By guest authors Irina Patterson and Candice Arnold Irina: So, what’s your return target? Dave: I think 10x to 20x is the ideal target. Obviously, if we get more than that, that’s great. But that’s probably not the typical scenario. In most cases things don’t work and usually we get zero. I think we have
By guest authors Irina Patterson and Candice Arnold Irina: Do you hold any events for entrepreneurs? Dave: Actually, I put on a decent-sized 300- to 500-person conference on a quarterly basis. I also run a lot of user groups and events, meetings, and dinners. We’re running one called Warm Gun, a conference about design and
By guest authors Irina Patterson and Candice Arnold Dave: We are a little bit different from many other programs where the advisors are primarily coming from the investor category. In our world, those are mostly coming from the operational field category. Most of our mentors are coming from engineering, marketing, or design backgrounds, maybe product
By guest authors Irina Patterson and Candice Arnold Irina: How many investments have you made? Dave: It’s a little hard to keep track at times, those deals are things that I’ve been working on since the beginning of the year, probably 43, maybe 44 in calendar year 2010. Although the fund’s only been operating for
By guest authors Irina Patterson and Candice Arnold Dave: I was fortunate to have folks like Reid Hoffman and other folks as mentors or guides. They gave me a few tips. I ended up doing some consulting for and also becoming an investor in Mint. That was one of the more notable investments that I’ve
By guest authors Irina Patterson and Candice Arnold This is the thirtieth interview in our series on financing for entrepreneurs. I am talking to Dave McClure, an angel investor and the founder of 500 Startups, which is a seed fund and startup accelerator based in Mountain View, California. Irina: Hi Dave, Let’s start briefly with