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Please take a moment and make a financial contribution to TheFunded. If we have helped you, help us with resources to further grow the both the site and our entrepreneur training program, The Founder Institute.

Charles R. Lax

Partner Rating:

Rated 1.6 / 5.0 by 13

Partner Information:

Title:     Managing General Partner

Location:  Newton Center, Canada

Blog:      

Firm Rating:

Rated 2.1 / 5.0 by 19

Firm Information:

Company:   GrandBanks Capital

Type:      Medium Private VC

URL:       Firm Homepage

PERSONAL SPECIALTY: None.

FIRM DESCRIPTION: GrandBanks Capital partners with entrepreneurs to create and build dominant, market-leading companies through our established experience set, operating expertise and insight, and extensive top-level industry relationships. Understanding the challenges that arise when building a world-class company, GrandBanks Capital guides entrepreneurs in the direction of market leadership by utilizing the team's early-stage investing experience and broad network of contacts through some of the fastest growing industry sectors. These markets include Internet infrastructure, software and software services, security and storage applications, media technologies and services, financial technologies and services, and wireless technologies and services.

13
Agree
1
Disagree

Unbelievable

Fund: GrandBanks Capital

Posted by Anonymous on 2007-09-28

PUBLIC:

I have been working with folks in the VC world for 20 years now and Charlie Lax is (by far) the most ego-centric (read insecure) guy I've ever met.

A few years ago I went in with another guy on our team to pitch a new venture. I was coming off a $200m win and my colleague a $2 billion IPO so we had some credability. It was a meeting I'll truly never forget. I surely don't expect a term sheet, but some basic consideration is warrented (i.e. life is short, be nice to folks).

Lax was off the charts rude. It was really unbelievable considering he actually liked our concept. And we bent over backwards to not be adversarial but he kept crossing the line. We kept our mouths shut and to this day recall it as the low spot of pitching VBC's (we've since raised $30m from tier one VC's). Note: one of the associates called up later to apologize.

I also have a friend who made Charlie a lot of money in late 90's who said he wouldn't go near him again. And this was a winner! He ult raised $20m from two of the better known namess in town.

Its not a good sign when a VC can't recycle his winners.

PRIVATE: Members Only (141 Characters)

12
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0
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For What is a Man Profited...

Fund: GrandBanks Capital

Posted by Anonymous on 2008-08-25

PUBLIC:

For what is a man profited, if he shall gain the whole world, and lose his own soul" I would rather flip burgers at McD rather than become a billionaire partner of Lax.

Lax must be the most arrogant man alive!

PRIVATE: Members Only (251 Characters)

12
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1
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Getting Worse

Fund: GrandBanks Capital

Posted by umaga on 2008-01-14

PUBLIC:

Agree that Lax is as bad as all the other posts on this site say. He's arrogant and deceitful, a tough combination. I feel sorry for Ryan Moore. He has some promise but is drowning in the Lax sea of dishonesty. This new British partner they have, Tim Wright, is comparable to Lax. He spent an entire meeting criticizing and making fun of the Analyst that they employ. Granted, the Analyst seemed unable to contribute, but no reason for a partner to pick on him.

PRIVATE: Members Only (87 Characters)

12
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1
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Out of Control Ego

Fund: GrandBanks Capital

Posted by Anonymous on 2007-08-24

PUBLIC:

We were referred to Charlie by someone who heard he was a hidden gem in the Boston area. I was disappointed to find he was easily one of the most arrogant people I have ever met. He spent our entire meeting lecturing us on his own accomplishments, and never actually got around to asking relevant questions about our concept.

PRIVATE: Members Only

7
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4
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Ryan Moore is Great

Fund: GrandBanks Capital

Posted by Anonymous on 2008-03-05

PUBLIC:

Ryan Moore is great. He is thoughtful, knowledgeable, and will always work hard to make you (and his investment) successful. Don't let his youth distract you from his extensive experience and many years in venture. He knows what he is doing and can be a tremendous asset to your company. No arrogance, just hustle and results. A great addition to any board.

The fund is up and coming in the Boston area and is quickly improving its reputation as it develops more of a track record. They have great ties when you need an intro or it comes time to go for another round, and Ryan is universally well liked.

In the pitch process, they play the tentative-yes-let's-wait-and-see-how-this-company-does game more than some, but they seem to be getting better about that as well.

PRIVATE: Members Only

7
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0
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We're in if They Are

Fund: GrandBanks Capital

Posted by Anonymous on 2007-08-31

PUBLIC:

Charlie played the typical VC game of "I'm interested if another VC is interested." Charlie "mis-directed" VC's he didn't want to partner with by telling them the deal was dead and he had no interest at the exact same time that he was working the deal with a VC he DID want to work with. Ryan Moore was a straight-shooter.

PRIVATE: Members Only (58 Characters)

7
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0
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Try and Keep a Toe in Every Deal

Fund: GrandBanks Capital

Posted by Anonymous on 2007-05-10

PUBLIC:

Notorious for saying "we're in if you find a lead" no matter what to sneak a peak at every deal. Saying Grandbanks is interested to another VC means nothing.

PRIVATE: Members Only (175 Characters)

6
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Founder

Fund: GrandBanks Capital

Posted by Anonymous on 2010-12-09

PRIVATE: Members Only

5
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0
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Not Very Impressed

Fund: GrandBanks Capital

Posted by Anonymous on 2008-06-17

PUBLIC:

Pitched to Tim Wright (Former Terra/Lycos CTO/CIO).

Tim knows the Internet like the back of his hand and rightfully so. He spent most of our meeting talking about how many companies he has bought or sold, all well seeming very uninterested.

Luckily I had spent time practicing pitching to a wall so it wasn't hard.

They don't seem to follow up when they say they will either, disappointing.

PRIVATE: Members Only

4
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0
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If You're From Canada, They'Ll Want to Move Your Company

Fund: GrandBanks Capital

Posted by cfoofc on 2008-02-08

PRIVATE: Members Only (461 Characters)

3
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3
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Which Charlie are You Talking About?

Fund: GrandBanks Capital

Posted by Anonymous on 2008-02-24

PUBLIC:

If Charlie was the only VC you had ever met I could understand some of these comments. But after twice pitching to Charlie I can't agree. Yes he is happy to remind us how smart he is but I would prefer a straight talker like Charlie to many of the other characters in the business. He was engaged, interested and involved both times we sat down with him. He gave us honest feedback, both good and bad. Probably the best thing I can say is if I ever need to do another road show Charlie would be high on my list of people to visit.

PRIVATE: Members Only