Meeting David Cowan

I met with David Cowan of Bessemer Venture Partners recently. David had this to say on his blog: “The highlight of my week was meeting Rajesh Jain, founder of India World (the high-value acquisition that served as poster child of India’s internet bubble). Rajesh is the Bill Gross of India, prolifically founding, funding or running startup after startup (get a sense for his metablosim and creativity on his blog). Among his more ambitious projects are a thin client service that promies to deliver India’s households with computer, bandwidth and software for $10 per month.”

Thanks for the gracious praise, David. Was a pleasure meeting with you, too!

Founders and Managers

Union Square Ventures writes about what they look for in investee companies:

First and foremost, we look for people who we will enjoy working with. Weve been investing in early stage technology businesses for over 20 years and weve backed people we like and weve backed people we ended up having great difficulty with. Weve made the decision that no matter how attractive an investment opportunity may be, we will not get involved if we do not think there is a high likelihood of a very positive working experience. That is partially a recognition that the entrepreneur/VC relationship is critical to the success of the company. But it also a recognition that if we enjoy working with a person or a group of people, it is more likely that others will as well.

We also seek to back entrepreneurs and managers that weve worked with successfully before. We realize that this sets up a club relationship where its hard to break in. And we also realize that some of the best entrepreneurs will be first time entrepreneurs. So we have a process to make sure we back first time entrepreneurs, but the hurdles are simply higher.