I too believe that venture capital is about people capital but from a slightly different angle. It is about getting founders and teams the human capital knowledge they need to succeed and to get started in the first place. It is about fixing education for non-business people to enable them to be competent as CEOs and other roles they did not train for. It is about founders finding the right mix of personalities and ideas to no implode the startup as most of the reasons for failure point directly or indirectly at the founder mix. So for me it is about investing in the right mix of founders with the right business basis and their innovation to boot — and this requires human capital to invest in their training and development as a do it all founder! This is why I wrote http://bit.ly/fixvc because I believe the investment system particularly the VC system has to change and use more of the technology being created to improve the dreadful failure rates!