VC scout programs moved from rarity to mainstream in the mid-to-late 2010s. A decade ago, only a few firms (Sequoia, later First Round, etc.) quietly used scouts, but by 2019 industry observers noted “anyone not a scout these days?” – a tongue-in-cheek reference to how common the practice had become . The tipping point was around 2015–2017: that period saw firms like Lightspeed, Accel, GV, and others launch scout initiatives, inspired by the early successes and competitive pressure not to miss out on seed deals. By 2020, even mid-sized and newer funds had some version of a scout or angel partner program.
For example, Accel introduced its “Starters” scout program in the US in 2017 and expanded it to Europe by 2021, openly recruiting around 20 seasoned operators as scouts with $200k each to invest . Around the same time, Andreessen Horowitz, Index Ventures, Greylock, and many others were running or experimenting with scout networks. In Europe specifically, scout and angel programs became “all the rage” by 2021, with even secretive funds like Hedosophia and corporate venture arms adopting the model . Essentially, in the span of a few years, the practice went from novel to standard toolkit for VC firms globally.
The takeaway is that by the late 2010s, having a scout program was seen as a competitive advantage – almost a necessary extension of a firm’s sourcing strategy. Scouts became mainstream as firms observed peers getting into great deals via scouts and didn’t want to fall behind. For founders and operators, this also normalized the idea of doing a stint as a scout as a pathway into venture. A career-switcher in 2020 might actively seek a scout role, whereas in 2010 that path was barely visible.
However, with mainstream adoption came more scrutiny. A nuanced point is that as everyone jumped on the scout bandwagon, questions arose about efficacy and ethics. Some industry voices began to ask whether these programs truly benefit founders and scouts or mainly the VC firms (for example, concerns about signaling harm to startups if the VC doesn’t follow on) . Thus, while scout programs are now commonplace, the conversation has shifted to optimizing their design – ensuring they add value for all parties and addressing pitfalls that early adopters didn’t publicly discuss when scouts were more hush-hush.
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VC firms launched scout programs to widen networks, spot startups sooner and secure inexpensive early exposure to breakout companies before competitors.
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Product managers and engineers often become VC scouts by leveraging domain insight and networks to spot startups and write tiny checks that build an investing track record.
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Scouts win deal flow by mining accelerators, product-launch sites, dev communities, Slack groups, AngelList, hackathons and university incubators beyond personal networks.
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Early scout programs drew criticism for secrecy and conflicts – founders risked negative signaling and scouts had little skin in the game, sparking calls for more transparency and alignment in these arrangements.
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By the late 2010s scout programs went mainstream, with most major VC firms and many smaller ones adopting them – a rapid shift from a niche practice to an industry standard for sourcing deals.
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Notable early VC scouts include Jason Calacanis (who sourced Uber for Sequoia) and Sam Altman (who scouted Stripe), along with founder-scouts like Airbnb’s Brian Chesky – all leveraged their networks to spot huge deals.
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Sequoia’s scout program famously scored hits like Uber and Stripe from tiny early bets, proving that empowering external scouts can yield outsized venture returns.
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VC firms use scouts to widen their deal funnel – an efficient way for large funds to scan early-stage startups via trusted networkers, ensuring they don’t miss the next big thing.
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Once a secret weapon used quietly by a few firms, VC scouts have become a structured, global phenomenon – with formal programs, cohort budgets, and a recognized pathway into venture.
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Both types of scouts have as their main goal to source new startup deals to invest in. lInternal VC scouts are usually part-time or full-time employed as an intern, researcher, associate, or junior partner. External scouts are not officially employed by the investor and are usually compensated on a deal-by-deal basis.
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Venture scouts are resourceful connectors that may assist venture capital firms in discovering hidden, exceptional startups and founders to invest in ahead of the competition.
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Yes, you can. In fact, unless you're independently wealth, you should work while being a scout to sustain a living.
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Having investment experience is not a requirement to start a role as a VC scout. So for example you don't need to have a history of investing your or other people's money in startups.
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Broadly speaking, the answer is no. You do not have to be an accredited investor to be a startup scout.
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As a VC scout, you can expect to have a different compensation or salary based on the firm you work with. Options include cash on deal completion, cash for relevant intros, startup equity proportional to the investment, and your own micro-fund.
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A VC scout is a part-time talent spotter who sources startup deals for a venture fund, investing small amounts and earning a share of the profits.
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