Portland startups, open source, and tech news, jobs, and events #pdx
I can confidently say that there will never be enough accessible capital to adequately support entrepreneurs. So we’ll always have that to complain about. But that’s also a massive opportunity. Because there is also plenty of room for new players — and new models — to emerge. And another one just did. From Sahil Lavingia, founder of Gumroad.
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It’s funny because it’s true. If you’re thinking about pursuing an investment from venture capitalists for your startup then this should probably be required watching. From Foundry Group‘s Chris Moody. (Because apparently this pandemic has inspired him to become a YouTuber 😂)
Like it or not, venture capital dynamics are a part of the startup industry — even though they tend to account for a minuscule percentage of funding for new businesses in general. So if you’re building something new in the tech world, you’re likely considering pursuing equity based financing. But with the pandemic and reportedly less than stellar local dynamics, many folks may be seeking investors outside of their immediate area. Which raises the question: are VCs doing remote deals, these days?
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Remember a few weeks back when I mentioned that TechCrunch was compiling a list of venture capitalists that regularly wrote the first checks and led rounds for folks? Well, even if you don’t, the list is now available. It’s called The TechCrunch List. And it features nearly 400 investors, currently.
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The dynamics of venture funds are very much akin to the dynamics of startups. It’s rarely smooth. It’s often a series of fits and starts. And fundraising. And pivoting. Until a fund really hits its stride. But I’m happy to report that Black Founders Matter is beginning to get some early traction and has announced its first investment as part of the funding for A Kids Book About.
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“No one wants to be the first one in the pool” is a truism regularly bandied about the venture funded startup circles. That’s because — for companies that choose that equity based financing route — landing that first check can be the most critical component of fundraising. But which venture capital firm or Angel is truly the most likely to be that “first money in” for your company? That’s what TechCrunch is seeking to answer with The TechCrunch List.
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While I spend the vast majority of my time heads down focused inwardly on the Portland startup community, I do realize that, from time to time, it makes sense to pick my head up and see what’s going on elsewhere. That’s why I was happy to see the First Round State of Startups 2019 making the, ahem, rounds.
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Apparently, it just takes a little while for an idea to gain traction. After years of founders bemoaning a lack of early stage funding, a new crop of early stage venture funds are taking shape here in Portland. First, 1859 Ventures launched a new early stage venture fund. Now Cowen Partners Venture Fund has launched.
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When folks are talking about startup activity, there are generally a few topics that jump to the fore: starting companies, funding companies, and liquidity events, the euphemism for that point in time when founders, investors, and ideally employees generate wealth from their efforts. But what if that last event — that exit — could also benefit the folks who find the most value in what that company was providing? That’s the concept with Exit to Community.
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While I’m not one to celebrate fundraising for the sake of fundraising, I’m also one to admit that a growing local company raising a single round of financing that’s north of $50 million is still a bit of a rarity. And therefore, notable, at the very least. So I thought I’d capture the coverage of SheerID’s latest round.
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