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1.3 This Firm 'Gets It'
Fund: True Ventures
Posted by drudru on 2007-07-26
Quite often, you hear talk of the new era in venture and startups. Actually, when you network enough, you hear quite a few cliches or soundbites. When you get to the table with the more established firms, though, you find that much hasn't changed. The reality is that the game has changed in many visible ways (capital needs, distribution, hiring, etc.). Most firms have not adjusted. They blame the environment or 'inexperienced angels' for the lost deal. They still have the same expectations for a deal, and will steer you down the same paths. This is really the only 'way of the world' that they know.
When we went out for financing, we knew that our needs were of the 'new era' variety. Not quite angel and not quite venture. Based on my
past experiences and the experiences of those
in my network, I was skeptical of most VC firms and willing to forego that route. Angel funding is an easier option, but there are caveats there as well. It was when we reconnected with Jon and his team that I could see that they understood the new landscape. They thought about the new problems and came up with some new
value propositions that made them stand out from the rest. Both parties hit it off and we did the deal.
Just recently, we had our one year anniversary. I can honestly say that going with True was one of the best decisions we made. They have consistently provided *tangible* support and excellent direction.
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