Thursday, June 13, 2013

5 Funding tips from Accel Partners VC Theresia Gouw

12, 2013, 9:02am PDT

5 funding tips from Accel Partners VC Theresia Gouw



Print Editor- Silicon Valley Business Journal
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For entrepreneurs wondering about the mysteries behind a term sheet, Theresia Gouw, a partner at Accel Partners, has answers.
Gouw and Iiya Strebulaev, professor of finance at Stanford University's Graduate School of Business, offered a crash course in angel and venture capital funding at Tuesday'’s Silicon Valley Open Doors event in Mountain View.
The pair explained the science behind the practice, and what it takes to succeed in the crowded startup community.
Gouw specializes in social commerce companies. She invested in Trulia, which went public last year, and other popular websites like Glam, LearnVest and ModCloth. She told entrepreneurs to think of the term sheet as a prenuptial agreement. The relationship between the entrepreneur and VC is like a marriage that will last about eight to 10 years, she said. To make it work, Gouw pointed out five strategies.
#1: Focus
Gouw described meeting entrepreneurs who were trying to do too many things at once and becoming mentally scattered in the process. Focusing on doing a set number of things right is key to securing venture capital.
#2: Know the value of the venture capitalist
VCs can help the entrepreneur in multiple ways. The VC has the Rolodex to get entrepreneurs follow-on rounds of funding. There are different investors for various rounds, Gouw said. Those who would fund Series A and B may not fund rounds C, D and beyond. The VC knows who those investors are and can make the calls necessary to close successive rounds. VCs also help entrepreneurs find the right talent. If you need a CTO or a CIO, they have the connections to make the search less taxing.
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