For today's Insights and Opinions article, we have an article from Ryan Born, CEO of AudioMicro, on his experience fundraising in Los Angeles. In an article that is sure to spur many comments and a few flames, Ryan gives his opinion on the 3 Things to Avoid When Fundraising in LA.
It's been over 3 years since I moved to LA and started what I'll call the Los Angeles Venture Capital "fundraising scene". Over the past 3 years, I've raised a good deal of money (some disclosed, some undisclosed) and I've formed a few opinions along the way, which I'm going to share here in hopes that you can avoid wasting valuable time as you go about your own fundraising efforts in Los Angeles.
1. DON'T PITCH THE BITCH (i.e. Don't pitch "Associates")
In this instance, "the bitch" = "the associate at a VC firm" (gender agnostic). Don't waste your time pitching associates at VC firms. In my opinion, VC associates have absolutely ZERO decision making ability / influence and will likely leave the firm within a 2 to 3 year period for one reason or another so any long term firm relationship you to wish establish through them will likely fade. Don't bother with associates, it's just a waste of your time. Instead (More...)
For the rest of Ryan's article, read 3 Things to Avoid When Fundraising in LA.