Updated Feb. 13, 2013 at 12:23 p.m.

Premium Lock Reality of VC in Triangle: No home runs, no big exits, little money

Published: 2013-02-12 14:44:00
Updated: 2013-02-13 12:23:56

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Opinion: We have great, home-run-swinging entrepreneurs here - and it's not just here but in a lot of places like Raleigh/Durham. And if they can't raise money here, they move, and the talent drain is what's been keeping Raleigh/Durham from reaching its entrepreneurial potential over the last 20 years. We graduate brilliant minds, and they jet....

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"I’m just saying that Raleigh/Durham still has this sort of vanilla, safe, swing down the third-base-line reputation, despite the progress we’ve made in the last three years."

Here's a bit part of the problem... all the local investors are ridiculously risk averse and everybody is trying to move further and further "upstream" (eg, later in the process, where there's less risk). Early stage investing is, in theory, a "high risk, high reward" game. But here, even the *angel* investors are saying things like "don't talk to us until you have demonstrated traction, like, multiple paying customers."

Wait, what? Really? Angel investors are waiting for a company to have multiple paying customers before they'll get onboard? No wonder this area isn't the entrepreneurial hub it could be.
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