Fund: Foundation Capital
Posted by mes162 on 2008-02-23
We pitched Charles Moldow for our Series A and he decided to pass (he did this respectfully, making sure to call me personally and walk me through his reasoning for why they weren't interested right now, but might be in the future).
A month after we closed our round with another top-tier fund, I contacted Charles regarding a product development project I was overseeing. The project involved visiting someday-potential customers to observe future users of our product as they carry out the process that our software solution will address. I asked Charles if he'd be willing to make an introduction to one of Foundation's portfolio companies, who also happens to be one of the most well known/respected brands in the world. I had a response from him almost immediately, and within a week he had helped set up an in person meeting with the company's CIO.
Lots of VCs say that they "add value". This is one of the few that does. Charles had no motive to make this introduction for us, or help line up a very important meeting for us, other than to help out entrepreneurs at an early stage company trying to build a successful product. If this is the kind of help he offers to people at companies that he passes on, I can only imagine the value he adds to companies that he decides to fund!PRIVATE: Members Only