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I hear you, but recently I was doing a thing where I need $5M on a $15M pre-money raise. I called the front desk and was told by the secretary that "we only do
by ci5er 10y ago
I hear you, but recently I was doing a thing where I need $5M on a $15M pre-money raise. I called the front desk and was told by the secretary that "we only do introductions".
Fine, good enough, but I was on a clock and I knew who I was and I knew who they were and they could have been a great part.
About the time I am signing the paperwork (2.5 weeks later?), I get a call from one of their partners: they heard about it and want in.
No can do. Unfortunate, because I still think two of their partners could/would add value.
But I always wondered: why do VCs make founders jump through hoops that don't matter? Are they to prove the founder can sell? I remain baffled.
- sharemywin 10y agoSeems like "I've raised X of Y and I thought we might make a good fit", would be a pretty good filter.
- morgante 10y ago> why do VCs make founders jump through hoops that don't matter? Depending on the celebrity of the VC, I can imagine a truly massive deluge of cold emails mostly from supremely unqualified companies. I can understand their desire to be insulated from that.
- danieltillett 10y agoVCs are idiots if they outsource screening to the front desk receptionist. They can at least get an intern to do the screening - who knows they might actually not miss out on all non-warm opportunities.