Venture Capitalist is someone who invests venture capital. He has therefore funds that he wants to invest in the business - to enter into business with high growth potential (the startup). In addition to funding he brings knowledge into a joint venture (so-called Smart money).
Venture Capitalist in practice: Venture capitalist is an umbrella term for Angel investors, investors from companies offering venture capital and other investors who have risk capital. Venture capitalists want to be first informed quickly (see elevator pitch) with business strategy, and if the idea interests them, further negotiations on investment follow based on the submitted business plan. Venture capitalists investment is mostly temporary, for a period of 3-5 years, after which their exit from the company’s capital structure occurs.