A year ago, local investors and venture capitalists were looking to raise $500,000 to launch a new tech company or venture capital round.
They weren’t expecting to be able to match that, especially given that the US was still experiencing the effects of the Great Recession.
“It was a wild ride to get to where we are today,” said John Nee, an investor and CEO of the Silicon Valley-based startup startup VC-wise.
“We’re really excited to see where the tech industry is headed.
It’s going to be really exciting.”
To learn more about local investing, I sat down with Nee and his business partner, John Parnell, at their Silicon Valley office.
It was a mix of tech news, business-focused topics, and a lot of coffee.
We talked about their vision for VC-minded entrepreneurs and their investment strategies.
Read on for the details.
For years, local VCs have been struggling to get the funding they need to bring startups to market.
The US has one of the most expensive startup ecosystems in the world, but startups are often unable to access financing due to a lack of investment options, according to Nee.
Local VCs are typically looking for investments from private investors that have at least $50 million in venture capital funding behind them, which they can use to buy up shares in a company or raise a Series A round.
These investments are often in the $5 million to $10 million range, and the funds are typically backed by the city’s local government.
In January, New York City announced plans to create a $1.6 billion fund to support the city and surrounding area’s startups, but the funding announcement also highlighted how important local investors are to local companies.
“We have a huge number of local companies that are in the process of getting their products to market,” Mayor Bill de Blasio said at the time.
“Local investors are vital to their success.”
According to Nees and Parnells, there’s an emerging trend among local investors that sees the value of local investments rise over time.
“Our market is a big one and we’re going to need to have a lot more local investors to support it,” Nee said.
“It’s really important for people to be aware of the local investing opportunities that are out there.”
To help investors understand the business model of local entrepreneurs, Nee created a new video series called “Tech Angels” that features local business owners, investors, and venture capital professionals.
The videos highlight local startups that are looking to grow their businesses and get into the mainstream, and highlight the best local investors in the country.
The videos feature founders, investors and executives from local businesses and startups.
Each episode focuses on a different startup or venture capitalist looking to get their hands on the money needed to build their business, and features interviews with some of the best investors in their area.
“When we’re trying to find the next billion-dollar unicorn, it’s not necessarily a local entrepreneur that comes into the conversation, it is the next one that comes to mind,” Nees said.
“That’s what we try to highlight, the best, local business people that are coming in to try and build their companies.
We know there are a lot out there that we don’t necessarily know what to look for.”
The series features investors, VCs, and executives that want to get into startups in their local area.
Each one is filmed by a local filmmaker, and you’ll get the chance to ask the investors and VCs any questions you may have.
The show also includes a feature called “Solo Invest” that is an in-depth look at the business process of building a new startup.
The show takes a look at how the startup is structured, the financing and valuation process, and more.
The first episode features a small-business owner who has already built a successful business in a new city.
“Solo Investment is a series where we explore the different steps of getting started and what it takes to be successful as a startup,” said Nees.
“This episode is really geared towards the people who are trying to build a business but don’t have the capital or know the right people to help them with that.”
The program features interviews and videos with some the best venture capitalists in the area, and it features some of Nee’s favorite local entrepreneurs.
The series will air each week on the National Geographic Channel, starting with the inaugural episode in March.