On Feb 14, 2008, at 11:08 AM, Spehro Pefhany wrote:

>> I'm not sure what you call the investors that get in at the
>> earlier stages, but I don't think they're called "Venture  
>> Capitalists."
>>
> "Angels"

I thought "Angels" tended to be people who lent expertise in missing  
areas (management, business, purchasing, hiring, etc), rather than cash.

I was at cisco when they were searching for the venture funding.   
Before funding, we couldn't buy parts fast enough to fill orders, and  
it was still quite a battle to get the $2millions from the VCs.  In  
support of their $2M, the VCs immediately fired the founding CEO and  
CFO, since they didn't project the right image to "take the company  
public", which was the VC's next big concern.

BillW


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