CIO 3.0 is upon us. No longer are CIOs heads of technology, or enabler of business, they are driving business strategy. Is there a need to change the paradigm for the CIO Role to that of a business strategist? Can elements of other business roles help the new CIO? This paper discusses using the "venture capitalist" role as a model for the CIO's stewardship of IT investments. Does it fit? You decide!