May 2023

Midas List 2023 Reflections

What the 2023 Midas List says about how venture capitalists are communicating

In 2023, there were 46,000 VCs registered in the world (or enough to fill Madison Square Garden, twice).

The industry has transformed from an artisan’s guild to a gigantic, unruly mob jostling for attention. But ask most venture capitalists and they will tell you that there are only three things that matter to them — founders, LPs and (to a lesser extent) other VCs — but the jury is still out on how best to communicate with them.

To contribute to this debate, Milltown Partners took a data-driven approach to understand how some of the most successful investors approach communications — using the 100 investors on the 2023 Forbes Midas List as a benchmark.

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