Disappearing Team
Fund: Summit Partners
Posted by Anonymous on 2008-05-01
Our company pitched Summit Partners on an investment opportunity in the digital media space. While they expressed significant interest initially, they fell off the map shortly thereafter. After a few persistent phone calls I discovered that three members (out of five) of their Internet media team had left the firm. So, not only was our deal going nowhere with this group, they didn’t have a group to move forward with. One other note â€" Summit Partners is a venture capital firm that wants to be a private equity firm. This leads to them to look at growth equity deals, but they are really still seeking a venture return.
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