Entrepreneur-in-residence (EIR)

Definition

A person working inside a VC firm, usually a former founder, between startup gigs. The VC equivalent of being on a really well-paid bench.

Example Usage

I'm an EIR at Andreessen Horowitz right now, which is code for 'I'm looking for my next startup idea.'

Origin

Formalized role at venture firms in the 2000s to attract experienced founders

Fun Fact

Many successful startups have been founded by EIRs who identified opportunities while being 'inside' the VC firm.

Source: Venture capital and startup ecosystem terminology

Related Terms

Intermediate

Wedge Strategy

Starting with a narrow, focused product in a niche market, then expanding horizontally once you dominate that niche—the startup version of 'start small, think big.'

🚀 Startup / VC

Intermediate

dilution

The soul-crushing moment when a startup issues new shares, and existing shareholders watch their ownership percentage shrink faster than a wool sweater in a hot dryer. While you still own the same number of shares, you now own a smaller slice of the pie—assuming the company actually grows enough to justify the dilution. It's the price founders pay for other people's money, and the reason early employees cry into their vested options.

🚀 Startup / VC

Beginner

Series A, B, C

Sequential institutional funding rounds designated by letters, theoretically indicating maturity but practically just measuring how much money you've convinced people to give you. The alphabet of ambition.

🚀 Startup / VC

Beginner

fundraising

The noble art of convincing individuals, corporations, and foundations to part with their money for your cause, institution, or startup dream. In education, it's what keeps universities building new buildings with donors' names on them. In nonprofits and startups, it's a full-time job disguised as networking events and carefully crafted pitch decks.

🚀 Startup / VC

Beginner

advisor

Someone who receives equity for occasionally responding to emails and allowing you to use their name on your website. The advisor-to-impact ratio is the lowest in all of business, yet every startup has seven of them.

🚀 Startup / VC

Beginner

value

The startup founder's obsession—that magical unicorn metric combining customer benefit, market size, and the ability to eventually turn a profit (someday, maybe). Investors worship at this altar; users actually experience it.

🚀 Startup / VC

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