I'm joined by Patrick Meenan, General Partner at Arthur Ventures, a venture capital firm that invests in B2B software companies located outside of San Francisco. Patrick has been with Arthur Ventures since 2012. He's also a board member at Nomics, the company that produces this podcast.
This interview is relevant to blockchain startups. Indeed, most blockchain startups are not in the Valley and even if they were, the standard playbooks wouldn’t apply to many of them because of the unique dynamics of this space. In this episode, we discuss methods and approaches for funding, growing, and operating a company outside Silicon Valley or even the United States.
As a side note, Patrick and I go back quite a bit. He was involved in the first round of funding for my previous company, LeadPages, which went on to acquire an email service provider called Drip. We’ve sat on a board together for over six years.
My conversation with Patrick is split into 4 chapters:
- Chapter 1: Lessons learned investing outside the Valley
- Chapter 2: Business operations
- Chapter 3: Fundraising outside the Valley
- Chapter 4: Blockchain-based investment opportunities
In this episode, we discuss:
Patrick's background prior to joining Arthur VenturesThe origin of Arthur VenturesThe first thing Patrick learned about early-stage investingThe danger of using a Bay Area playbook outside the ValleyHow good companies share common characteristicsHow Patrick finds opportunities outside of San FranciscoDifferent reasons why companies take capitalHow Patrick evaluates a company's growth prospectsWhy Arthur Ventures prefers to be the lead - or only - investorMistakes that can derail a company's growthThe right and wrong times to take liquidityHow entrepreneurs can find VCs outside the ValleyWhat to pay attention to in a term sheetHow to run an effective board meetingWhy it's an encouraging time to be in blockchainSponsors
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