3.8
4.0 
3.5 
3.8 
4.3 First Six Months Very Positive
Fund: Norwest Venture Partners
Posted by scottdunlap on 2008-10-28
In April, I spoke with 14 VC's to raise a Series C of $12m. Josh Goldman from Norwest led the due diligence, and the experience was very good. All the showstopper questions up front, in a series of 2-3 meetings with Josh and 1-2 partners. We selected two VC's to complete due diligence, and nearly every one of our customers said "we want you to choose Norwest" based on the insight and questions they asked. We made one final presentation to the partnership, and the term sheet was complete within a week. The term sheet was fair, and although not the highest valuation we received, we let Norwest lead the round.
The involvement of Josh and the team hasn't slowed since the deal was closed, and his operating experience has been unparalleled. I wasn't expecting this, since it is not usually the case. He's helped marketing, recruiting, on strategy, connecting with partners, you name it, never intruding but always offering advice and connections. Other partners like Tim Chang and Bob Abbott are also looking out for us, recommending partners, candidates, and making introductions regularly.
Usually I'm not one to toot the horn of an investor, but my experience has been very positive. I've raised over $300m in my lifetime from dozens of VC's and investors, and Norwest and Josh are easily in the top 1-2. I think in this day and age when limited partners are pulling out left and right, it also helps to have a VC with a single limited.
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