The Founder Initiative

[$4B VC] Greycroft's Partner, Mark Terbeek, Behind the Curtain - intros, top sectors, etc


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GUEST:
Mark Terbeek
https://www.linkedin.com/in/markterbeek/
TOPICS DISCUSSED
1. Founder-Market Fit Is Everything
Mark emphasized the importance of a founder’s unique insight and experience into the problem they’re solving. The most compelling cold emails show why this founder is one of one — uniquely suited for this mission.
2. Timing + Thematic Fit = Fast VC Response
Greycroft often researches themes (like AI or automation) before founders reach out. When a startup pitches within an active theme — even unknowingly — and pairs it with founder-market fit, they’re more likely to get a fast response.
3. "Intelligent RPA" Is a Hot Area
One current theme Mark is excited about is Intelligent RPA (Robotic Process Automation) — AI-powered software that replaces outsourced business processes (e.g., call centers, payment processing) with scalable, intelligent agents.
4. Warm Intros Trump Cold Emails
Greycroft rarely invests from cold outreach. Most deals come via:
Founders they’ve already backed
Thematic outbound sourcing
Personal or trusted referrals
Founders should invest in their network to access firms like Greycroft.
5. What Greycroft Looks for in Founders
Strong founding teams typically have:
Deep technical talent (especially in infrastructure and AI)
A track record of shipping product
The ability to recruit top-tier talent
A relentless, iterative approach to execution
6. Stage Fit Matters
Mark personally focuses on seed to Series A, though Greycroft invests from pre-seed to pre-IPO. If you only have an idea and no traction, it's better to wait or get a warm intro.
7. VCs Sell Themselves Too
Once Greycroft sees an exceptional founder, they flip into “selling mode” — trying to prove why they are the best long-term partner. Mark wishes he could bottle up founder references because those stories say more about the firm than any pitch.
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The Founder InitiativeBy Adam ODonnell

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