Fund: Venrock Associates
Posted by johnnyonetime on 2007-11-01
I found VenRock to be a solid firm. The partners and associates are bright, well connected and generally friendly. With that said, their pitch process is a bit broken. We pitched VenRock and were asked back for several follow up meetings. We were told we were a hiccup from a term sheet and then BANG.... a call came in that they were pulling out. Their rational was based on a 'banker' pitch about a competitor that was preparing an S-1. Unfortunately, VenRock never asked us to respond to any of their new findings. I'm sure we could have highlighted a lot of fluff. We have a deep knowledge of our competitive set, yet we were never asked to share our perspective. In sum, we wasted too many hours.
With all of that said, we really did like the partners and enjoy the WebInno event David Biesel hosts. My only advice is to have an upfront conversation requesting that VenRock allow you to respond to any "new information" that may deter the process.PRIVATE: Members Only (73 Characters)