Alan Patricof is
one of the most experienced and successful VCs around. He was one of
the founders of Apax Partners which is one of the most
successful venture and private equity companies in European history and
his investment successes include Apple Computer and AOL. Most recently
he founded an early stage venture fund called Greycroft Partners based
in New York and they have just closed their second fund.
Raising the money for that second fund was hard work, even for a man with Alan’s experience, and he has written at length on exactly what they had to do on Business Insider. The whole post is well worth a read. I’m going to bring out three highlights.
First the stats – they had to talk to a LOT of people:
We had 515 contacts, of this, roughly 250 passed for various reasons and 100 were non-responsive. We had 154 visits, 97 due diligence requests, 33 second visits, and 12 reference requests, to ultimately produce 9 institutional investors.
That’s less than a 2% yield of all contacts and 6% of first meetings.
To read the full, original article click on this link: Raising money for a venture capital fund is a bit like raising money for a startup | The Equity Kicker
Author: Zemanta
