In recent posts, we've outlined our updated thesis around backing mission driven founders and explained…
Entrepreneurship
When we developed our core beliefs, we spent considerable time thinking about our investment philosophy, as well as how we should work with our portfolio companies and what kind of resource we want to be. Specifically, we included two points involving our role: 5) We can make the greatest impact as a Seed investor. The seed […]
In recent posts, we've outlined our updated thesis around backing mission driven founders and explained…
Facebook, Google, Salesforce, Twitter…all the top players in Silicon Valley want to get their hands…
When we developed our core beliefs, we spent considerable time thinking about our investment philosophy, as well as how we should work with our portfolio companies and what kind of resource we want to be. Specifically, we included two points involving our role:
5) We can make the greatest impact as a Seed investor.
The seed stage is the most formative time for a startup and often, where you need the most support. This key stage is where we believe we can add the most value — whether it’s helping you with hiring, finding product market fit, building your company culture, or getting your next financing round. We lead or co-lead with an investment of ~$500k and often back our startups through multiple rounds.
6) An investor should be your biggest cheerleader and most trusted partner.
We’re committed to building strong relationships with all of our entrepreneurs. That begins with earning your trust — something we strive for from the very first meeting.
Our job is to support you and act as your biggest advocate, but we also never shy away from asking the important questions and providing tough feedback when necessary. Having run our own companies, we pass on as much of our operations knowledge as possible to help you build a successful venture. Our ultimate goal is simple: to be the first investor called when a founder needs advice.
In both of these points, we’re speaking about our relationship with our founders. At our stage of investment, the team is often comprised of just the founders. After we make an investment, we usually set up a “check-in” call once every two weeks with the CEO and talk about everything from business strategy to hiring, fundraising, mental wellness, and more.
Then, as a company matures and raises subsequent funding, the cadence evolves into a monthly check-in call and we attend board meetings every two months or quarter. It’s at these meetings where we get to meet team leaders who present on specific parts of the business.
Recently, I have been thinking about how we can support our entrepreneurs by supporting their team and developing direct relationships with their executives and employees.
Here are some examples of what we’ve done so far to expand our reach into our portfolio companies:
The advantage of helping operators deep in the weeds of sales, marketing, data, engineering, product, etc. is that we can learn about the specific challenges they face and help them move the needle directly. Something as simple as making an intro from one engineering manager to another who we know had experienced a similar problem can save copious amounts of time. In addition, when employees and other C-level execs have a direct relationship with us, founders don’t have to use their bandwidth to get involved each and every time.
I am curious to know how other VCs support their portfolio beyond its founders? And for founders: what are some things that VCs have done to support your teams that have been extremely helpful?
VC is difficult to scale. But when I think about the unique value add we can provide, I recognize how important it is to take the initiative to get to know our companies deeper… by supporting our founders’ teams, we can better support our founders.
Version One
It’s been about a little over a month since I joined Version One and returned to early-stage venture after spending the past five years as a founder in the addiction treatment space. While a month is a short amount of time, it’s been fascinating to see how certain things have changed during my time away. […]
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