search: results update below


browse funds: selections are stored



recently rated:

Rated by 12
2.5

top rated funds:

Rated by 12
4.1

Rated by 11
4.0
 

Rated by 15
4.0

Rated by 41
3.9

Rated by 11
3.8

Rated by 44
3.8

Rated by 106
3.8

Rated by 32
3.8

Rated by 32
3.8

Rated by 64
3.7

Rated by 23
3.7

Rated by 27
3.7

Rated by 11
3.6

Rated by 18
3.6

Rated by 10
3.6
 

Rated by 62
3.6

Rated by 21
3.5

Rated by 12
3.5
 

Rated by 30
3.5

Rated by 28
3.4

Rated by 19
3.4

Rated by 14
3.4
 

Rated by 49
3.4
 

Rated by 16
3.4
 

Rated by 10
3.4

Rated by 13
3.4

Rated by 16
3.4

Rated by 60
3.4

Rated by 17
3.4

Rated by 18
3.3

Please take a moment and make a financial contribution to TheFunded. If we have helped you, help us with resources to further grow the both the site and our entrepreneur training program, The Founder Institute.

Member Post

TheFunded.com is an online community of over 20,000 CEOs, Founders and entrepreneurs to discuss fundraising, rate and review angel investors and venture capitalists, and discuss strategies to grow a startup business. Enjoy the site, and be sure to join us at our Founder Showcase events to meet the community.

Sign-up for Membership

2
Agree
4
Disagree

Evil

Fund: Institutional Venture Partners

Posted by Anonymous on 2010-01-29

PUBLIC:

We’re a well known start-up, well into double-digit million revenues, with operating profitability. After speaking with a lot of folks, we got attractive term sheets from several and wanted to proceed with IVP. Dealing with Dennis Phelps, we were persuaded that this was a guy we could work with productively, even if we didn’t think the candlepower was there to add a lot of value.

We should’ve got the creepy tingle that you get in horror films when they insisted on an exclusivity provision. Seemed rather odd, but under heavy pressure, we figured it wasn’t really going to hurt. That’s when Steve Harrick joined in the conversations and due diligence.

Unbelievable to us, our existing VC, and our banker and attorneys, they came back three days later with a term sheet at 2/3 the price and lots of the extra bells and whistles on it. What’s more, they didn’t even have the decency to call me up, or better yet, meet me face-to-face to explain themselves (can’t believe Dennis still doesn’t have the courage to call and apologize). We had our attorney pass and waited out the exclusivity period. We eventually got our cash from another source, hit our numbers, and will be out in the public markets in two years or so.

In the meantime, my strong advice to any entrepreneur is to avoid IVP. Bad faith, bad instincts, and bad manners.

PRIVATE: Members Only (466 Characters)