What is Entrepreneur in Residence (EIR)?
An Entrepreneur in Residence (EIR) is an experienced founder or executive who joins a VC firm (or accelerator, corporate innovation arm, or university) in a temporary, salaried role to source deal flow, advise portfolio companies, and explore launching their next venture from within the firm’s resources. The model originated at Kleiner Perkins in the 1980s; now standard at most tier-1 VC firms.
Typical EIR profile
- Sold or exited a previous company (most common path)
- Senior operator at a high-growth tech company (often after acquisition)
- 2-5 years of operating experience post-MBA / post-PhD
- Strong network in target sectors
- Willing to give up operator pay for optionality + signaling
What EIRs do
- Deal sourcing: Bring proprietary deal flow from their network
- Portfolio advisory: Help portfolio CEOs on product, GTM, hiring, M&A
- Diligence support: Technical/sector evaluation of prospective investments
- New venture ideation: Use VC resources to validate their next startup idea
- Co-founder matching: Connect with potential team members within the firm’s network
Variants of the EIR role
- Pre-incubation EIR: Joining to incubate a specific new venture (firm often provides seed capital + first investor rights)
- Sector EIR: Domain expert in a specific vertical (fintech, healthtech, climate) supporting that thesis
- Visiting EIR: Short-term (3-6 months), part-time engagement
- Corporate EIR: Often at corporate venture arms (e.g., Google Ventures, Salesforce Ventures) — exploring strategic startup ideas tied to the parent business
- Operator-in-Residence (OIR): Variant focused on operational support rather than launching new company
Compensation
EIRs typically receive:
- Base salary: $200k – $400k annually (USD; lower in non-US markets)
- Office space + administrative support
- Right of first refusal from the VC firm on next venture
- No carry (typically), though some firms offer participation in specific deals sourced
EIR exit paths
- Found a new startup (with firm as Seed investor — most common)
- Join a portfolio company as CEO/CTO (firm benefits from leadership upgrade)
- Become a Partner at the VC firm (rare but happens)
- Return to operating role at another company
Why VC firms host EIRs
- Deal flow signaling: Top founders see the firm as a “founder home”
- Diligence capacity: EIR sectors expertise fills gaps
- Pre-investment relationship: First call on next venture is invaluable
- Portfolio support: Adds bench strength without permanent hires
Practical implications for founders
If you’ve sold a company, EIR roles offer a structured path to your next venture with reduced opportunity cost. If you’re hiring for an EIR-equivalent at your startup, structure as: 6-12 month engagement, equity advisory grant (0.25-1%), clear scope, no exclusivity. Turkish founder-EIRs at international VCs is a growing trend (Earlybird, Index, Sequoia have hosted Turkish-origin EIRs). Vircon Legal advises on EIR engagement letters for incoming/outgoing founders.