Sramana Mitra: What stage did you get involved in either of these companies? Deb Kemper: For both of them, Golden Seeds was in their initial seed financing round. On one, I was on the seed. On another, I got in a little bit later. I didn’t invest the first time it came around. Sramana Mitra:
Sramana Mitra: You are preaching to the choir. It’s exactly our philosophy. We have a very clear philosophy of bootstrapping first and raising money later. We don’t take any equity. We are the largest virtual accelerator and we don’t take equity because I don’t believe you should be taking equity as an incubator or accelerator.
Sramana Mitra: What is the earliest stage at which they would go in? Would people go in with no product and just a concept? Deb Kemper: People would go in before validated product market fit. It’s between the concept and having that. At least a beta. We rarely go in on an alpha stage. We
Sramana Mitra: The corollary of our previous saying is that VCs love to come to the rescue of victory. That is also a very popular saying in our community. SC Moatti: It’s a very interesting point that you mentioned. What you’re saying is the traditional VC industry has whales and minnows. Some people are here
Responding to a popular request, we are now sharing transcripts of our investor podcast interviews in this new series. The following interview with Deb Kemper was recorded in May 2018. Deb Kemper is Managing Director and Chair of the Boston Forum at Golden Seeds, an Angel Group and Micro VC focused exclusively on women entrepreneurs.
Sramana Mitra: Why do you want minnows on the cap table? SC Moatti: Sometimes, you need them because they will help you early on. They will help you get started. Sramana Mitra: Then they don’t fall in the minnow category. If they’re passive investors, you don’t want them but if they add value, they’re not
Sramana Mitra: The story that needs to come together for the ecosystem to get the next level of boost is that there are a lot of acquisitions happening. Even here, the vast majority of exits are M&A exits. It’s not IPOs. IPOs happen but not that many. The strategic acquisition story just needs to come
Sramana Mitra: Is this the traditional way that you get involved in a company? Do you have people in your community who go out and raise funding and bring you into the cap table? Or are VCs also bringing you into the cap table? SC Moatti: In the example of Amplitude, we were brought in by