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2.5 Bad Karma ! Getting Shot is Better Than Vab Goel
Fund: Norwest Venture Partners
Posted by Anonymous on 2009-01-19
I ran into Pramod Haque and Vab Goel a couple of years ago in India. While Pramod was quiet and courteous, Vab really stood out. He was outright arrogant, completely insensitive to the entrepreneur, and despite having spent probably a few hours in India, behaved as if he knew it all. While engaging in a deal, Vab's behavior was simply amazing - he would call my fellow co-founder at 430 am India time just because it was 3 pm in California!
While concluding a deal with them, I understood the real face of Norwest - represented by Vab Goel (whom I assume Pramod blesses to stay on board to conduct business on the behalf of Norwest). Vab was utterly unprofessional, a liar, threatening the entrepreneur (if you don’t sell, i will dilute you to nothing etc), and a complete turn off. He plays co-founders between themselves; try's to trick fellow co-investors into falling into side deals and is insulting to anybody who doesn't say 'yes sir'. In the end, his greed and vanity got the better of him - he not only paid over inflated prices to buy out founders like me (out of my own company!!), but ruined relationships between the board members, and fellow co-founders. I understand he hasn't visited India for over 2 years now and the company has almost closed down.
Do not do anything with Norwest and specially Vab Goel - even getting Shot will be a better experience.
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