On September 1st, LaunchCapital celebrated the 15th month since we made our first investment in a seed stage start up. Since our first investment in a small web development company based in San Francisco – NorthxSouth, we have been busy. We’ve invested in 27 companies across 10 unique industries, we are launching LaunchCapital SB (official launch coming soon), we’ve built our outsourced team to 30+ people, and we’ve struck relationships up with 15 universities around the country. We took a unique approach to starting LaunchCapital, but one in which we tell many of our portfolio companies to do: stay nimble, adjust to changing market conditions and listen to your customers’ needs. And, by doing this, we have seen both subtle and drastic changes in everything from our strategy t0 the types of companies we invest in.
With the launch of our new website, we want to show our customers (those entrepreneurs who are out there blazing new paths with innovative approaches to old problems) that we have been listening to them throughout the months and are continually trying to provide them with the best service that we can.
Our new website is comprised of three different elements: 1) Actual site itself 2) Blog 3) LC Community all of which we hope will help entrepreneurs gain better access to information and to us.
The first two features are relatively obvious: to provide clear and concise information for entrepreneurs looking to understand more about LaunchCapital and seed stage venture. The directors of LaunchCapital (Bill McCullen, Heather Onstott, Konstantine Drakonakis and myself) will each blog about topics that are relevant to the seed stage community. And, in an effort to provide entrepreneurs with broad information and content, we will also invite portfolio company executives and service providers who may have great ideas on fundraising and the seed stage environment to contribute to post to our blog.
The third feature, LC Community, was contrived through discussions that we had with entrepreneurs in trying to determine what their biggest pain points were. Throughout these discussions a few key themes began to emerge. Most importantly, we began to realize that most entrepreneurs need three things that they find difficult to get: 1) connections 2) advice/mentorship 3) companionship/feeling of community.
By leveraging the forum technology that our portfolio company Lefora has developed, LC Community strives to create easy place for entrepreneurs, service providers and VCs to interact. In essence, we want to create a place that feels professional enough for business relationships to develop, but friendly enough for collaboration to take place. Whether it be discovering a new product or tool that may help and existing business, to networking with a lawyer who can help with your next fund raise, we hope to create a community and environment where entrepreneurs and service providers feel comfortable enough to ask those nagging questions which we all sometimes have (the one’s where you feel embarrassed to ask, but really need to know an answer to).
It is important to note that LC Community will have an open format, so discussions will be user generated and only lightly monitored by LaunchCapital. And, of course, we will chime in when we feel that we have the expertise to accurately answer questions.
Well, that’s all for now. Enjoy the new site and look out for upcoming blog posts.