This qualitative case study investigates the evaluative criteria that venture capitalists (VCs) use when making investment decisions about a startup’s potential for future success and whether resource availability changes those criteria. The study examines VCs’ lived experiences and perspectives on using objective and subjective investment selection criteria during periods of economic change when resource availability fluctuates. This qualitative research study employed semi-structured interviews with 14 VCs from the San Francisco Bay Area to obtain primary data, then incorporated thematic analysis to build a cohesive, rich narrative that accurately captured VCs’ personal experiences. This study aimed to determine whether VCs continued acting in investors’ best interest when confronted with a drastically changed investment landscape. An agency theoretical framework serves as the lens to examine whether VCs act as responsible fiduciary agents for principal investors.