3.6
3.4 
3.3 
3.1 
3.3 Matrix Great Track Record Though Broke Trust During Negotiations
Fund: Matrix Partners
Posted by anonymous on 2007-12-31
Our experience was mixed. Matrix is on the lower end pitching efficiency, though we accepted it because we like the firm and the partner we were working with (Shirish Sathaye). The firm and Shirish had very relevant experience with our market and solution that was second to none. We passed the partners meeting and were negotiating terms when Matrix when they broke trust in negotiations. First red flag was said they would not do the deal with the VC firm that introduced us to Matrix, basically cutting the firm out of the deal. Then after verbally presenting terms (in the same meeting), they changed them and refuse to provide an updated term sheet until we verbally agreed. Due to these incidents, stopped pursing Matrix and closed funding from other top funds -- though it's unfortunate it ended the way it did -- as background reference checks demonstrated they their value add and operational competence.
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