Most of their job actually consists of having coffee dates, as well as looking like an impressive, put-together "thought leader".
A rank & file VC is essentially a salesman. Their job is to understand everything that's going on in their sector, and have warm intros available so they can sell the founders of the actually-promising startups on having their firm invest. In general, you don't do this in the office. You get out and meet lots of people in the industry.
Likewise, if you're a founder going into fundraising mode, your full-time job is to be a salesman. You go out and meet lots of investors and blow shit up their ass so they all believe you're the next hot thing, and then you play them off against each others so they keep escalating their termsheets. I've had founders tell me that everything you do in the fundraising game is performative - you should treat it like a months-long acting gig where everything you do is designed to elicit the desired emotional reaction to get investors to open their portfolios.
A rank & file VC is essentially a salesman. Their job is to understand everything that's going on in their sector, and have warm intros available so they can sell the founders of the actually-promising startups on having their firm invest. In general, you don't do this in the office. You get out and meet lots of people in the industry.
Likewise, if you're a founder going into fundraising mode, your full-time job is to be a salesman. You go out and meet lots of investors and blow shit up their ass so they all believe you're the next hot thing, and then you play them off against each others so they keep escalating their termsheets. I've had founders tell me that everything you do in the fundraising game is performative - you should treat it like a months-long acting gig where everything you do is designed to elicit the desired emotional reaction to get investors to open their portfolios.