RE: UKNM: On the VC trail...

[Anna Pedroza]

Would have to underline the importance of the team.  We recently ran an

event for VC's and start-ups looking for finance and emphasis was placed on

execution and the team rather than just the fact it was a bright idea.


Anna


-----Original Message-----

From: Sean Phelan [

seanmultimap [dot] com (mailto:seanmultimap [dot] com)

]

Sent: 03 April 2000 08:48

To:

uk-netmarketingchinwag [dot] com

Subject: Re: UKNM: On the VC trail...



>

<Speechradaol [dot] com> said:

>

> > ......as a

> > friend said to me tonight it's still hard raising money for an Internet

> > business unless you are the son / daughter of someone alrready in the

> > finance

> > loop !


At 11:08 am +0100 1/4/00, Ray Taylor wrote:


>VCs, incubators, and all the other sources of investment money get piles of

>proposals every day. Almost all of them (I am told) are badly presented

>non-businesses with big ideas and little substance.

>

>1. Too much emphasis on the big idea.

>

>2. Conversely, not enough time and effort is spent on basics like research

>and testing.

>3. "Entrepreneurs" ask for too much money too soon.

>

>And as to the charge of nepotism, I think that's a bit silly.


As usual, Ray is right on the mark.  The only thing I would add is that

VCs are looking for (and have always looked for) evidence of a first-rate

management team that can actually implement the "idea", and can build a

real business.  Many of the major VC investments that we all read about

are going to teams containing ex-McKinsey people, ex-IBMers and others

that show some evidence of knowing how to build teams, do $million deals,

handle international growth, etc.


Cheers

Sean


=============================================================

Sean Phelan

seanmultimap [dot] com

     http://www.multimap.com

phone (within UK): 020 7433 0460      fax (UK): 020 7681 2094

phone (Int'l):  +44 20 7433 0460      fax:   +44 20 7681 2094



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