If you do a Yahoo search or Google search on Redpoint Ventures, you will find articles questioning the venture firm's ability to keep raising money: SiliconBeat: Redpoint Ventures raises $400 million, despite mediocre results
Well, I will share my two cents on how they keep raising money:
1. Redpoint's founders were among the best in the business at their prior firms and have the track record to prove it.
2. Redpoint's partners are on the short list of investors sought by leading Internet and consumer entrepreneurs, which will pay off in the form of "supernormal" returns in the future.
Redpoint must have rubbed a few journalists the wrong way when they launched in 1999. They were pretty bold back then. It sounds like some of the pundits hold a grudge. In the trenches, what I am seeing is that the best entrepreneurs are not holding a grudge. They are lining up to work with Redpoint. So, the limited partner community is as well. I suspect they will be rewarded.