Fund: Sofinnova Ventures, Inc.
Posted by Anonymous on 2008-06-24
Has a well-deserved reputation of being entrepreneur unfriendly, taking advantage of inexperience and making empty promises. Job #1 is to get rid of founders, steal their stock and install compliant cronies/family into management roles. Many examples.
Unethical business practices include stock options for VC directors into their termsheets (this is double-dipping, and is at the expense of their LP's and Portfolio company management - they get hefty management fees and share in the carry already).PRIVATE: Members Only (676 Characters)