Fund: Trinity Ventures
Posted by Anonymous on 2010-08-03
We had a handshake deal with a partner at Trinity that I've known for years to lead our next financing round based on solid progress during the year. The terms we shook on were clearly stated, including valuation. I was warned by a fellow CEO who had a bad experience with the same partner recently, but I ignored my better instincts and continued on. Emails and meetings follow with my expanded team. The partner promised to get back to me immediately and then backs out of the deal with a weak excuse about valuation a couple of weeks later.
It was waste of time in my opinion, and made me look bad in front of my board. I should have paid attention to the CEO who had already been down this rabbit hole. I will skip Trinity in the future. We closed our financing with a much better fund.PRIVATE: Members Only