Accel Invests $30M in LightSpeed, and the Top VC Was the One Doing the Wooing | PandoDaily
Ottway Ducard stashed this in VC
Stashed in: Venture Capital!
But oddly enough Accel Partners isn’t acting like a firm on top. It is acting like a paranoid group of scrappy kids desperate for the hit that will save the firm. If you are a certain kind of company, you don’t come to Accel. If it wants you, Accel comes to you. And a team of partners pitch you hard. They bond with you. They drink Fernet with you late into the night. They print up t-shirts for you. They woo you like Richard Gere in “Pretty Woman,” minus the bit where the creepy business partner tries to pay you for sex. The hotel, dinners, jewels, shopping, making you laugh and feel special kind of Richard Gere in “Pretty Woman”.
But it’s a very specific company that gets the RG treatment. And it’s not the hot “Ooooooooooh! Pinterest!” next, big social networks getting it. It’s not even companies in the Valley at all. It’s wonky, little-known, boostrapped enterprise deals that just so happen to be putting up monster numbers. These companies are almost always outside of Silicon Valley and frankly don’t need Accel’s money. But, oh does Accel want to give it to them
This is an over-the-top description of Accel's behavior.
Personally, I admire Accel's hustle.
Oh, writers can't help themselves.
So do I. It's certainly not the every-day story one hears here.