what is venture building?

Posted by in Investing

Our website proudly proclaims ‘We are Venture Builders’ – but what does that mean? First let’s start with what it isn’t. It isn’t ‘incubation’ as incubation is generally short-term. Our Venture Building is a commitment of 5+ years. It isn’t ‘acceleration’ as again acceleration is equally short-term. It isn’t ‘investing’ [replace with venture capital or […]

cart before horse? conditional capital?

When you start a fundraise process there is only one guarantee. Not that you will either successfully, or unsuccessfully, fundraise. But that you will be faced with a multitude of, often polarised, opinions. This can be super helpful, insightful and value-add but also, more importantly, occassionally confusing and disruptive. I would never give advice in […]

six years and a new website

When we started doing this six years ago there was a (semi) vision of getting involved in exciting multi-tenanted SaaS start-ups and helping them navigate the challenges of dealing with the whims and foibles of the investment community. It was born out of eight years in Private Equity and understanding that it wasn’t only how good […]

it’s who you are more than your money that matters

The longer I spend with young companies the more it reinforces my view that angel investing/venture capital/private equity (etc… etc…) should be much less about ‘financial products’ and much more about people based service industry with a strong financial overlay. When I originally joined the private equity industry (now left) my employer at the time […]

keeping control

I have blogged a few times about equity splits, pre and post money valuations and to be focussed on the end value of a stake rather than the emotional ‘percentage’ when capital raising (for example alignment of interests). However in a recent blog post (I doubt it’ll be a majority stake)  I made the point that […]

‘deal’ origination, really?

I suppose this is more of an observation rather than a blog post. My observation is on the old-school focus of ‘deal’ origination as it is still referred to in a good number of private equity firms. I was recently approached by a chap who’s role was ‘Deal Originator’ and it struck me then (perhaps […]

I really doubt it’ll be a majority stake…..

Often when meeting entrepreneurs for the first time you are faced with the inevitable question ‘how much equity will you want’? An important, emotive and understandable question even if it is challenging to answer in an initial meeting. The fear is always that you will want a majority of their business. And I agree that […]

growth vs paying shareholders – the disconnect

Bit of a dry one this, my apologies. But super important. Basically the need to look at the entirety of the investment proposition and to consider the medium term impact of investment terms rather than just looking at the pure ‘what % am I giving away’. I’m a little bit old-school when it comes to […]

it’s not that complex

A friend of mine, @concannon, tweeted the other day that the challenge for him in his social media role is that “The hardest part of my job is making people see that most of this stuff is much simpler than they think. They expect complicated answers.” I particularly liked this as a tweet as I […]

alignment of interests

A difficult and abstract subject to blog about, however the requirement for alignment of interests between investor and entrepreneur in growth capital situations is a firm belief of mine. This alignment is driven by the structure of investment agreed between entrepreneur and investor. Please bear with me! At it’s most basic, I am a fan […]