The Rise of the Operator-Investor (And Why I’m Trying to Be One)
In venture capital, there’s a long-running tension between the “pure” investors and the “operator” types — the ones who’ve been in the trenches building companies before putting money into them.
For years, the default profile for a VC partner was a finance background, a consulting pedigree, or a previous run in tech. But more and more, I’m seeing (and meeting) people who blend investing with actual operating experience — not decades ago, but in parallel with their investing work.
I think that’s a good thing. And it’s the direction I’m trying to go in myself.
Why the Operator-Investor Model Works
When you’ve sat on the other side of the table, you tend to look at startups differently.
You know what it’s like to:
Make decisions with incomplete data
Prioritize when every choice has a tradeoff
Juggle fundraising, hiring, and execution at the same time
Feel the difference between “interesting technology” and “shovel-ready opportunity”
That perspective doesn’t make you a better investor by default, but it can make you more useful — to both your portfolio companies and your own investment decision-making.
Where I’m Coming From
I spent more than a decade in big pharma operations, where execution, risk management, and systems thinking were the job. In the past year, I’ve been able to:
Lead a biotech spinout (Theranzyme) through its early commercial planning
Advise startups in biotech and biomanufacturing on market strategy, partnerships, and funding
Work inside a corporate venture capital team (MANN+HUMMEL Ventures) doing diligence, sourcing, market intelligence research, and competitive landscaping
Collaborate with a venture firm (Fair Winds Capital) that blends investing with fractional CXO work
It’s been a crash course in what it’s like to both evaluate companies and help build them — sometimes in the same week.
Why Founders Value It
Most founders I’ve worked with don’t need a Monday morning email telling them their “growth curve isn’t steep enough.” They need:
Someone to reality-check a budget or financial model
Introductions that are actually relevant
Help refining their positioning before a pitch
An outside perspective on which opportunities are worth chasing now versus later
An operator-investor can step into that role without overstepping. The best ones listen first, offer help second.
Why I’m Leaning Into It
I’m not trying to be just an investor, and I’m not trying to be just an operator. The value, for me, is in the mix:
The investor side sharpens my pattern recognition and forces me to think in portfolio terms.
The operator side keeps me grounded in execution, reality, and the messy day-to-day of building.
Blending both keeps me from drifting too far in either direction.
Final Thought
The rise of the operator-investor isn’t about inflating titles or making VC sound more “hands-on” than it is. It’s about showing up with skills and perspective that founders actually find useful — and making better investment decisions because of it.
That’s the lane I’m aiming for. And so far, it feels like the right one.
