My friend Austin announced yesterday that his company, Blockstream, just raised a $ 21M ‘seed’ round. While I was checking out their website to learn more about his company, I noticed that Austin is one of eleven co-founders. That got me thinking, how many co-founders should you have? Is there such a thing as too many?
Back in my VC days it was prevailing wisdom in our fund that we would not invest in companies led by a sole founder. Why? Being a founder is tough. You need a partner in crime. You need someone to live through the highs and lows with. And investors need that too. We can’t place all our hopes on one person.