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How Mike Speiser and Sutter Hill are changing the rules for venture investing

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Mike SpeiserSource: CNBCVenture capitalist Mike Speiser had a historic 2020. His firm, Sutter Hill Ventures, turned an initial investment of less than $200 million in Snowflake into a stake worth $12 billion after its IPO in September.Sutter Hill amassed its fortune in the cloud software vendor in a unique way. The typical method of early-stage investing is to bet on a bunch of company founders, then get out of the way and let them work their magic. A few winners pay for all the companies that don’t work out.But Speiser has shunned the portfolio approach most VCs use. He told CNBC …

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