Fund: Formative Ventures
Posted by Anonymous on 2007-11-11
The basic facts about Formative Ventures go a long way to describe the advantages and disadvantages of working with them. The firm was formed in 2000 and their current fund started in 2005. They have three general partners.
There are a couple important advantages due to Formative's age and size.
First, they are extremely energetic, have an incredible work ethic and will bend over backwards to make sure the entrepreneur succeeds. Because they are working on their first large fund, they are hungry to prove themselves. Combine this energy with their collective real world experiences in product design, sales, marketing, operations and finance, and they will provide you with the all the assistance and guidance you need.
A second advantage of their simple org chart is that you don't have to deal with a gauntlet of associates and EIRs to get to a real decision-maker. All three of the partners are very responsive and hands-on, and return phone calls and emails.
The downside of the firm's "youthfulness" and size is that their personal relationships in a range of industries are not as wide and deep as those one would find at an older, larger firm with deeper roots. With age comes wisdom. (Don't get me wrong, these guys are really smart and insightful. But 5 years from now they will be even smarter and more insightful.) In the right situation, Formative would be an excellent syndicate partner with a larger established firm so you get the benefit of both.
Is Formative right for you" If you think so, ask them. The good thing is they will listen carefully and then give you an honest answer.PRIVATE: Members Only