VC Platform—resources that VC funds dedicate to helping their portfolio founders—has become a big trend in recent years. I’ve always harboured a concern that Platform was a solution in search of a problem, mainly because (i) founders rarely bring up their value, and (ii) platform managers are openly trying to figure out how to add value.
That was until I heard a point of view from a female founder. ‘Platform is about diversity,’ she said with conviction. ‘It provides privileges—like network and support—that were previously unequally available to certain groups. That allows investors to invest in a more diverse pool of companies.’
It’s hard to fault that logic; the problem the VC is trying to solve is its own. It’s not clear whether Platform will be a real differentiator to founders, but if it can help increase diversity in VC investments and support founders in need, that may be good enough.
I've worked with a number of VCs that have 'Platform's', and have heard quite a few founders reference the platform as a key reason for choosing one VC over another. Whether actual value is added by the platform post-investment is another story, but I think beyond a reasonable doubt they help VCs win contested deals.