Ever Wonder if that VC was playing fairly?

If you have not visited the site “The Funded” it is well worth taking this look at deep inside the VC (Venture Capital) business to see who on average has a good, bad, or ugly experience with various VC’s in the world. Techchrunch broke the story here this morning, so we went to go take a look and see what we could make of it.

First, fundraising is far too time consuming for the entrepreneur, wasting valuable time required to grow the business. Second, the fundraising process is often like speed dating with a long-term relationship at the end, and you split the proceeds. Everyone puts their best face on, and it is only when the deal is done do you get to see the real value, if any. I have personally been burned, and so have many of my friends. Source: The Funded

When ever you get into personal stories they become compelling over time especially as similar stories are similar in experience and depth. While people who have a stake in the process need to know what kind of people they are dealing with, the people who are making deals with VC’s should know what kind of folks they are dealing with.

This is what makes the web site so important as a resource when a company is looking to find the right VC that even if you can’t get to all the comments, there is enough free information to get a feel for what you as a person looking at funding is going to find on the other side of the table.

The good part is that of the many companies that are listed, it is a global listing not just related to the companies you will find in the USA. You have to be invited in, an entrepreneur or similar to get full access to the site. So if you know someone who is already a member it is worth asking to see if they can invite you in. Follow the directions carefully on what you need to be doing to get access to the site as well. They say they reject 75% of all entires because they didn’t follow the rules.

The other good thing about the site is that the information is not just a one way flow, the VC’s also get the chance to rebut the information and give their side of the story. Makes for an interesting site to visit and well worth taking a look.