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Ask HN: Is it wise to use a 'meta' VC?
My startup fabfabbers.com has been approached a few times now by people that appear to be VCs, but are actually agents that claim to have access to many VCs, and will charge some kind of fee upon successful funding.
Question is, has anyone used such a 'meta' VC (if that's the right term). If so, what is a reasonable charge/charging structure? I do need funding, but worry this might not be the way to go.
- lifeisstillgood 13y agoI have no direct experience of the market but my first impression is to use a large cattle prod on such people, and wash it afterwards. There are plenty of real VCs out there, and the good ones do have a network of folks whose recommendations they would trust. Those recommendations do not come on a commission basis (unless a good lunch at an expensive restaurant is commission). I strongly suspect that trying to convert membership of that network into cash is the the fastest, surest way of leaving the network. If you want an introduction to a VC, try this: * look up their list of funded companies * find the companies that are in your field, or work OSS projects close to yours * do some work with them, say hello, contribute patches. * be upfront about your status - a founder who one day might look at funding. * When you have customer traction, ask for advice and help on getting funding. Your linkedin network now contains a dozen people who know your work and know a VC. disclaimer: I have no idea if this will work.
- marcosscriven 13y agoOh dear, you mean the 'meta' VCs, or just any VCs at all?
- lifeisstillgood 13y agoDefinitely the "meta" VCs get the cattle prod. (I mean, a "meta" VC is just as ethically challenged as the real VC, plus no money!) The real VCs, I suspect that depends, there are many ethical professional people in the VC world - but do take into account the day you have had and the battery charge left :0
- marcosscriven 13y agoI'll keep mine charged up then :) Thanks for the advice by the way.
- gyardley 13y agoThe people approaching you are crooks. Just delete their emails.
- ig1 13y agoDon't touch it. VCs are super-connected people, if you're at all connected with the startup world you should be able to get organic introductions through your network. If you're not at all connected then one option might be to go through an accelerator (YC, Techstars, Seedcamp) which can give you a leg up. Most VCs will also attend a wide range of events which can be a good place to meet them. (disclaimer: while I work for a VC I'm speaking in a personal capacity, although I believe my views are aligned with both my colleagues at my firm and at all the other major VC firms)
- Sealy 13y agoBy meta VC's are you referring to Accelerator funds?