Will Quist

Will Quist: Why 95% of Venture Capital is Not Really “Venture Capital” | 20VC #924

Will Quist, Harry Stebbings, Don Valentine

Will, a sixth-generation Bay Area native, launched SLO after a decade at Industry Ventures to challenge an industry he argues has abandoned true venture for consensus-driven growth capital. Operating with a "Special Forces" approach for early bets, the firm applies Charlie Munger's five enterprise value levers to identify founders and markets capable of converting hypotheses into first-party data. SLO remains a focused classic venture firm committed to avoiding multi-stage dilution while educating the market on which business models genuinely require venture funding.