No, Malcolm was the mastermind. He saw the punk trend, was a fixture in the scene, and figured out the right positioning for a new group and drove his product into the appropriate market channel. He wasn't the public face of what he built, but he put the Sex Pistols together and made them tour and got his wife Vivienne Westwood to style them.
What is exactly what I expect from the VC (early stage VC).
Find group of talented people, with good idea, then help to position the product on the market using portfolio companies as helpers and his brand for PR. Style everything, and then sell thru the IPO.