Fund: Bay City Capital
Posted by Anonymous on 2009-08-12
BCC was an investor in my last company and it was a very profitable investment for them. However, as a CEO, I found them very difficult.
Most good venture firms have a collaborative approach to investing. They realize that the best outcome for everyone is created by expanding the pie. BCC had more of a "distributed bargaining" approach. Every interaction with them was characterized by them trying to get as much as they could for themselves, seemingly without realizing that a more collaborative approach could result in everyone making more money.
As a result, there was a lot of distrust between BCC and Management and between BCC and the other investors.
I would not seek investment from them again.