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A Year in the Life of Seeking Venture Capital

The following comment is from some who spent a year recently unsuccessfully seeking venture capital. It was directed at my post about changes in the venture industry, but it was useful enough that I decided it should be a post itself:

I recently went spent a year seeking funding for an Enterprise Security Software Start Up.

We had a compelling idea. We met with the usual suspects: USVP, Venrock, TPG, Sequoia Capital and a half dozen others.

We had top advisors, Mike Pliner who started Sytek and Verity, and Bill Yundt who founded BARRnet and was CIO of WebTV, and Walter Lowenstern, one of the founders of ROLM.

However, after all of the meetings it became apparent that we were not the "A" team. Our other drawback was that although we had a brilliant founder, he didn’t have the pedigree of someone who has been delivering papers at the RSA conference for the last ten years.

Full Discussion along with some excellent comments: http://paul.kedrosky.com/archives/002184.html

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