9. Show Me the Big Opportunity
“Make me believe—that the opportunity is there, that it’s a big one, that you’re the person to make it happen. Really listen to questions and don’t pretend you have all the answers but that you’re going to find them. Sell yourself and your team and make me want to come on the journey with you. Understand the fit with me and my firm and tell me how we could help.” —Kevin Brown, General Partner, Reed Elsevier Ventures, London Investment Focus: Our aim is to back entrepreneurs and companies that have the potential to transform the economics or the outcomes of the information, technology, and media industries. We invest in the U.S., Europe, and Israel.
10. Think Big and Bold
“What impresses me most is when a team—and I mean a team—comes to visit and they have a complete and inclusive presentation that defines the opportunity, clearly and concisely explains how their company solves that problem, and exactly how they will change the course of history. Thinking big and bold with authority, we love that!” —Jordan Levy, General Partner, Softbank Capital, New York Investment Focus: Early stage Internet, digital media, software and mobile companies
11. Be Honest and Open
“To impress a venture capitalist, it’s important to be honest and open. Venture investors want to back intellectually honest entrepreneurs that can openly discuss both the strengths and weaknesses of their business. No business is perfect, so hiding a weakness is a losing proposition, while openly discussing the weakness and how you plan to address it will score points and impress a venture capitalist.” —Brian Hirsch, Managing Partner, Tribeca Venture Partners, New York Investment Focus: Early stage Internet, mobile and e-commerce companies
12. Show Me You Are Determined
“We have a saying at Bullpen that we like ‘blue collar’ CEOs. That means that we like to see nuts-and-bolts operators, not pie-in-the sky dreamers. Demonstrate that you’ve spent time looking up our background and investment portfolio finding mutual interests. When sharing materials, keep them brief so I can gather context for a phone call or in-person meeting. In person, I like founders who (1) know their metrics cold; (2) have a clear idea of the business they’re in; and (3) know how to grow it. What gets my attention is a hard-nosed, determined founder who, with a few operational pointers combined with a solid, already existing plan, can get to an even bigger outcome. That’s the kind of ride I want to take.” —Paul Martino, General Partner, Bullpen Capital, Philadelphia Investment Focus: Software-driven businesses
Copyright © by Richard D. Harroch. All Rights Reserved.
About Richard Harroch
Richard Harroch is a Managing Director and Global Head of M&A at VantagePoint Capital Partners, a large venture capital fund in the San Francisco area. His focus is on investing in Internet and Digital Media companies. He is the author of several books on startups and entrepreneurship. He was also the founder of several Internet companies. He is the co-author of Poker for Dummies and a Wall Street Journal bestselling book on small businesses. He was also a corporate partner at the law firm of Orrick, Herrington & Sutcliffe, with experience in startups, mergers and acquisitions, strategic alliances, and venture capital.
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