Over the last decade, a wide consensus has emerged regarding the changing structure of the venture capital industry. For example, with a few notable exceptions, most traditionally structured venture capital firms have delivered uninspiring returns. This has not only led to a significant decrease in the number of venture capital funds, but also has steered many funds toward the less risky and growth stage companies. Declining expectations stimulated remaining funds to focus on companies founded by serial entrepreneurs with considerable track records. While this trend resulted in a significant increase in the returns to investors, it also created a “funding gap” in the development of early to mid-stage companies. According to this perspective, the solution to the funding, investment and liquidity gaps is for new sources of capital—be they government, corporate or crowd—to provide founder-entrepreneurs with capital, capacities and connections that allows them to start, scale and grow their businesses.