Beyond that, I don't think the trust VCs to self report. In particular all VCs say "team" is really important. But in my experience they don't really probe the team very much, or get to know them and their background well.
Possibly what they mean is "has previously been CEO of successful startup" or something similar.
Overall, I think VCs build up a qualatitive feeling of how comfortable they are with a play. And critically, how well it can be justified as being a reasonable decision if things don't go well.