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2.3 Dcm: *Do Careful Reference Checks*
Fund: DCM-Doll Capital Management
Posted by Anonymous on 2008-10-17
We were recommended to DCM because they can help in Asia as we look to expand internationally. I was also given strong caution warnings by many well known executives. The initial meetings were good, however, we then had some challenging encounters that threw up red flags. We therefore dug under the covers and reference checked the partners. Its a mix bag-mostly negative. Its a waste of time to call their existing company CEOs, as they will only say good things (no objectivity as investor/board member dictate their salary and job security). Need to talk to executives, founders and prior CEOs that are not directly involved and you will discover the truth. We took the same approach with 2 other VC firms where we received term sheets and the offline reference checks were very positive. Glad we dodged a bullet.
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