start-ups are young, long
hours are the norm and
budgets are tight.
VCs will scrutinize a
company’s management
team, in part because
investors are entitled to
a seat or two on the board.
They’ll have a say in company matters and will be
privy to heated discussions and squabbles.
“It’s an intense rela-
tionship for a few years,”
says Kline, who attends as
many as five board meet-
ings a month. “The busi-
ness team has to be people
you can get along with,
because invariably there
will be problems. Well, I’ll
say ‘challenges.’ ”
The company’s prod-
uct gets a careful review,
too. VCs analyze cus-
tomer feedback and beta
testing results. They need
to feel confident that the
business, drug or product
can tap a large, lucrative
market or is so revolu-
tionary that it will make
a significant impact in
its sector.
The most successful
Like entrepreneurs, VCs have a
deep belief in hard work, luck and tim-
ing. Their glass is always half-full. And
with some cash and strategic direction,
it undoubtedly will overflow.
“Everyone in the business is an optimist,” Fredrick says. “You envision the
art of the possible.”
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