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The seeds planted by those who came in the 90′s have begun to blossom 15 years later literally into seedcapital, blossoming new entrepreneurs and an ecosystem of experienced operators that powered LA 1.0 Many of the early winners sold for north of a half a billion dollars. Success begets success. and are guiding LA 2.0.
George Deeb is the Managing Partner at Chicago-based Red Rocket Ventures , a startup consulting and financial advisory firm based in Chicago. If people are funding the business, they should get a premium because at the end of the day, cash funding founders are acting no different than a seed stage investor.
Raising SeedCapital – crowdspring.co/MX18CE. don’t return investors’ capital” – crowdspring.co/1dhuwIO. Why Chicago needs to stop playing by Silicon Valley’s rules | by Adrian Holovaty – crowdspring.co/1f87594. What’s up with the Series A? – crowdspring.co/1fkwYB1. 1fkx7V6.
Provide early seedcapital, and be the ones to make those introductions. I remember thinking then how much better it was than Chicago, where I'd spent the previous 8 years. Accept that many successful companies are going to want to be backed by big-name firms in other cities. And do your customer development.
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