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I run a private equity fund in Chicago that invests exclusively in internet and financial-services startups. As far as I know, we're far bigger than any firm i
by Shooter 17y ago
I run a private equity fund in Chicago that invests exclusively in internet and financial-services startups. As far as I know, we're far bigger than any firm in Boulder, and our AUM exceed most of the Sand Hill Road firms. But we're boring and low-key. There are several other VC and angel funds in the area that invest in internet companies, and they tend to be the same -- boring and low-key. Basically, we all require a business model. A 'boring' and profitable business is better than a business that is 'slick and quick.' I would personally rather cash checks than be written about in TechCrunch. I'm more likely to invest in a SaaS company that manages the back-office networks of pension administrators than in a company that aggregates social network profiles, for example.
The fact that the Chicago VC/angel establishment is not constantly funding Google takeover targets (or on TechCrunch all the time) doesn't mean we don't exist...it just means we work differently. We're definitely much smaller than the Boston and SF contingent, but we're here if you look.