VC 3.0 and the Democratization of Venture Capital

Steve Case, founder of AOL, and early evangelist of ‘rise of the rest’ cities, posited recently in an interview that we are now living in the third wave of the Internet. “First-wave companies like AOL were building the on-ramps,” argued Steve. “The second wave was building apps and software on top of the internet–think Facebook. This third wave is when the internet meets the real world. And it’s healtcare, it’s food and agriculture. These are big parts of our economy, and the domain expertise in those sectors and the partnerships you need to form to be successful in those sectors are often in the middle of the country, not on the coasts.”

Internet 3.0, meet VC 3.0

1960–2001: The VC 1.0 era

2001–06: VC 2.0 comes into its own

2010–2015: The super-angel era and the birth of micro-VC

2015-present: VC 3.0 comes into view

Global tech products require globally-oriented VCs