By guest authors Irina Patterson and Candice Arnold Irina: How do you spend time with the entrepreneurs? Brad: They come to us and we go to them; we spend a lot of time together. I think it’s really us developing that relationship with them. We made an investment recently in a company called Sifteo, I’m
By guest authors Irina Patterson and Candice Arnold Jeff: The one thing that we have going for us is that we do see so many patterns and so many deals and teams. We’ve done so many experiments – eighty-two, in my case, over six years – and seen what’s successful and what’s unsuccessful. Each deal
By guest authors Irina Patterson and Candice Arnold Irina: Do you require the people to have senior executive experience? Jeff: No. Half of my entrepreneurs are first-time entrepreneurs. The youngest entrepreneur I’ve backed was nineteen, and he had already done three companies. I think the oldest entrepreneur I’ve backed was fifty-five.
By guest authors Irina Patterson and Candice Arnold Irina: Have you ever thought about what could make your deal flow more efficient? Brad: I like the chaos. I like the randomness of it. I have plenty of interactions with people. I try to learn at least one thing in every interaction. We’re very focused on
By guest authors Irina Patterson and Candice Arnold Irina: Do you think about the return you would like to have over a certain period? Jeff: I don’t really think about the term in terms of time because you can’t force exits, you can’t precipitate things. You can’t say, “Hey, I want this performance over this
By guest authors Irina Patterson and Candice Arnold Irina: Let’s talk about your deal flow. Where do you get your deals from? Brad: They come from all over the place. I think a chunk of them come from people who we already either know or have an existing relationship with, who we’ve worked with before.
By guest authors Irina Patterson and Candice Arnold Irina: In the past twelve months, how many investments have you made? Jeff: In terms of new investments, not follow-ons, I did twelve. Irina: What was the average dollar amount that you invested? Jeff: Those were between $100,000 and $200,000.
By guest authors Irina Patterson and Candice Arnold This is the fifteenth interview in our series on financing for entrepreneurs. I am talking to Brad Feld, managing director of Foundry Group , venture capital firm focused on making investments in early-stage information technology, Internet, and software startups, based in Boulder, Colorado.