Fund: Bain Capital Ventures
Posted by KuH on 2007-09-14
We made an elementary mistake here - had a good phonecall with an associate (Dan Allen) and ended up flying out to meet and present to his partner (Ajay) ... and then rapidly discovered that the partner had zero interest. This was a waste of time, and hammered home the idea that dealing with an associate too early is a mistake. Either a partner is interested, or you're not getting money.
They also asked for the full business plan before we flew out - and we sent it: another mistake. They asked a whole series of questions which were mainly covered already in the business plan ... so I was left scrambling on how to treat them: ignorant and do a basic presentation; or knowledgeable and just discuss. For future I'm never sending a full business plan until after they show real interest, whatever they say on the phone.PRIVATE: Members Only