The concept of a SV style startup is orthogonal to that of a consultancy. Consultancies face one major problem: scaling.
The problem with growing a consultancy is that their growth is limited to the the number of a consultant's hours they can sell. If you can't scale your income exponentially to the number of man-hours you have available to you, you'll never be capable of evolving into a 100% + growth-per-quarter business.
I can't say I'm surprised that VCs looking for the big winners would not want to invest in a consultancy.
The problem with growing a consultancy is that their growth is limited to the the number of a consultant's hours they can sell. If you can't scale your income exponentially to the number of man-hours you have available to you, you'll never be capable of evolving into a 100% + growth-per-quarter business.
I can't say I'm surprised that VCs looking for the big winners would not want to invest in a consultancy.