We spotted this blog on xconomy, a US-based website, which investigates the thorny issue of investor relations between business owners and their benefactors pre and post-deal. It turns out entrepreneurs have quite a few gripes about VCs, who they see variously as “arrogant”, “absent-minded”, “slack” and “insincere”.
For entrepreneurs at the start of the funding process, pitching is a thankless task. VCs turn up late to pitches, flick through their Blackberries instead of listening to what’s being said and fail to follow up properly – even if they like the pitch.
The conclusion is that investors have all the cards and can act how they want. But it may not be as simple as that. One savvy commenter on the blog claims the most important aspect of a deal is to match ‘Real Entrepreneurs’ with ‘Entrepreneur VCs’.
Real Entrepreneurs are interested in building a business, not money stacks; while Entrepreneur VCs care about their portfolio businesses, not just their careers. It’s an interesting debate. Read the rest here.