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2010 VC Funding Outlook for Startups – Prepare for Winter (Part 3/3)

Both Sides of the Table

I obviously don’t have a crystal ball so the economy could fare better than my gut, but here’s why I’m cautious for some time in 2010 or early 2011: Why is the future still so unpredictable? Tags: Pitching VCs Start-up Advice VC Industry startup technology vc venture capital.

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Backing someone pre-pitch: The story of how I backed Clubhouse

This is going to be BIG.

In 2010, a bunch of techies got together to do the next year's NYC Triathlon. I'm excited to be able to finally announce Brooklyn Bridge Ventures ' investment in Clubhouse , a company I agreed to back before I even knew what it was. I had already done two and was looking forward to joining people from the tech community.

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How early should you connect to a VC? Here's some data.

This is going to be BIG.

If all my deals came as intros from trusted connections that I know for years versus at founder pitch events that''s interesting data. If you meet someone at a pitch event, they''ve already got a company and they''re looking to close as quickly as possible. In fact, that''s what I tend to do--at least, what I say that I do.

VC 415
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Leave Your White Guy Behind

This is going to be BIG.

Yes, straight white males are getting most of the funding, but they're also most of the pitches. It's not clear to me that other types of founders are getting less funding in proportion to who actually winds up pitching and what they ask for --and you can't get what you don't ask for. Not a single investor turned her down.

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The Bad Advice Diverse Founders are Given Around Fundraising

This is going to be BIG.

I can't think of a single time when a white man came to pitch me and I told him his fundraising plans weren't aggressive enough. Yet, for some reason, the goals for her pitch were incremental--despite being in an extremely hot space. When Chantel asked investors for $3mm for her seed round back in 2010, people stood up and took notice.

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When good things happen to good people: SinglePlatform acquired by Constant Contact

This is going to be BIG.

I first met Wiley Cerilli on April 23, 2010. He oozed a quiet confidence--like a baseball pitcher who had all his stuff working and knew exactly in his head the pitch he was going to finish you off with. If you've ever met Wiley, you know you can bank on him maxing out that additional $30 million. The answer: it wasn't.

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How entrepreneurs benefit from ‘Alien Thinking’

Entrepreneurs' Organization

In preparation, he spent months researching who might be amenable to his pitch. In August 2010, after Thiel’s annual Singularity Summit event, Hassabis lined up along with scores of other hopefuls given literally one minute to pitch their ideas to Thiel. 2 for his age group at 12.