Ron Convey, angel investor and partner at Baseline Ventures, said VC industry must change because costs to start a company are now so much smaller than 10 years ago. Ron is very respected character in Silicon Valley, his firm’s investments include Google, Ask Jeeves, and Paypal, and he also serves on the advisory boards of Facebook, Twitter, and Digg.
In this morning I had a morning coffee with my good friend who is a venture capitalist in Sand Hill Road. He asked, what is this Grow VC. I explained. He answered that he feels this is really the right time for this kind of solution. He continued that if we can create a model where people can with $200 to $2,000 invest in early phase firms, it will change the whole VC business. And it will also change start-up business. And finally he asked, what he could do for Grow VC, because this is something he wants to be involved.
Very positive messages. It is less than two months to the beta launch. Then we really start to change the world of early phase funding…
