Love Thy VC Associate
Most people looking for funding want to go the MD of a VC fund. They want to track down the big fish. They will go to a panel discussion and go after the guys on the panel and try to shake their hand, pass off a card and beg for money. However, I beg to differ.
I would like to offer a different approach.
Meet the Associates in the crowd, the people that work for the guys and gals on stage.
Here’s why: They are the gatekeepers.
Who do you think reads your pitches and plans first?
Also, who do you think is hungrier?
Should the fund fail, there’s a good chance, the MD has X millions in the bank and associate has far less. Who is more motivated for success.
Let me go further. The MD already has proven himself (or at least convinced instititutional investors he’s a big swinging dick), the Associate is trying to impress the MD and bring in deals to prove his or her worth.
Often times, the Associate may be just as much in awe and want to impress the MD as you are.
So would you rather have an Associate that is in your corner, believing in your deal and pressing his or her bosses to fund it or be another spec on the radar for the MD, and possibly even an annoyance to talk to?
Influence the influencers, make friends with the gatekeepers and doors will open. Even if you know the king, that doesn’t mean you can get a meeting without first going through his consigliere.
Think about it …
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