“I’ve heard enough companies say “we simply can’t cut costs or it will hurt the long-term potential of theContinue reading "Founders – Use Your Down Round To Clean Up Your Cap Table"
Impressed by promising results generated from over 25,000 CDA cases to date, the bio-tech-focused VC group and strategic insurance industry leaders invested the equivalency of several million U.S. dollars in 2015, supporting technology listed as, “game changing” and “breakthrough”, in Nobel Prize Laureate Summit on Biomedical Science publications.
Anpac’s proprietary CDA technology effectively reinvents cancer screening and
Bevo Media’s founder and CEO Ryan Bukevicz states, “This is a huge milestone for the Bevo team and our customers. Through this acquisition, Bevo Media will have the infrastructure to better provide for our thousands of advertisers and tens of thousands of tracker users. This milestone will help us to fulfill our ultimate vision of Bevo Media and take our company to the next level.” Bukevicz plans on staying active
“The Equity Fund Resources
Impressed by promising results generated from over 22,000 case studies, the technology and biomedical focused VC group has invested the equivalency of several million U.S. dollars in
“If this note converts at a price higher than the cap that you have been given you agree that in the conversion of the note into equity you agree to allow your stock to be converted such that you will receive no more than a 1x non-participating liquidation preference plus any agreed interest.”I also have seen the problem Mark is describing. As an angel investor, I have never asked for a liquidation preference on conversion that is greater than the dollars I’ve invested. But, I’ve seen some angels ask for it (or even demand it), especially when there is ambiguity around this and the round happens much higher than the cap.
Payzer, originally founded as Just Push Pay, is the All-in-One Financial tool that helps fleet based businesses such as contractors grow their business by enabling mobile payments, instant loans via mobile devices, easy management of recurring payments, and simplified customer management.
“There’s a lot to be excited about at Payzer,” said Joe Giordano, Payzer CEO and Founder. “We’ve built a strong team, our product
We are in a cycle again where how much you raise is the story. It’s what the press likes to write about (e.g. Company X raised Y from A, B, and C). Now that everyone is overly focused on unicorns, the headline number on the valuation (e.g. Company X raised Y at a valuation of Z from A, B, and C) has crept into the story on big rounds.
While this makes for press release fodder and ego gratification, it’s of very little use to entrepreneurs. There’s no real story there. No understanding of the human dynamics behind the financing. No understand of what actually went down. No underlying metrics that drive the financing. No real perspective on how people thought about things and the choices they made. Just happy talk focusing on the dollar raised. Zero educational value around anything.
Recently, the gang at SalesLoft told the detailed
The next person on the list of supporters is Scott Maxwell at OpenView Venture Partners. Scott and I were both on the Microsoft VC Advisory Board that Dan’l Lewin organized and ran. While we had never invested together, I felt like Scott was a kindred spirit. We both spoke truth to Microsoft execs, even though they mostly ignored us. I remember a meeting with the Microsoft Mobile 6.0 team as they were pitching us their vision for Microsoft Mobile 6.5. Both Scott and I, on iPhone 1’s or 2’s at the time, told them they were completely and totally fucked.Continue reading "The Paradox of VC Value-Add"
“If you get a chance, I’d request you to write a blog post about various business decision related conflicts or misunderstanding that might occur in a partnership and how you folks at the Foundry Group resolve it. My partners and I grapple with such challenges quite often.”Every VC firm is different so to answer a question like this, it’s important to remember that the answer is one specific to Foundry Group. Never forget that VCs Are Like D&D Characters. When my partners and I started Foundry Group in 2007, we created a set of deeply held beliefs that we carry around with us every day. Some of them are about our strategy and some are about our behavior. One of our deeply held beliefs is that “We will address and resolve all conflict between us directly, clearly, quickly, and openly.” This is easy to say but very hard to do. It means that there will be no passive aggressive behavior on anyone’s part. We won’t carry around things that bother us. Instead, we’ll put them on the table to discuss. We have to have a strong basis of trust, which we’ve extended to the notion of “business love.” It has to be ok to be upset, to disagree, to be sad, to be disappointed, and to be unhappy. These are normal emotions. Things don’t work, they can be confusing, frustrating, or downright miserable. A partnership has to be a safe place to be open about these emotions, especially when they are being generated by someone in the partnership. The deeply held belief is nice, but unless there are tactics and consistent action to back it up, it ends up being meaningless. There are three things we do to make sure we execute on this deeply held belief. Weekly Time and Space for Discussion: We have a set time on Monday’s – between 11am and 1pm – where the four of us meet every week. Unlike many firms that chew up an entire Monday of “partner meeting stuff”, we do it over lunch. As part of this we have a chance to touch base with each other once a week. This is like flossing your teeth – it gets rid of the easy stuff. Regular Dinner / Offsite: We have a full day offsite at least quarterly and as often as monthly. We spend at least an hour on the question “How are each of us doing?” In this case, “doing” means “emotionally doing” and covers what is on our mind, how we are feeling, what is stressing us (professionally and personally), and how we are doing with each other. Sometimes the discussion is balanced between the four of us; other times it ends up being focused on one person. We always end these days with a long dinner together, which allows us to spend more time on our collective relationships. Be Direct: I wrote about this in a post last