Location, Location, Location. Not.

 Investing locally is a mantra of many venture firms.  The desire to conveniently monitor, interact, and network with their portfolio companies has lead to some long return trips for out-of-town entrepreneurs.  Now a recent working paper suggests that the Think Global, Invest Local view is bunk.  Among the findings: investments in regions where a venture firm has no presence outperform…

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The “Promote”

Flybridge's Jeff Bussgang has a nice blog piece where he coins a new word in the venture lexicon: the "promote" (not the Prestige).  Entrepreneurs too often fixate on their pre-money valuation (the "pre"), instead of focusing on what their equity is worth after the venture check has hit the bank account. For Jeff, the "promote" is where an entrepreneur should…

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