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I got some good advice in 500 a few years ago when trying to raise a Series A. We were getting the "location" excuse over and over. It usually went something li
by jscheel 9y ago
I got some good advice in 500 a few years ago when trying to raise a Series A. We were getting the "location" excuse over and over. It usually went something like, "we love what you are doing, and we would probably invest in you, but your location is a non-starter for us." The truth, as was illuminated to me during, is that they just aren't interested. If you were a compelling enough business for the investor, your location would not be a factor. If you can prove that you are succeeding in your location, then the location obviously isn't an issue. Too many investors saw our location as an easy out, and it took a while to understand that. We had way too much hand-wringing about upending our families and moving to the Valley to try to secure investment, when we should have just been looking inward at our own shortcomings.
- logicallee 9y agoit's only an excuse if you moved your company to silicon valley and it turns out they were lying and still didn't want to invest. As it is you got a hard "no, because of your location." I am shocked that you think location doesn't matter and that it was not the truth. whoever advised you of that is wrong. of course it matters. why do you think more deals happen in silicon valley than elsewhere? because there are no good startups elsewhere? shockingly misinformed/in denial. you should have believed the reason you were very clearly given. or falsified it by moving to silicon valley. or realized that actually, you are the one saying no.
- logicallee 9y agoI can't believe this was downvoted. If a VC has 27 portfolio companies in silicon valley and 0 based outside of it, for example, how is it an "excuse" if they tell you they want to invest in that geography?
- bhnmmhmd 9y agoI also cannot fathom the reason this comment got downvoted. I would be happy to hear about the reason.