SM: When you were flying out to your 25 potential customers and converting three of them into very large customers, what was the competitive landscape? GS: There were a lot of existing vendors. CipherTrust was a player; it turned into Secure Computing and was then bought by McAfee.
By guest authors Irina Patterson and Candice Arnold Irina: What level of experience do you require a company’s team to have? Pete: We’ve invested in people who are in school, out of school, senior executives. I think what they’ve got to have is the ability to concisely present the opportunity that they have and make
By guest authors Irina Patterson and Candice Arnold Irina: What percentage of a company’s equity do you usually seek? Pete: Typically, anywhere from 10% to 30%, depending on the round. Irina: What’s the typical return that you’d like to receive? Pete: We’d like to get seven times to ten times in five to seven years.
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The game has changed. German speed and precision devastated Argentina. The latter team looked slow, haphazard, irritated, frustrated, and without direction, without strategy. Germany, on the other hand, is looking superb! With every game, they seem to improve, gain further confidence, and blossom.
SM: Once you had a large enterprise willing to test the product for the first time, how did you handle the test? GS: I put our engineering team on-site because I knew that they would find bugs. You can’t deploy new technology and not find bugs.
By guest authors Irina Patterson and Candice Arnold Irina: Do you hold regular meetings? Pete: Yes, most of our funds meet every other month. And then they usually have screening committees. Some screening committees are monthly; some are a little bit ahead of the member meetings.
By guest authors Irina Patterson and Candice Arnold Irina: Is there any place on the website where entrepreneurs can e-mail you? Pete: On our general website, we’ve got my bio on there with an e-mail. The issue is, though, we have to have a RAIN Fund in the area. So, if someone from Arizona sends