Asleep at the Switch?
Fund: FTV Capital
Posted by elvis29 on 2007-11-10
We pitched our deal a couple of years ago - financial services technology. They simply did not get it. Try to find smarter money first.
PRIVATE: Members Only (127 Characters)Not a Good Experience
Fund: FTV Capital
Posted by Anonymous on 2008-05-21
Our company pitched FTVentures on an investment opportunity in the digital media space. Eric Byunn was the point person involved at FTVentures. The process was smooth and we did receive a timely and fair term sheet. Unfortunately, from this point forward we did not have a good experience with FTVentures and Eric Byunn.
PRIVATE: Members OnlyTrustworthy
Fund: FTV Capital
Posted by Anonymous on 2007-08-16
While I have no experience with the firm, I do have experience with Mark Lotke (partner). Known him for a while. Solid citizen. Smart. Honest.
PRIVATE: Members Only (187 Characters)Ft and Eric Byunn: Experience So Far
Fund: FTV Capital
Posted by mktgmann on 2008-01-28
NOTE TO ENTREPRENEURS: FT is decidedly a B-round growth company fund focused on financial services technologies. So if you don't have $5-$10M+ revenue, at least half your management team in place, some semblance of a working product, and at least 1-3 financial services clients (preferably some of their LPs), then you shouldn't bother pitching them or get upset if they turn you down.
We fortunately had all of those things in place, and had met Eric Byunn almost a year before we started our B round raise process. He had expressed interest early on and we sent periodic updates. When the time came for the B round, he already had a good sense for the company and the team.
Their process was very efficient-- standard 5 steps: 1) we pitched the deal team in their offices 2) a few weeks later they came and spent the full day with us 3) they took about 2-3 weeks to do full due diligence 4) we pitched their full partner team 5) term sheet was fair and required very little negotiation so was 4 weeks from term sheet to close.
1 month and 1 board meeting in, FT has already started to work us into their LPs as potential clients. Eric Byunn's participation in our first board meeting was helpful, somewhat challenging, provided strategic and tactical value, and was tough where appropriate but patient where appropriate.
Overall, so far so good.
PRIVATE: Members Only