for success.
“There are few VC firms in the US taking this approach and at Forward Partners we intend to lead with this approach in the UK and reinvent venture capital.”
Last June Forward Partners, the venture capital arm of Forward Internet Group, hired experienced DFJ Esprit partner Nic Brisbourne after seven years at the US firm.
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