Fund: Battery Ventures
Posted by LatinForMobility on 2007-11-09
I have to admit this is my first start-up, and I had never pitched to VCs, so my co-founder and I were definitely green (not unlike this site) when it came to judging VCs. We pitched a total of 5 firms, got term sheets from 3 of them, including Battery.
We selected Battery based on a few key criteria, namely they were very enthusiastic about our technology (Jason Matlof and Carl Stjernfeldt are were great), and they were up front up about issues that were going to be contentious, so I never felt like we were being duped (having great counsel from our attorneys, Orrick, and more experienced entrepreneurs helped)
Battery has delivered, they way they promised they would. They foster engagements with customers at the CxO level, provide great advice without taking over control of the company, not to mention housed us for almost a year at their offices.
They are not without some drawbacks, but my guess is that is going to be the case with any firm.
Carl Stjernfeldt (now with Castile) is a brutally honest, direct, no-nonsense kind of guy. He has demonstrated his ability to focus on the core issues and work with us to address them effectively, whether we are dealing with operational, financial, or BD related issues. You may find his personality "strong", but I have found that just as he can dish it, he is willing to take it. I consider him a friend and valued colleague.
Jason Matlof is insanely passionate about what he invests in. Having been a VP marketing at a startup, he has good hands on experience and remembers clearly the challenges that startups typically endure. In my estimation, our company would not exist if not for him. His passion needs to be tempered from time to time, but thankfully he is open minded and gives us the room we need to execute.
Ken Lawler stepped in when Carl left to Castile Ventures. While we were sad to see Carl leave, Ken has been a great addition. He complements Jason's technical acumen and "operator" experience with his background of do's and don'ts from his extensive background. A great source of sage advice.
All in all, I am happy, and don't feel screwed (like some of the other comments made here) I have been a reference for Battery, and once we IPO =) will likely go to them on my next startup.PRIVATE: Members Only (109 Characters)