Tag

strategy

People Are The Price of Admission

In my post recently titled Does VC Fund Differentiation Matter? several people commented on some variation of “people” as the key to everything. I don’t view people as differentiation. I view them as the price of admission. Amy just walked by, read this over my shoulder, and said: “I don’t know what that means.” Hopefully, by the…

Does VC Fund Differentiation Matter?

I’ve met and emailed with many pre-seed and seed GPs in the past year. Over sushi last night with two of them, who are also long-time friends, one of them asked me “Brad, how do you think we are differentiated?” This generated a rant from me that went something like this. There are over 500…

The Journey From $1m MRR to $2m MRR

There’s a long-standing cliche concerning SaaS companies that once you get to $10m in ARR you are unkillable. As Jason Lemkin says in his post from early 2013: Inevitability in SaaS comes around $10m in ARR, plus or minus. Once you hit this point, you have a brand, you have a fully baked team, you…

Your Truth vs. The Truth

I’ve been thinking about what “truth” means lately. With almost no effort I can find contradictory articles, thoughts, perspectives, statements, and opinions on almost everything being discussed today. I’m sure our election cycle is amplifying this, but I see this in a bunch of stuff I’m reading about tech as well. As someone who views…

How To Beat Michael Jordan At Sports

I had a great interaction with a friend several months ago. The question he asked was: “How do you beat Michael Jordan at sports?” I thought about it for a second. I knew Michael Jordan was a good golfer and I don’t play golf. I figured he was in better shape than me and could beat me…

Our 2016 Foundry Group Fund and A Little History

Yesterday we closed our fifth fund, Foundry Venture Capital 2016, L.P. As with all four of our other funds, it’s a $225 million fund. In 2007 we raised our first fund – Foundry Venture Capital 2007. We subsequently raised a $225 million fund in 2010, another one in 2013, and a late stage fund in 2013….

Hope Is Critical To A Strategy

There has been a cliche going around the last decade or so that goes “hope is not a strategy.” It inspired a book titled Hope Is Not a Strategy: The 6 Keys to Winning the Complex Sale and is repeated often by VCs in boardrooms when they are confronted with companies that are flailing, especially…

Too Many Seed Investment Choices

Yesterday I sent emails out passing on participating in two seed rounds for companies I really like. They had lots of investors trying to invest and each company was competitive with two other seed stage companies we’ve seen in the past 30 days. All are exciting, all are working on something that we like, and…

Deciding Not To Do Something

My partners at Foundry Group and I decided not to do something after a month of thoughtful deliberation. The decision is fresh so I’m not going to talk about the specifics, but our conclusion was that while it would be relatively easy to do and potential financially lucrative, it wasn’t consistent with our strategy. I…