????對于有限合伙人,，這些概率無一足以推導(dǎo)出系統(tǒng)性策略。對于一般合伙人,，很多策略都可能起作用,。我很高興把錢投到了500Startups（仍在不斷嘗試之中，但效果令人振奮）,、首輪資本,、Atlas Venture、星火資本和A16Z等風(fēng)投,，覆蓋了企業(yè)發(fā)展的完整曲線（誠然,，更傾向于新的風(fēng)投經(jīng)理）。

????我不信奉大基金,，因為我不知道如何才能有效地運營一只大基金,。我們相信，有限的資本是件好事,。因此,，我喜歡較小的早期基金，平等的經(jīng)濟(jì)利益和團(tuán)隊意識將所有的合伙人凝聚在一起,。我支持比爾?格利的觀點,，而且基準(zhǔn)資本的表現(xiàn)一直令人振奮。我不是說恩頤的策略不起作用,?；蛟S也管用。

????但這不是我的策略,。

????弗雷德?德斯丁是Atlas Venture風(fēng)投公司的波士頓合伙人,。這篇文章最初發(fā)布在他的博客上。

????譯者：早稻米

????See, for the LP, none of these odds are good enough to derive a systematic strategy. And for the GP, many strategies will likely work. I'd happily put money in, say, 500Startups (an experiment to be sure, but an exciting one), First Round Capital, Atlas Venture (wink), Spark Capital and A16Z, thereby covering the entire curve style (admittedly with a bias to new managers).

????I am not a believer in big funds because I would not know how to run one effectively. We've found capital constraints to be a great friend. So I am perfectly happy with a small-ish early fund where all partners are aligned through equal economics and a desire to make it as a team. I'm in the Bill Gurley camp, and Benchmark has always been an inspiration. But I won't be the one telling you the NEA strategy won't work. It might.

????It's just not my strategy.

????Fred Destin is a Boston-based partner with Atlas Venture. This post originally appeared on his blog.