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Friday, September 01, 2006

Thoughts on VC funding



Money the oil of Industry....




My thoughts on VC funding....don't ....and again I say don't....unless you really have to…the Venture capital companies are run by people and as such you get good and bad companies…I have sat with cash flow projections showing that we run out of cash in a few weeks, and been told can you not stretch it a couple more weeks, we have a lot of folks on holiday at the time and it would be hard for us to get the next traunch released….I have worked with VC’s who have over extended themselves to support the company while we looked for a trade sale….so I have met both sides…

Now this is not a bash at the VC institution, it is a bash at the bad fund managers and partners who’s responsible for making the decisions. I have worked with a lot off VC companies, I have entered the “dragons den” and pitched to them, and I have sat in the “dragons den” and listened to the pitches, sat around the magic table and passed the cream…I know a lot off these guys…and as a great old hobbit once said …well you catch the drift here….

VC funding is like Alcohol…you get your first drink and you are in cloud heaven…but as you drink more…it can either become an addiction..Or it is a pleasure…

Pick your VC wisely …try and not leave it until you become desperate and have no room to manouver… look early …keep your nose in the poke…attend investor conferences…listen to others experiences…read up on there portfolios…check through your network to see if some one has worked with them before…talk to other VC’s and pick there brains…but only take the “30 pieces of silver “if you have tried every other avenue open to you…

If you want to chat more about this feel free to contact me…

Well I hope you have a good weekend…have fun….

Slainte

Gordon

2 comments:

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