how to be a VC?
myoung8: Assuming you want to be a VC:1. set up a limited partnership (LP)--you'll need a good lawyer for this
2. word of mouth is how the business operates for the most part, but you could gain some exposure by hosting/judging at business plan competitions (e.g. Stanford's BASES Social E-Challenge, which is coming up--they're still looking for judges I think and I know the guy in charge, so let me know if you want to be put in touch)
3. Money needed = (# of boards you want to/can reasonably sit on * average amount of money you want to invest in a startup) + miscellaneous -- most VCs make 1-3 new investments per year in the $1-$10M range, so you would probably need about $30-$50M to have a reputable fund
4. major gotchas: VC investing isn't all about the money, it's really a people business. they spend 70% of their time talking to people, most people that can help their portfolio companieslike jgrahamc said, if you don't have a lot of time, you probably shouldn't be a VC, look into angel investing. if you're really serious about it, try to get in touch with Ron Conway or Mike Maples, they're two of the best known angels in the Valley.