Nice post Matt - and thank heavens for Silicon Beach too I say :-) On Sep 13, 8:26 pm, Matt <[email protected]> wrote: > Hi Renai > > Thanks for the write up :) > > I was trying to find another early stage VC-fund investment in IT in > the past 6 months and found it very difficult. > > VC funding is not particularly sought after by typical web-based start- > ups these days for two key reasons: > > 1. I look to invest $1.0 - 3.0m in a Series A round, most start-ups > these days can get to cashflow positive on a lot less and that's where > the average entrepreneur is happy to either stop thinking about extra > capital ("I am cashflow positive already") or start believing in > valuations that would mean my $1-3m would not give me any substantial > stake in the business. > > 2. Our terms are very very tough compared to family and friends or > private equity or just about any other form of investment money. We > ensure very strong downside protection, which frankly is very off- > putting for many entrepreneurs > > Read VentureHacks to get an idea where VC sits in the cycle, you can > get a lot from Angels if you can find them, but a VC is mean to help > propel a business to the next level and should bring a lot more than > cash. I have sat on both sides of the table, I don;t pretend for an > instant that I can bring the networks or skills of the average Silicon > Valley VC but from little ol' Perth I can certainly help a business go > international for the first time. > > Agworld was an exception opportunity for us, great management, an > understanding of the value of VC and some great early traction with > customers built on the back of some serious sweat and real cash from > the founders. Hats off to them for seeing where Yuuwa could fit in > and giving us a chance > > Matt > Co-founder > Yuuwa Capital LP > > On Sep 13, 8:42 am, Renai LeMay <[email protected]> wrote: > > > > > Innovation Bay is constantly calling for people to come and pitch to > > them, and now this drops out of the 'sky' -- or should that be the > > 'Yuuwa'? ;) > > > Perth VC pumps $1.5m into agriculture IT > > startuphttp://delimiter.com.au/2010/09/13/perth-vc-pumps-1-5m-into-agricultu... > > > I am beginning to suspect that the whinging about a lack of VC capital > > in Australia is just that ... whinging. > > > Thoughts? > > > Renai > > Publisher, Delimiter > > > PS I am heading to the next Innovation Bay dinner -- will be > > interesting to see what the sentiment is on the issue there.
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