By guest authors Irina Patterson and Candice Arnold Irina: What do you think entrepreneurs could do to be more successful? Dave: That’s very specific to the entrepreneur, depending on his or her experience and background. But one of the things I would encourage entrepreneurs to do is find trusted advisors; in particular, find trusted board
By guest authors Irina Patterson and Candice Arnold Irina: What is your biggest investment success to date? Dave: In my career? It probably would be SuccessFactors. When I invested in that company, it was a small team. A SaaS business, just a little over $2 million in revenue. I think the valuation was in the
By guest authors Irina Patterson and Candice Arnold Irina: How do you help entrepreneurs if you get a chance to know them better? Dave: If we got very far along in the process and didn’t for some reason decide to invest, or the entrepreneur didn’t decide to pursue with us – or vice versa –
By guest authors Irina Patterson and Candice Arnold Irina: What do you think in terms of returns? Dave: Every company we get involved in, we’d like to believe has the potential to be worth $1 billion someday. The multiple over time is not important to us. What’s important is the scale of the venture and
By guest authors Irina Patterson and Candice Arnold Irina: On average, how many pitches do you receive per month? Dave: From 50 to 75. Irina: And out of those, how many deserve a closer look? Dave: Every year we typically make, per investing partner – there are two of us [another partner is Dafina Toncheva]
By guest authors Irina Patterson and Candice Arnold This is the thirty-second interview in our series on financing for entrepreneurs. I am talking to Dave Whorton, the founder of Tugboat Ventures, an organization of investors who see themselves as not “venture capitalists” but rather as “mentor capitalists,” closer in spirit to the approach pioneered by