I'm guilty (though I consider it a positive quality) of using "we" when describing both success and failure.
First, I believe it builds trust in the department and not the individual. Conversely, failure is is spread among the team (and its resolution) as well.
Of course, this is important when communicating outwardly, and acts as a firewall from politics and tension. Giving kudos and warnings are still necessary, but, overall, team accomplishments, even via the "we" pronoun alone, are beneficial. (Let's be honest: those involved knew their role and weight)
How about decoupling from the companies altogether and just saying "It's doing well," or "it's doing poorly." The portfolio is not performing up to expectations." The company our partnership has invested in is doing well --it's doing well.
Alternatively, although a bit artificial would be to use an exclusive "we" (we, but not including you) or an inclusive we (we and you). English did have a dual pronoun which could be repurposed for that, I suppose, but it would seem forced --maybe more artificial than the artificial use of "we" you have experienced being used by VCs.
First, I believe it builds trust in the department and not the individual. Conversely, failure is is spread among the team (and its resolution) as well.
Of course, this is important when communicating outwardly, and acts as a firewall from politics and tension. Giving kudos and warnings are still necessary, but, overall, team accomplishments, even via the "we" pronoun alone, are beneficial. (Let's be honest: those involved knew their role and weight)