I recently caught up with a gaming VC, and he mentioned that he primarily invests in teams that have worked together for a long time.
It seemed like, for him, the length of time a team has worked together is just as important as the team’s track record. He said this is particularly the case in the gaming space, because there are some strong personalities (it’s a creative industry, after all).
I think this principle applies to any team. When you bring smart people together, it takes time for them to develop chemistry and get into a groove. But once you have such a team, it’s a beautiful thing — there’s so much shared context and history, down to inside jokes.
While loyalty to a company may be fading, loyalty to a team still matters. It can make your (work) life easier and more meaningful, and investors love to back those kinds of teams.