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5.0 Before And After Funding: Thoughtful, Helpful... Great For An Operator
Fund: Polaris Venture Partners, L.P.
Posted by jsuh on 2007-10-15
Similarly surprised by some of the comments here. Something doesn't jive. We were fortunate to have a very competitive fundraising process, and were lucky to receive term sheets from an unbelievable group of investors. Our team had earlier learned the hard way how a bad investor can really set you back, so the decision to go with Polaris was taken very seriously. Alan Spoon and Jason Trevisan sit on our board and so far, so great. They ask insightful questions, give great advice, and are generous with their ample roledex. They are genuinely passionate about our business and take a long-term view to building it. Investors often talk long-term, then put pressure on near-term profits almost immediately. We were impressed how Alan (while President of the Washington Post) bought Kaplan, sacrificed short-term profitability to own the market, and built it into something substantially more valuable. Conviction and staying power... as an operator, that's what you want in a board. It also doesn't hurt that you can throw back a beer with either. Life is short. Also happy to share my experiences in detail with a fellow entrepreneur.
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