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Southeast VC Firms - Feedback
Posted on 5/30/16 at 10:50 pm
Posted on 5/30/16 at 10:50 pm
Know the majority of the topics on this forum are centered around public markets, commodities, and macro trends in the economy, but in case there are some private company or venture capital folk lurking, would love to hear if any of y'all have dealt with raising money from some SE VC firms. Specifically, would like feedback if any of y'all have any dealings with groups in Atlanta, Charlotte, Nashville, and cities similar.
Some more specifics to narrow the search:
Invest 5-10M Series A/B
Primary focus is in SAAS/tech enabled service
TIA
Some more specifics to narrow the search:
Invest 5-10M Series A/B
Primary focus is in SAAS/tech enabled service
TIA
2
Posted on 5/31/16 at 12:39 am to GregYoureMyBoyBlue
There is a VC guy on here, but he keeps a low profile, so I don't think he will respond. He's also not a tech guy.
There is a guy here that focuses mostly on mezzanine, and senior stretch, with a sprinkle of equity and he might be right up your alley. If no one message me @gmail and I'll forward him the info.
There is a guy here that focuses mostly on mezzanine, and senior stretch, with a sprinkle of equity and he might be right up your alley. If no one message me @gmail and I'll forward him the info.
Posted on 5/31/16 at 3:44 am to GregYoureMyBoyBlue
Plenty of generalists, but you're not going to find nearly as robust a tech fund universe in the SE. Any reason you're constraining yourself?
Posted on 5/31/16 at 6:32 am to TheHiddenFlask
Appreciate that. We have some pretty good relationships with some of the more notable venture-debt financing partners (i.e. Square One and SV Bank), but for a couple of reasons, our focus is less on high yield debt with warrants and more on an equity partner.
As for why we are looking in Southeast, my experience has been that unless you're raising at least $10M, a majority of the coastal firms prefer to have in their backyard (Cali, Boston, NYC, etc). There are exceptions and we are pursuing those. Additionally, the regional guys are in the position to write a $5-$7M check with minority shareholder position which would be preferred if we can find the right team.
As for why we are looking in Southeast, my experience has been that unless you're raising at least $10M, a majority of the coastal firms prefer to have in their backyard (Cali, Boston, NYC, etc). There are exceptions and we are pursuing those. Additionally, the regional guys are in the position to write a $5-$7M check with minority shareholder position which would be preferred if we can find the right team.
Posted on 5/31/16 at 10:44 am to GregYoureMyBoyBlue
I'll translate that for you: NY/DC/Boston metroplex VC guys are self important pricks and West Coast VC guys are self righteous, self important pricks.
Not that there is anything wrong with that. Sometimes you want that personality trait.
Not that there is anything wrong with that. Sometimes you want that personality trait.
Posted on 5/31/16 at 11:07 am to TheHiddenFlask
quote:
I'll translate that for you: NY/DC/Boston metroplex VC guys are self important pricks and West Coast VC guys are self righteous, self important pricks.
Not that there is anything wrong with that. Sometimes you want that personality trait.
Haha we certainly have dealt with some of the partners at these firms that identify as such. For the less self righteous groups, however, it is more about capacity and bandwidth of the partners and their ability to leverage themselves to help you grow. A lot of times that is a board meeting a month and multiple outside of the office strategy sessions. Sometimes it is sitting with the EIR or VC Ops team to help with the more monotonous tasks that management can offload. It's hard to do that without the portfolio company being in your backyard.
I don't disagree however. We've met with a handful and some are truly narcissistic sociopaths.
Posted on 6/1/16 at 11:55 am to GregYoureMyBoyBlue
What resources/research have you used so far?
A few sites that may be useful to you:
eapla.com
Microventures.com (in Austin)
VCExperts.com (based in Shreveport)
pitchbook.com
Mattermark.com
Almost every city over 50k people has some sort of incubator/startup community that has at least some connections into the broader private investment opportunities in that area.
A few sites that may be useful to you:
eapla.com
Microventures.com (in Austin)
VCExperts.com (based in Shreveport)
pitchbook.com
Mattermark.com
Almost every city over 50k people has some sort of incubator/startup community that has at least some connections into the broader private investment opportunities in that area.
Posted on 6/1/16 at 6:03 pm to lilsnappa
I've used all the database mining possible to get a collection of firms, investment philosophies, recent transactions, etc. I was more looking for anecdotal testimony in case anyone here was in the industry, the geographic area, and could give me a better idea of the entire southeast venture scene and their experience within. I have a good sense of the venture scene in TN and parts of GA, but nothing really outside of those two unless the firms are national guys.
On another note, if anyone here is interested in the venture/private equity markets, I'd suggest subscribing to Dan Primack's "Term Sheet" (Fortune). While his opening commentary can be pretty subjective and partial to his personal political/economic viewpoints, it's a great morning email that gives you the prior day venture and private equity funding and M&A transactions.
Some recent commentary has been on lack of tech IPO's, controversial LP terms of agreement, Public market impact on private market fundraising, amongst others. In a time of quick/daily email blasts, it's probably my favorite over politico's morning money, dealbook, pitchbook, etc.
On another note, if anyone here is interested in the venture/private equity markets, I'd suggest subscribing to Dan Primack's "Term Sheet" (Fortune). While his opening commentary can be pretty subjective and partial to his personal political/economic viewpoints, it's a great morning email that gives you the prior day venture and private equity funding and M&A transactions.
Some recent commentary has been on lack of tech IPO's, controversial LP terms of agreement, Public market impact on private market fundraising, amongst others. In a time of quick/daily email blasts, it's probably my favorite over politico's morning money, dealbook, pitchbook, etc.
This post was edited on 6/1/16 at 6:06 pm
Posted on 6/1/16 at 9:22 pm to GregYoureMyBoyBlue
quote:
I'd suggest subscribing to Dan Primack's "Term Sheet" (Fortune).
It is solid stuff. I worked for a year in the industry (for one of the firms I listed above). Dan would often contact us to get more info on certain high profile round details and deal terms.
I'm in Charlotte now, and the only real newsworthy companies getting big VC money around here (like $5-10M early stage rounds) are AvidXchange (Fintech) and Red Ventures (high growth call center - late stage now).
From my experience there's not a lot of traditional VC funds in the southeast. Most of the equity financings are coming from either A) larger companies with investment arms B) home office / accredited investor types.
There's a lot of traditional Private Equity money floating around, but I haven't seen very many true early stage growth tech deals in the southeast.
This post was edited on 6/1/16 at 9:25 pm
Posted on 6/2/16 at 6:41 am to lilsnappa
Understood...thanks for the feedback. I've seen a lot more national firms developing relationships within emerging southeastern cities, but those are mostly in fintech and HC IT rather than more "general" SAAS, enterprise, or consumer tech.
Also, good to know there are a couple other posters/lurkers that live in the early stage space!
Also, good to know there are a couple other posters/lurkers that live in the early stage space!
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