Instead of building a platform team of specialists, Eclipse operates like a small special forces unit. A lean team of senior partners, all ex-operators, handles everything from thesis creation to scaling companies. This ensures founders get direct support from proven builders, not junior staff.

The most effective operators, dubbed 'dolphins,' can fluidly move between altitudes: operating strategically at 10,000 feet with founders, managing at 5,000 feet, and executing tactically in the weeds at 1,000 feet. This ability to oscillate is a key trait to hire for, especially in advisory or early-stage leadership roles.

To win highly sought-after deals, growth investors must build relationships years in advance. This involves providing tangible help with hiring, customer introductions, and strategic advice, effectively acting as an investor long before deploying capital.

To maximize value creation, young private equity firm Teopo Capital made a strategic decision to hire a full-time operating partner dedicated to portfolio companies before building out a fundraising team. This signals a deep commitment to hands-on operational improvement as their core strategy.

VCs with operator backgrounds can provide a unique type of support, acting as a "favorite uncle." They are a safe sounding board for sensitive, human-centric challenges like layoffs, where founders may hesitate to speak with board members who are solely focused on growth metrics.

The hardest transition from entrepreneur to investor is curbing the instinct to solve problems and imagine "what could be." The best venture deals aren't about fixing a company but finding teams already on a trajectory to succeed, then helping change the slope of that success line on the margin.

Unlike operating companies that seek consistency, VC firms hunt for outliers. This requires a 'stewardship' model that empowers outlier talent with autonomy. A traditional, top-down CEO model that enforces uniformity would stifle the very contrarian thinking necessary for venture success. The job is to enable, not manage.

The transition from a C-suite operator managing thousands to an investor is jarring. New VCs must adapt from leading large teams to being individual contributors who write their own memos and do their own sourcing. This "scaling down" ability, not just prior success, predicts their success as an investor.