Most venture capitalists at the seed stage don't invest in companies. Rather, they invest in people, who may have little more than an idea and a business plan scrawled on a cocktail napkin. Seed-stage investing carries the highest risk in all of venture capital, but those who excel can make huge returns on their relatively small investments, which attracts a growing number of people and firms to the industry. And by analyzing data, there are a few of them that have the skills it takes to succeed year after year.
