I have 20 years experience in biotech at Genentech, this is where I met my candidate partner. Are we over-indexed in biotech? should we scout in network for someone with experience in a separate industry?
It is critical that founding partners have a long history of working together prior to starting a VC Firm. A VC Firm is a 15+ year endeavor and it's imperative that the founders have tested their relationship prior to this massive challenge. With respect to specialization, the skillsets of the partners should complement the thesis of the fund.