recently rated:

Rated by 15

2.9 3.3 2.9 2.9 2.9

3.0

Bain Capital Ventures

 

$$$$$ Boston, US East

top rated funds:

Rated by 16

3.8 4.5 4.0 3.8 4.2

4.0

Rincon Venture Partners

Certified

$$$$$ Santa Barbara, CA, US West

Rated by 16

4.2 4.1 3.7 4.2 3.6

4.0

Andreessen Horowitz

Certified

$$$$$ Menlo Park, US West

Rated by 43

3.6 3.8 4.2 4.2 3.8

3.9

True Ventures

Certified

$$$$$ Palo Alto, US West

Rated by 11

3.9 4.2 3.2 3.6 4.0

3.8

Mangrove Capital Partners

Certified

$$$$$ Luxembourg, Europe

Rated by 45

3.8 4.1 3.3 3.7 4.0

3.8

RRE Ventures

Certified

$$$$$ New York, US East

Rated by 107

4.7 3.8 3.7 3.1 3.6

3.8

Sequoia Capital

Certified

$$$$$ Menlo Park, US West

Rated by 33

3.9 3.8 3.8 3.4 4.1

3.8

Altos Ventures

Certified

$$$$$ Menlo Park, US West

Rated by 32

4.0 4.1 4.0 2.8 4.1

3.8

406 Ventures

Certified

$$$$$ Boston, US East

Rated by 64

3.9 3.8 3.8 3.4 3.9

3.7

First Round Capital

Certified

$$$$$ San Francisco, US West

Rated by 23

3.6 3.5 4.0 3.6 3.9

3.7

DFJ Mercury

Certified

$$$$$ Houston, US Central

Rated by 27

3.8 3.6 3.8 3.8 3.6

3.7

FLOODGATE

Certified

$$$$$ Palo Alto, US West

Rated by 11

4.0 3.8 3.9 2.9 3.8

3.7

Updata Partners

 

$$$$$ Red Bank, US East

Rated by 13

3.7 3.8 3.8 3.4 3.8

3.7

IDG Ventures SF

Certified

$$$$$ San Francisco, US West

Rated by 11

3.6 3.7 3.6 3.8 3.4

3.6

Flywheel Ventures

Certified

$$$$$ Santa Fe, US West

Rated by 19

3.7 3.6 3.8 3.5 3.5

3.6

August Capital

Certified

$$$$$ Menlo Park, US West

Rated by 64

3.8 3.5 3.4 3.5 3.9

3.6

Trinity Ventures

Certified

$$$$$ Menlo Park, US West

Rated by 15

2.9 3.6 3.8 3.3 3.8

3.5

Merus

 

$$$$$ US West

Rated by 21

3.5 3.6 3.6 3.2 3.4

3.5

Wellington Partners

Certified

$$$$$ Munich, Europe

Rated by 12

3.2 3.6 3.4 3.0 4.2

3.5

DN Capital

 

$$$$$ London, Europe

Rated by 30

3.3 3.4 3.3 3.7 3.7

3.5

Clearstone Venture Partners

Certified

$$$$$ Santa Monica, US West

Rated by 28

3.7 3.0 3.0 4.0 3.3

3.4

The Founders Fund

Certified

$$$$$ San Francisco, US West

Rated by 49

3.7 3.4 3.1 3.4 3.2

3.4

Menlo Ventures

 

$$$$$ Menlo Park, US West

Rated by 16

3.9 3.7 2.9 2.9 3.6

3.4

Versant Ventures

 

$$$$$ Menlo Park, US West

Rated by 10

3.6 3.4 3.9 2.7 3.3

3.4

DFJ Esprit

Certified

$$$$$ London, Europe

Rated by 13

3.0 3.8 3.5 3.2 3.4

3.4

Fidelity Growth Partners Europe

Certified

$$$$$ London, Europe

Rated by 16

3.9 3.6 3.1 2.9 3.5

3.4

GRP Partners

Certified

$$$$$ Los Angeles, US West

Rated by 61

3.8 3.3 3.0 3.5 3.4

3.4

New Enterprise Associates

Certified

$$$$$ Menlo Park, US West

Rated by 17

3.5 3.4 3.4 3.5 3.2

3.4

Scale Venture Partners

Certified

$$$$$ Foster City, US West

Rated by 39

3.4 3.4 2.9 3.4 3.5

3.3

Polaris Venture Partners

 

$$$$$ Waltham, US East

Rated by 28

3.4 3.4 3.4 2.8 3.3

3.3

Union Square Ventures

 

$$$$$ New York, US East

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The New York Times ran an article on the role of the business plan in venture funding. Seems to confirm the general wisdom, but interesting anyway.

http://www.nytimes.com/2009/05/14/bus...

I am preparing my pitch my business to some VCs and I've got a 30-slide PPT ready. I'm reading through the threads here and seeing that a business plan may or may not be necessary anymore. I don't have one at the moment but am thinking of starting the process and write one if someone asks to see it. What do others think of this strategy"

We are close to completing our business plan, and are thinking ahead to the next step: document production.

What do VCs prefer with respect to the final look and feel of a document" Do they want something glossy and flashy; off-set printed with perfect binding; designed to look like a high-end magazine" Do they prefer a plain report printed on regular white paper, coil-bound, with a clear plastic cover"

Will a document that looks like it cost more to produce get VCs to open it with more interest than one that looks like it was printed on a home office ink-jet" Or do VCs only care about the facts and figures"

How important is this first impression"

Part of the science of getting in the door of a VC is to stand out from the crowd. Unfortunately, inertia is often a big factor in business plan screening. Contrary to popular opinion, every word of every plan is not read. First the plan gets a glance. Then it gets a skim. Then it gets a more detailed read. But every step is contingent upon the reader finding a reason to go the next one.

Here's the truth: most investors screen out rather than screen in. Especially if they're overwhelmed and very time constrained as most are.

This means:
• if your business overview looks like it needs to be deciphered - you're out
• if they don't see what they are looking for in a glance - you're out
• if they don't have all the information they need to know -you're iffy

Eliminate objections and pessimism before it arises by explaining in a very well thought-out cover letter what makes your business different - and position it as one that's advantageous to the firm's objectives, if you can.

Your business overview is a screening tool. It's the point person on your investor search. It needs to screen you in, and it needs to do that by being read, not ignored. If you want to get in the door, this is one of the keys that can open it.

Do not count on an NDA to keep your business plan out of the hands of those you would least like to see it. Early in my venture career, I believed, falsely, that this would inhibit VCs from sharing the plan. I learned the truth later, when I ran a VC funded company. My investors and those who wanted to ingratiate themselves to me would send confidential material they received directly to me for review. Some times it was to help advise them on certain technologies, and at other times, it was to provide a heads-up on competitive technologies.

Just assume that whatever you write/present will end up with someone (including large corporations) that you would least like to see it. You are better off posting it on Internet!