(Editor’s note: Journalist Laura Baverman gives a deep dive on VC Series A funding in this story as part the news partnership between WRALTechWire and ExitEvent.)
DURHAM, N.C. – The typical mantra of startup community promoters is that capital is a region’s greatest need. Companies just can’t grow without it. And in the Triangle, the lack of Series A funding is the specific problem.
I can’t tell you how many people have lamented to me in recent months about the lack of growth-stage funding, and “since Intersouth stopped doing deals.”
The common theme here is that startups are perplexed – they have needs that aren’t being met.
But what about the wealthy individuals with money to spend? Part of the reason venture capital firms exist is because of them.
Yesterday’s annual meeting of the Raleigh investment firm Lookout Capital hit home for me the less-obvious reason why we need more venture capital firms here.
The full story can be read online at ExitEvent.