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Founder-VC relationship: This isn’t tango but a high-octane salsa
- Theodore Rozencwajg, Co-founder and CCO of D2X, Matthijs Huiskamp, Founder and CEO of Altura, and Mitch Voskuilen, Founder and CEO of Billy Grace share how VCs helped them in their journey and challenges faced.
- The motivation to raise funding from a VC was primarily to accelerate startup growth. The startup needs a partner who understands the vision and can add strategic value.
- It is important to choose VCs who can support recruitment and beyond the initial funding stage. VCs that help with sales and marketing have an advantage.
- A strong personal connection is a key selection criterion for startups when choosing a VC.
- The way of working with VCs depends on the stage of the startup. The later the stage, the less interaction startups have with their VCs.
- Friction happens in moments of disagreement, for example, during a fundraise. A transparent and open line of communication between the founder and VC partner is key to being a success.
- According to Investment Director Wouter Goossens, the founder-VC relationship starts with trust and transparency.
- VCs not only bring money but also expertise and network and help founders scale their businesses or steer them towards the right path.
- Monthly check-ins or specific strategy sessions to overcome challenges or explore opportunities are held to maintain a collaborative, supportive relationship.
- Avoid surrounding yourself with 'cheerleaders' and look for VCs that dare to challenge and help you to see things you may not see.
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