Building the Best Seed Syndicates

View from Seed

At this point, founders find themselves in a luxurious situation of being able to build the best possible syndicate. It’s not necessary to nail down every element of your syndicate simultaneously. Building relationships with multiple partners at the firm. Having the lead partner agree to monthly “check-in” meetings post investment. These are the top consideration I can think of in building seed syndicates.

Syndicate Funding on AngelList – A Company’s Perspective

VC Adventure

A few months ago AngelList announced Syndicates - enabling investors on AngelList to create fund-like groups of investors to invest together in AngelList companies (following a single lead investor). How AngelList Syndicates (and FG Angels) Works.

Is @AngelList Syndicates Really Such a Big Deal?

Both Sides of the Table

If you track the venture capital industry it would be hard to miss the conversation going on this week over AngelList “Syndicates.” My favorite new VC blogger, Hunter Walk, weighed in with some thoughtful comments about how Syndicates might actually pit, “ angel vs. angel.”

Syndicate Funding on AngelList – A Company’s Perspective

VC Adventure

A few months ago AngelList announced Syndicates – enabling investors on AngelList to create fund-like groups of investors to invest together in AngelList companies (following a single lead investor). How AngelList Syndicates (and FG Angels) Works.

Mass Relevance Named First Re-Syndication Partner of Twitter

Austin Startup

Mass Relevance today announced that it has been selected by Twitter (blog post) as the first curation partner officially licensed to re-syndicate Twitter content. Content publishers can now work directly with Mass Relevance to publish and display syndicated Twitter content, as well as directly monetize the content through sponsorships or direct response.

Three New Types of AngelList Syndicates I Hope to See

Hunter Walker

So far most of the top funded AngelList Syndicates look, well, not surprising. Additionally, funds such as Foundry Group and Google Ventures have taken their own approaches – the former creating a separate early stage entity , the latter encouraging their seed stage partners to create standalone personal syndicates. As part of my seed fund Homebrew , we were also one of the first VCs to co-lead an investment alongside an AngelList syndicate (see Shyp ).

How to Evaluate Firms for a Seed VC Syndicate

Genuine VC

Term-driving investor approach – An entrepreneur finds a lead (quasi-)institutional venture investor to price and set the structure/dynamics of the round, working together to bring in additional syndicate partners (either/both other funds and individual angels). Active partner involvement level of lead partner post-financing – Venture firms approach involvement after a seed round wildly differently.

How VCs Structure a Syndicate and Recruit Coinvestors

David Teten

First, a formal definition: According to Capital Dynamics , “Co-investments are direct investments in a company made alongside and on the same terms as a lead [General Partner]. GPs strategically invite trusted [Limited Partners and others] to co-invest, often based on the LP’s ability to add value or when the amount of capital required to complete an attractive transaction is larger than they are able to invest alone.”.

This Week in VC with Dana Settle of Greycroft Partners

Both Sides of the Table

Our guest this week on #TWiVC was Dana Settle , partner at Greycroft Partners , a venture capital firm with offices in New York and Los Angeles. Current round: $35mm in Series C (extension of Series B at higher valuation) from General Atlantic, Matrix Partners.

Sharp Elbows Among Seed VCs

View from Seed

Historically, seed rounds were syndicated among several different firms. Today, we are seeing less syndication of seed rounds and sharper elbows among many of the funds in the market. Instead of broadly syndicated rounds, we are seeing much more competition for fewer slots.

Launching FG Angels To Make Investments on AngelList

Feld Thoughts

This morning my partners at Foundry Group and I announced that we are going to make 50 seed investments of $50,000 each on AngelList between now and the end of 2014. We’ll be doing this via AngelList’s new Syndicate approach through an entity called FG Angel where we will create a syndicate of up to $500,000, allowing others to invest $450,000 alongside anything we do. All economics, including the syndicate carry, go to our fund.

Our First FG Angels Investment in OnTheGo Platforms Has Closed

Feld Thoughts

This morning we announced that we have closed a financing in OnTheGo Platforms via our FG Angels syndicate. On October 1st, 2013 we announced that we’d be forming an AngelList syndicate called FG Angels and making 50 seed investments through AngelList by the end of 2014. from our Foundry Group funds for this effort and decided to max out the syndicate at $500k / investment, or $25m total. would come from syndicate participants.

Overclocking Content: How To Get More From What You Already Create by Yaro Starak

Gideon, my business partner, rarely reads my blog anymore. In an ideal world I’d have a team of outsourcers pounce on every blog post I write and ensure it’s made into all media formats and syndicated as far as we can take it. Tags: Content Creation Online Marketing & Internet Business Guides content distribution multimedia formats online syndication social media distribution viral marketing

Audio 61

Unintended Consequences: When SAFE and Convertible Notes Go Awry

Pascal's View

In contrast, there is limited benefit for being the 2 nd investor or the 10 th investor joining the syndicate of a priced round, so it is common for investors to wait to see “who else is involved”. Adult Education capital markets Corporate Governance Entrepreneur Entrepreneur Essentials Innovation Leadership Profiles Levensohn Venture Partners VC Board Best Practices Venture Board Governance White Papers Venture Capital Web/Tech

Ethos: What 'Blank Canvas' Means to NextView ? AGILEVC

Agile VC

My partners and I have blogged about some of these including Invited Guest , Golazo , Authentic , and Tribe. My partner David recently wrote about how investors tend to bring their own inherent biases (both good and bad) into pitch meetings with entrepreneurs. How to Evaluate Firms for a Seed VC Syndicate 10 July 2012, 5:13 pm What A VC Orders for Breakfast Says 27 June 2012, 10:16 am To Leave or Not to Leave as Your Startup Grows 12 June 2012, 12:21 pm.

Able Lands $6 Million in Venture Capital and Expands Nationwide


Blumberg Capital and RPM Ventures led the round with participation from Peterson Partners and Expansion Ventures AngelList Syndicate. Able, a non-bank commercial lender, Tuesday announced it has closed on $6 million in venture capital and plans to expand its services nationwide. The Austin-based startup plans to use the money to begin offering loans in 40 […] The post Able Lands $6 Million in Venture Capital and Expands Nationwide appeared first on SiliconHills. Austin

Final Close: The Story Behind NextView's Own Fundraise ? AGILEVC

Agile VC

My partners and I wanted to peel back the curtain slightly for those of you who’ve been following our progress, and also acknowledge the help and support numerous folks have provided as we got this new VC firm off the ground. We’re thrilled to have among our limited partners a select group of individuals from the startup ecosystem as well as several large institutional investors (including a university endowment, a corporate pension fund, and a multi-family office).

LP 100

Pioneer Square Labs – Investing More In Seattle

Feld Thoughts

We’ve made over 60 investments through FG Angels – our AngelList syndicate – and are one of the most prolific investors on that platform. We consider him one of our closest friends and most trusted partners in the VC world. I encouraged Greg to have an extensive syndicate of VCs and angels as the goal was to build an engaged, invested community around PSL. Pioneer Square Labs (PSL) launched today. We led the round and I’m joining the board.

Sonos + Alexa Strategy

Feld Thoughts

Or live music that is syndicated from a different partner. We all know that Sonos is finally working on an Alexa integration. As I sit here listening to Atom Heart Mother on my Alexa (via “Alexa, play Pink Floyd’s album Atom Heart Mother”), I so badly want it to play throughout my house on our Sonos, rather than just on my desk via Alexa.

Reading the Tea Leaves: Where Am I in My Seed Fundraise, Really?

View from Seed

We’ve written before on how to research partners , how to pitch the right investor at a given firm, and how to raise seed capital , generally speaking. What I mean is that after a first meeting with a single partner, that partner might say “Great discussion.

What is Duct Tape Marketing?

Duct Tape Marketing

Duct Tape Marketing is a brand partner – We are often called upon to produce sponsored content, syndicated and cobranded eBooks, training, channel marketing programs and consulting – for brands such as HP, Dell , UPS , FedEx Office , Sage Software and Microsoft.

Glowforge’s $22 Million Financing

Feld Thoughts

My partner Ryan’s son Quinn (who is 12) was in the office so we sat him down in front of the Glowforge, gave him an iPad with the Glowforge software on it, and he went to town making stuff in our conference room. We just led a $22 million financing in Glowforge.

It might not be a bubble but sure as hell the rent is too damn high!

Professor VC

The above was the opening salvo of a controversial tweetstorm yesterday by my former student and 500 Startups founding partner, Dave McClure (full venom below). It was a great product addressing a large market opportunity and was interested in seeing how the AngelList syndicate process worked.

10 Ways Entrepreneurs Find Money To Start A Business

Startup Professionals Musings

Negotiate an advance from a strategic partner or customer. These are professional investors, like Accel Partners , who invest institutional money in qualified startups, usually with a proven business model, ready to scale.

The Story Behind Our Investment In Fiddler Labs


Haystack is lucky to be a seed investor in Fiddler Labs, alongside Bloomberg BETA and Lightspeed Venture Partners, where I am also a Venture Partner. The ride is made even easier by knowing that my friends James Cham from Bloomberg BETA and one of my mentors and colleagues Ravi Mhatre, along with new Lightspeed partner Jay Madheswaran, will be forming a power-syndicate to help support Fiddler Labs and the future of Explainable AI.

How We Think About Values Versus Deeply Held Beliefs

Feld Thoughts

” Each of our funds is $225 million, we have four partners and no other investment staff, and we work out of the same office we’ve worked out of since we started in 2007. ”) But at the end of 2013, when the JOBS Act became official and AngelList created Syndicates, we decided to understand the phenomenon better by participating in it. Matt Blumberg, the CEO of Return Path, has an outstanding post up this morning titled The Difference Between Culture and Values.

Why Investor Titles are Important

This is going to be BIG.

The other day, I generated a lot of buzz and feedback around my assertion that calling yourself an “angel investor” should require a little more than small syndicate investments: You are not an angel investor if all your investments are less than $10k, made through @AngelList syndicates, and the founder doesn't even know who you are because you've never met. Now, everyone’s a partner, blurring the line around who can actually lead an investment and get a deal done.

Episode 124: Raising Money for Your Business with Susan Lassiter-Lyons

Mike Michalowicz

She began investing in real estate in 1994 by forming a small syndicate to purchase tax liens at auction. Since that modest start, she’s closed more than 600 transactions as an investor, broker, lender, syndicator and advisor. million in private capital from debt partners to fund hundreds of deals. Sponsored hedge funds/syndicates including multifamily equity offerings and private equity mortgage funds. Corporate Partners. Also Available On. Show Summary.

Can You Build Your Business on Somebody Else’s Platform?

Both Sides of the Table

DataSift was never built on a single platform and never desired or expected to be Twitter’s re-syndication provider as its sole business. Many of you will know that Twitter unexpectedly cancelled it’s contract to allow DataSift to resell Twitter data to 3rd parties.

Accidental VC: When Should Startups Announce Seed Funding?

View from Seed

Be sure you have an honest and direct discussion with your lawyers, who should be viewed as true partners who understand these things. These are great data points for a VC to receive soon after partnering with an entrepreneur.

5 Questions VCs Never Answer, Answered by a VC | #BOSSOI

View from Seed

Our investment size may differ slightly from one company to the next, but it tends to be driven entirely by situation-specific factors (needs of the company, syndicate composition, anticipated reserves, etc) … and not based on our belief.

Boston 305

Will Seed Funds Be Multigenerational?

Hunter Walker

Also, a partner who is transitioning into a non-FT role going forward. Not recruiting new Partners, not chasing LPs so that we can raise several hundred million dollars more next time around.

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Seed Round Signaling Revisited: Myths, Truths, & Half-Lies

Genuine VC

Yet even today, whether or not to take a (relatively) small check in a seed round syndicate from a multi-hundred million or even billion dollar fund is still a decision which takes quite a bit of consideration and sometimes consternation. It seems as though it’s been talked about ad nauseum in the blogosphere, but we see first-hand as entrepreneurs we’re investing in at NextView Ventures work through building their seed round syndicates, it really is a tough issue.

Bright future for London VC scene

The Equity Kicker

Gil Dibner has built a $550k syndicate on Angel List which Techcrunch says is ‘thought to be the largest outside the US’ There’s another decent sized fund by a prominent VC that’s launching shortly.

10 Tried-And-True Strategies For Funding New Ventures

Startup Professionals Musings

Negotiate an advance from a strategic partner or customer. These are professional investors, like Accel Partners , who invest institutional money in qualified startups, usually with a proven business model, ready to scale.

SBA 305

When Should Startup Founders Discuss Valuation with Seed VCs?

View from Seed

Sharing these pricing expectations early with potential lead investors fundamentally qualifies your conversations, but it also runs the risk of prematurely losing a potential financing partner, or else it can reduce options to maximize your fundraise outcome.

What’s the difference between angels and seed VCs?


On the flip side, through the rise of syndicates, angels are now more akin to VCs. A couple of Gil Penchina’s AngelList syndicates, for example, rival big series A firms; he has millions of dollars to do a deal. I round up a whole bunch of my rich friends to back this syndicate.

A Choir of Angel Investors Sing Different Parts

Genuine VC

PROS: Industry-insider who serves as a validator for the rest of the investment syndicate, extremely helpful advice and network connections. Having someone who the entrepreneur(ial team) has worked with before can be a good validator to other syndicate investors and future investors that they all work well together. PROS: Over-the-top encouragement and support, a cheerleader as a balancing voice amongst what-have-you-done-for-me-lately investor syndicates.

“Your Portfolio Is Your Path”


Slowly I have learned – the association investors have with certain founders, syndicate partners, and downstream VC firms matters; the people one chooses to work with as investor matters a great deal; and while the decisions may happen quickly, they stick around for a long time. You are the average of the five people you spend the most time with. You are what you eat.

The NextView Ventures Manifesto

View from Seed

We are also seeing more investors try to be a part of syndicated A rounds for companies that are raising $5M or more and are really not what most would consider “seed” stage. That said, we tend to be very flexible on syndication to bring on great partners, and have collaborated with terrific partners like our most frequent co-investors Founder Collective, Accomplice, LHV, Softech, and others.

Micro VCs Are all BFFs. Forever?

Genuine VC

Micro VCs are notorious for building large and friendly syndicates. While traditional VCs sometimes have a love/hate relationship with their syndicate partners (often depending on how well their mutual portfolio companies are performing), it seems as though in the Micro VC arena all of the players speak and act like best friends. Therefore, the most obvious reason for Micro VCs to syndicate more prevalently is due to capital constraints.

Let Me Count The Ways Entrepreneurs Fund Startups

Startup Professionals Musings

Negotiate an advance from a strategic partner or customer. These are professional investors, like Accel Partners , who invest institutional money in qualified startups, usually with a proven business model, ready to scale.

VC Seed Funding Example: Trada

Feld Thoughts

My partner Seth Levine has a detailed post up today titled Trada – from the beginning that describes the creation and financing of Trada. In this case neither Niel (nor I) had any interest in creating a traditional syndicate to fund the company. Foundry Group is the seed investor in Trada and Seth’s post describes one example of what I think is effective VC seed investing. The meat of the funding story follows: “Of course coming up with the idea is the easy part.