Kauffman Fellows and Techstars are once again running the Venture Deals online course.
This time it runs from May 6th to June 26th. We’ve now had over 10,000 people take the online course and have been delighted to meet or email with a bunch of them over the past few years.
If you want to learn how to be smarter than your lawyer and your venture capitalist, sign up for Venture Deals now. Yup – it’s free!
Tonight, the New Venture Challenge at CU Boulder is having its 10th anniversary. It’s happening at the Boulder Theater from 5:30 pm – 7:30 pm and is open to the public. Register here to attend if you are interested.
My partner Jason is leading the judging panel, which includes:
Dan and Cindy Caruso and Amy and I contributed the prizes, which total $100,000.
A decade ago the creation of the NVC was inspired by the MIT $100K Entrepreneurship Competition. I was involved in the early years (1992 – 1996) as a judge and funded a number of companies that went through the MIT $100K (which was called the MIT $10K at the time.) The entire experience was foundational for me, both as an entrepreneur and an early angel investor (I started investing in 1994 after I sold my first company at the end of 1993.)
Over a decade ago, Brad Bernthal and Phil Weiser were putting real energy into Boulder Startup Community. I discuss their efforts, and impact, in my book Startup Communities (which was published in 2012). One of the things I suggested was doing something like the MIT $100K. I remember a longish discussion with Brad Bernthal and my partner Jason about the history of it and how it unfolded over the first decade.
Bernthal and Jason grabbed this and ran with it. A decade later, that discussion now seems like ancient history. But, for anyone who knows my rant about having a long-term view around startup communities (at least 20 years), we are now 10 years into the NVC journey. And, it has really hit its stride.
I’m excited about tonight’s event and am really looking forward to seeing the companies compete! I hope to see you there if you are in Boulder.
In case you don’t know about Jason, prior to co-founding Foundry Group, Jason was a co-founder of SRS Acquiom and a Managing Director and General Counsel for Mobius Venture Capital. Prior to this, Jason was an attorney with Cooley. Early in his career, Jason was a software engineer at Accenture.
Going further back, Jason holds a B.A. in Economics and a J.D. from the University of Michigan. He is an adjunct professor at the University of Colorado Law School. He is also an active musician with his band Legitimate Front (which has a gig in Boulder April 13th should you be around). Most importantly, he is my co-author on our book Venture Deals and he puts up with me on a daily basis.
Jason is returning to Detroit to sprinkle some of the wisdom he has learned along the way with the Detroitpreur startup community at Bamboo Detroit on April 5th from 6-8 pm.
Startup Grind Detroit is one of over 350+ chapters around the world, holding Fireside Chats with notable entrepreneurs and bringing startup communities together. The Detroit chapter has recently been reignited by Ben Seidman and Dwain Watkins, the co-organizers, who breathed new life into the program. Recent speakers include Dug Song of Duo Security, David Tarver of Wayne State University, Stacy Brown-Philpot of TaskRabbit and more!
Thanks to Jason’s generous sponsorship of this event, attendance is free to all. But space is limited so register your spot today. If you live in Detroit or know someone who lives in the #2 place to visit in the world (according to Lonely Planet and Jason), please sign up or share this free registration link.
Raising money is hard.
Entrepreneurs need to understand what’s involved – from what to consider when picking the right venture partner and how to think about the economic and control rights at stake, to what life will be like after the deal closes. This assumes that the company is ready to raise venture money in the first place – an important consideration that not enough entrepreneurs really stop to consider.
At Foundry Group, we believe in a level playing field when it comes to knowledge. We want entrepreneurs to understand all the issues and to make the most informed decisions they can. That not only benefits them, but it benefits us as their partners and investors. That was one of the motivations for Jason and I to write Venture Deals. It’s also why Jason co-teaches the venture capital course at CU Boulder.
We believe that access to information is a good thing.
So when the founders of Hotshot, a startup that provides digital learning for lawyers, asked if they could come to Boulder and interview Jason and me for a video on raising venture capital, we happily obliged.
The video they created is called “Advice on Raising Venture Capital.” Anyone can access it for free, and we encourage you to check it out. While Hotshot’s content is aimed at lawyers and law students, this course is for entrepreneurs. In it, Jason and I discuss the different things that founders should consider when raising venture money for the first time.
We don’t have a stake in Hotshot – we just like what they’re up to and wanted to share the content.
I’ve become a huge fan of Harry Stebbings, the intrepid entrepreneur turned VC whose age (20) matches the title of his podcast (The Twenty Minute VC.) Today, at SaaStr at 1:40pm in the Hypercritical section, Harry is interviewing me about – well – whatever he wants.
Harry has done hundreds of 20 minute VC interviews over the past few years. It’s a staple of mine on my podcast listening rotation so I’ve heard a bunch of them. It’s fun to watch Harry evolve as an interviewer as his knowledge of the industry has increased dramatically and his point of view about various VC-related things has become crisp and clear. And his hustle is relentless and has led to him also doing the SaaStr podcast and joining Atomico.
All five of the Foundry Group partners have been interviewed at this point. I think our interviews are a great way to get to know us quickly since we each tell our story, our strategy, and our approach in our own words and from different perspectives. Over the past few weeks I’ve probably talked to over 100 VCs between my trip to Australia, LA, and SF. When I find myself telling our story in response to being asked, I often wish I had a short cut to point people to.
This post is now the shortcut. I’ll use Harry’s original titles so you can see how his SEO prowess has evolved.
Yeah – I don’t love the capital letters either, but there you have it.
In case you are wondering about the tone of the 100 VCs I’ve talked to, I’d rate it as very high on the anxiety meter. Some of the tone is from the macro dynamics post election, but some seems deeper and more unsettled. I don’t know what it is, but I switched my Headspace meditation pack from Motivation (which I don’t need any help with) to Anxiety, just to be proactive.
Thanksgiving is a pensive time for me. The world slows down a little as it gets ready for the mad dash to the end of the year. Four day weekends are rare in the United States and even though the retail world is extremely busy on Friday, my Thanksgiving has a very different tempo as the email slows to a crawl, the calendar becomes empty, and Amy and I generally have a lot of hanging out time.
I’ve always thought Givingthanks should be a neologism but it never seems to stick, so I’ll roll with Thanksgiving. For the next few days as we celebrate Thanksgiving, I’m going to publicly thank a few people in my world who mean a lot to me and have given an enormous amount of themselves to others. I’m also going to give you a way to say thanks by supporting something meaningful in their world.
I’m going to start with my partner Jason Mendelson. We’ve worked together since the late 1990s, which is now pushing up against two decades. He’s become one of my closest friends and confidants. I was honored, with my other partners Seth and Ryan, to be the best men in his wedding. We have our moments, but the long arc of our relationship is one I treasure.
I’ve watched Jason have a remarkable positive influence on many. But I know that one of the activities he’s proudest of is his involvement with CU Boulder, especially around entrepreneurship. Among many other things, he has taught a class on Venture Capital at CU Law with Brad Bernthal. Last month, a group of their students put together the Jason Mendelson Entrepreneurial Award Fund.
Think about that for second – CU students and alumni of his course has put together a scholarship / award fund. That’s a testament to how much the class – and Jason’s involvement in it – impacted them. The initial fund has $50,000 in it and provides cash awards, scholarships, or stipends to students enrolled at CU Boulder who demonstrate excellence in the field of entrepreneurship.
Ok – so here’s how you can give thanks – to me or to Jason. You can contribute any amount to the Jason Mendelson Entrepreneurial Award Fund online. It’s a charitable gift and it will be helping support a student at CU around entrepreneurship.
Jason – on this Thanksgiving 2016, thank you for everything you do to make the world a better place.
My partner Jason and our dear friend Professor Brad Bernthal are attempting to teach everything there is to know about the venture ecosystem in 90 minutes on January 28th. The link to the event is here.
Now realistically, you won’t learn everything, but they have been teaching a class on the subject for the past five years and it is not only excellent, but was one of the reason Jason and I wrote our book Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist.
This should be a great event.
I’m crazy proud of my partners Jason Mendelson and Ryan McIntyre for their band Legitimate Front. In addition to being VCs, we each have a creative outlet that is super important to us. Mine is writing books; their’s is creating awesome music.
In August, their released the first album from their new band Legitimate Front. The idea of staying up until midnight on a Saturday night at The Fox Theater in Boulder is an odd thing for me, but I showed up and rocked out with them. And was totally, and completely, blown away.
Two of our old partners from Mobius Venture Capital – Greg Galanas and Carl Rosendahl – showed up to support them. And our IT Guy – Ross Carlson – made an impressive guest appearance on the sax.
They’ll have more gigs coming up in the future, including a magic top secret one in San Francisco in a few months. Guys – y’all rock.
Along with my partner Jason Mendelson and our friends Brad Bernthal (University of Colorado Law School) and Mike Platt (partner at Cooley LLP) we have launched a series of courses in conjunction with our portfolio company Sympoz on starting a company. This is a bidirectional experiment for us – we are helping Sympoz launch their new set of programs for startups and entrepreneurs while continuing to experiment with new forms of media around education on a topic we know well.
My class, How To Light a Spark & Set Your Startup on Fire, is FREE for a limited time. It’s aimed at someone either thinking about starting a business, or just getting going. It’s a casual format – these should be easy, inspiring lessons – each of the three segments is about 30 minutes long Following is the outline of the content.
Jason, BradB, and Mike’s class is a subset of the class that Jason and BradB teach at the CU Boulder Law School which has consistently been one of the most popular law and business school classes around startups, raising money, and venture capital. In the Sympoz course, The Nuts and Bolts of Starting a Company, they build on our book Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist to help you turn your idea into a company, who and how to partner with, how to raise money, and what to do with it when you get it. There’s plenty of practical advice for interacting with VCs during the financing process along with lots of tips about what can kill your startup before you get it off the ground. The four hour course costs $29.99.
Sympoz classes are perfect for busy people; you can watch the professionally produced, HD videos anytime, anywhere on the planet, from any Internet-connected device, as often as you want. The Sympoz learning platform seamlessly blends discussions into the class experience, enabling you to ask questions of, and participate in conversations with your class community, including your instructors.
Join us in class – and give us feedback on what you think about it.