Recently, I had a chance to have a casual conversation with an influential VC. As the conversation went on and after a few drinks we came to the subject of entrepreneur-VC relationship.
He was saying how mad he gets when he hears entrepreneurs saying that VCs bring nothing more than money to the company. Given their vast experience they must be qualified enough to help overcome challenges that newly founded companies are facing. What is your opinion on this?
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Ravi - In my lectures I point out 7 different types of investors that anyone that is raising capital needs to be aware of and understand the function(s) of each type. Most entrepreneurs raising less than $5 million will never deal with a VC and my own experiences are that many investors who call themselves VC's are actually ANGEL INVESTORS in disguise who I actually call DEMON INVESTORS.
Having said this, I seldom see or know of VC's that are willing to contribute much more than money unless they take control of the opportunity and run it.