By guest authors Irina Patterson and Candice Arnold Basil: I appreciated, after doing investing for a while, that the venture capital stage in the process was no longer necessary in well over 99% of tech companies. I sold my stake in the venture fund that I had cofounded and instead launched what would most commonly
By guest authors Irina Patterson and Candice Arnold This is the eleventh interview in our series on financing for entrepreneurs. I am talking to Basil Peters, an angel investor with a passion for exit transactions who has been founding, financing, growing, and selling technology companies for over two decades. Based in Vancouver, British Columbia, Basil
The next free, online 1M/1M Strategy Roundtable for Entrepreneurs will be held this Thursday, July 8, 2010, starting at 11 a.m. EDT/8 a.m. PDT/8:30 p.m. IST. We hope you will join us and let other entrepreneurs know. You can find more details and register here.
Logic Software started as a custom development house and still does custom work, but in 2003 it started working on its first “shrink-wrapped” product – Easy Projects.NET, a Web-based project management software. Easy Projects now accounts for about 95% of the company’s revenue.
SM: How did you accomplish the financial engineering of the company ramp and product development? GS: Series A was $8 million, which the company had in place before I arrived. That was enough to build the security product.
By guest authors Irina Patterson and Candice Arnold Irina: What advice would you give to angel-backed companies to increase their chances of success? Pete: I think the ability to manage cash efficiently while still hitting milestones. We want to know how you are going to use our money to get to your next milestones efficiently.
By guest authors Irina Patterson and Candice Arnold Irina: You get about 150 deals a month and out of those 150, you invest in one deal a month, so what do you do with the other 149? Pete: Some of them stay in the process and we keep in touch with them, or they make
Happy Fourth of July to all readers in the United States. Readers around the world can enjoy my World Cup diary. Next match: Uruguay vs. the Netherlands on July 6.