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Onur Kabadayi
Business Week / Mint.com: Nurtured by Super-Angel VCs (http://www.businessweek.com/technol...): Intuit is acquiring a startup (for $170M) conceived by a "25-year-old kid" and funded by First Round Capital, a new breed of high-risk, early-stage venture capitalist...
September 15, 2009
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Founder Patzer was turned down by a dozen angel investors and many top established venture capital firms, including Sequoia Capital, Greylock Partners, and Clearstone Ventures. "Every single VC told me I would fail because no one would trust a startup with their financial info," he says.
- Onur Kabadayi
"Within 10 days after 1st contact, First Round Capital offered to invest in the startup. "They moved incredibly fast," Patzer says. "First Round Capital put down a term sheet without caring what anyone else would do." Then, the firm brought in other super-angel investors, such as Baseline Investments, Felicis Ventures, and Soft Tech VC.
- Onur Kabadayi