Venture capital for the highest bidder

Aug 27, 2013

FORTUNE -- Venture capitalists have figured out a new way to rank their desirability among entrepreneurs: An auction.

A group of 20 Silicon Valley VCs are taking bids for lunch dates, with proceeds going to Presidio Knolls School , a startup Chinese immersion school based in San Francisco. So it's really more about charity than narcissism, but there clearly are some bragging rights involved. And I wouldn't even be surprised if certain limited partners keep tabs on which VCs did (and didn't) garner high bids.

Bidding ends later this afternoon, with  Josh Elman currently atop the "leaderboard." The current Greylock partner (and former Twitter exec) is going for $4,750 as of this writing, after 16 different bids. Sameer Ghandi of Accel Partners and Saar Gur of Charles River Ventures are tied for second place with respective bids of $3,300.

At the low end right now is David Chao, co-founder of DCM-Doll Capital Management, with only three bids topping out at $650. Tough crowd...

A bunch of the participating VCs have promoted their lunches via Twitter, while Homebrew's Hunter Walk is even offering up old Google schwag.

So if you want to pitch a VC but can never get past the summer associate, here's your chance. Maybe your best strategy is a pity bid for one of the lower-priced VCs. They might feel they owe you one...

Sign up for Dan's daily email newsletter on deals and deal-makers:

All products and services featured are based solely on editorial selection. FORTUNE may receive compensation for some links to products and services on this website.

Quotes delayed at least 15 minutes. Market data provided by Interactive Data. ETF and Mutual Fund data provided by Morningstar, Inc. Dow Jones Terms & Conditions: S&P Index data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Terms & Conditions. Powered and implemented by Interactive Data Managed Solutions