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Kodiak Venture Partners

No New Investments Warning:
Members have submitted information that the following organization(s) may not be making investments into new portfolio companies. This warning can be contested by submitting proof of a completed investment in a new portfolio company within the last four weeks here.

Firm Rating:

Rated 2.7 / 5.0 by 12
Track
Record
2.1
Operating
Competence
2.8
Pitching
Efficiency
2.8
Favorable
Deal Terms
3.1
Execution
Assistance
2.7

Firm Homepage:

FIRM OVERVIEW: Very Small Private VC founded in 1999 based out of Waltham, United States (US East)

TEAM MEMBERS: Chip Meakem, Chris Greendale, Dave Furneaux, Elliot Katzman, John Abraham, Lou Volpe, Mike Schiavo, Murray Berkowitz, Penny Breen, Steve Maxwell,

0
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1
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Quick, Efficient

Fund: Kodiak Venture Partners

Posted by Anonymous on 2009-02-23

PUBLIC:

We pitched Andrey Zarur, the new partner in the life science space. He's very knowledgeable in the sector and sharp. He was able to do his dilligence quickly because he knows the space, and we moved through the whole process to partner approval, signed term sheet and close rapidly.

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3
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1
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A Zombie?

Fund: Kodiak Venture Partners

Posted by Anonymous on 2008-11-18

PUBLIC:

Dam Primack hit them pretty hard in today's PE Week Wire:

*** Kodiak Venture Partners isn’t quite yet on my list of “walking dead” VC firms, but it’s getting close. Reminds me of the teenage girl who runs upstairs during a horror movie, and locks her door so the beastie can’t get her. Odds are pretty good that the door won’t hold, but every now and then her boyfriend slays the beastie from behind, hugs are had and the credits roll.

Chris Greendale quietly left Kodiak last week, making him the third partner to depart in 2008, and fifth to leave since Kodiak raised its third fund in 2004. The others this year were John Abraham and Mike Schiavo, following Elliot Katzman (late 2006) and Illan Carmi (2005). That’s a whole bunch of turnover for a small partnership, and further dims the hopes for a fourth fund.

Kodiak originally began pre-marketing Fund IV in late 2006, with plans to hold a dry close in Q1 2007. Katzman’s surprise defection to Commonwealth Capital Partners in December of that year derailed the process, but sources said it would be restarted by Q2 of 2008. But that didn’t happen (at least not successfully), and Kodiak has now called down over 70% of its Fund III capital. Assuming it wants to hold at least 20% for follow-on investing, that leaves relatively little room for new deals.

I spoke yesterday with two of Kodiak’s four remaining partners, Dave Furneaux and Andrey Zarur. They acknowledged that Greendale was gone (he’s still on Kodiak’s website), but declined to provide any context. Instead, they said that the firm was in as good of shape as could be expected given the lack of liquidity options, and that it would raise a new fund either late next year or in 2010.

Zarur also pushed back on the notion that Kodiak’s personnel upheaval is particularly important, noting that the firm was still doing some interesting new deals of the seed-stage variety (e.g., Lumicell Diagnostics). He's right that returns are what matter most, but LPs and entrepreneurs also place a high value on consistency. Or at least more consistency than Kodiak has provided. It’s asking a lot of folks to enter into a long-term commitment with an organization whose own partners have not done the same...

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Upfront and Honest

Fund: Kodiak Venture Partners

Posted by Anonymous on 2008-02-29

PUBLIC:

They heard our pitch with attention and asked the right questions. Dave was quick to understand it and provided good feedback. They were very honest and quickly made their decision (they decided to pass because we were not core to their focus areas).

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Upfront It Was Refreshing

Fund: Kodiak Venture Partners

Posted by Michael77 on 2007-11-10

PRIVATE: Members Only (163 Characters)

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1
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Not First Choice

Fund: Kodiak Venture Partners

Posted by thinkdifferent on 2007-10-09

PUBLIC:

The individuals at Kodiak are good in their own right, but as a team there's something missing.

It is one of the more dysfunctional groups I know, and with horrible follow-up and a somewhat condescending attitude.

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Seven New Deals Last Year

Fund: Kodiak Venture Partners

Posted by jetskier on 2007-08-16

PUBLIC:

Kodiak did seven new deals last year. They are primarily funding in the IT space in the upstate New York area.

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5
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3
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Decent Fund

Fund: Kodiak Venture Partners

Posted by Anonymous on 2007-08-13

PUBLIC:

Pitched Chris Greendale at Kodiak and found him to be a pretty smart and likable guy. He passed on the deal and didn't really provide any good feedback, which was somewhat frustrating. Firm is made up of a bunch of ex c level executives that know how to run businesses.

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