Fund: Tugboat Ventures
Posted by Anonymous on 2011-03-31
We pitched Dafina. When the meeting started she explained that tugboat was not a seed VC fund but an old style VC fund. Which surprised us considering the size of their fund and the amount they typically invest (500k). As we went through our pitch one of her foci was on technical details that she thought every investor would ask us. We have had 20 investor meetings and not one investor were concerned about these tech details. Total rat hole. We got to the go to market and she tells us that she thinks seed funded start ups can't get partner deals. Then to top it all off, at the end of our meeting she tell us that nobody cares about the market we are in. Ok, that is your opinion and i am fine with that. But why did you waste our time taking the meeting, did you read our exec summary?
Beware of pitching partners that have never been an entrepreneur. She had a lot of strong opinions that in our opinion were not backed up with justification. I think Dafina thought she was helping us, but in the end was just wasting her and our time. Unfortunately most of her feedback was not valuable.PRIVATE: Members Only