I don’t exactly remember where I happened upon Bryce Roberts’ post. But it definitely struck a chord. Any number of folks are discussing how venture capital is broken. But it seemed that few solutions were being offered. Indie.vc is a proposed solution that—at first blush—appears to resonate with some of the same thinking I’ve heard from founders in Portland.
As luck would have it, Bryce will be in Portland, Tuesday, February 10, 2015, to talk about it.
So what’s the idea behind Indie.vc?
Traditionally, technology investors only get their money out when you sell out (another term for this is a “Liquidity Event”). An investment from IdVC doesn’t preclude you from selling, but in the event you stay independent, our investment will get paid out as distributions from cashflow over time. This is fairly common in most other industries, but we have not seen it applied to technology companies until now.
Our investment is also structured as a line of equity; meaning, you only draw down the amount of capital you need, when you need it.
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Like cement, the cultural foundation for new projects and companies sets early. Those who focus on raising outside capital and achieving fundable milestones have a very difficult time getting off that VC treadmill.Those who focus on creating value for customers and generating positive cash flow from the very beginning are able to make their own decisions independent of competing outside interests.
Can companies today who plan to stay independent and bootstrap their business be competitive in a world awash with Silicon Valley startups and Sand Hill Road cash? Can we build a new kind of startup community that values independence and a DIY work ethic?
This is the experiment we’d like to run with INDIE dot VC.
I know, right? Sounds downright Portlandy. And the repurposed skate trucks logo is a nice touch, as well. More than a subtle hint that these are folks who are thinking about things differently.
If this sounds even remotely interesting, I highly suggest you take the time to attend this informational gathering. The event will be held February 10 at 7:30PM, hosted by CENTRL Office.
For more information or to RSVP, visit Portland indie.vc Information + Q&A Session.
