TheFunded.com: Where entrepreneurs rate good, bad, ugly VCs
Aug 8 2007 9:09AM
Attention entrepreneurs: you now have an online forum where you can tell your peers about your experiences with venture firms.
TheFunded.com, started four and half months ago, turns the tables on venture capitalists, who have traditionally been in the driver’s seat.
The site’s mission: to help entrepreneurs secure necessary financings to grow their business and eliminate a lot of the inefficiencies that plague that process today.
The more than 1,700 members post comments on specific funds, and what they think of the principals and other general observations. Believe me, it’s not all sweetness. One comment called a senior partner “abrupt, interrupted frequently with comments that seemed to want to showcase his observations rather than be constructive to our pitch.” But you’ll get the good with the negative. Anyone can read the “public” comments on the site, but only members can read the “private” ones. (The reviews and commentaries are contributed by qualified members, and more than 98% of members are CEOs, according to the site. Members can post comments anonymously.)
Entrepreneurs rate venture firms on five criteria: track record, operating competence, pitching efficiency, favorable deal terms and execution assistance. Members can search funds by geography and funding level.
What do you entrepreneurs think of TheFunded’s concept? Is it helpful to hear what others are saying about the venture world?
And what about the venture capitalists out there? What kind of weight do these comments carry for your business? Would you change your image if you got negative comments?
To read more about TheFunded, see “Web site puts ‘vent’ into venture capital” from The Wall Street Journal and “Who’s behind TheFunded.com?” from Inc.com.