Jennifer Carolan discusses what venture investors look for in founders. She warns against accelerators that own too much equity, leaving founders with little stake in their own company, and explains why founder ownership and genuine commitment matter most.
This is one of those I mentioned. Like, you learn this job by doing. You learn it by making mistakes, and you learn it by seeing lots of companies and by actually doing the work. And this one company that we invested in, this is early on, the cap table I sort of didn't look at closely enough.
Cap table is.
The capitalization table that basically says who owns the company, how the shares are divided. And what I didn't realize is that the founder, his share of the company was actually like super small. And he'd come out of this incubator, this accelerator that owned most of the equity of the company. So he basically felt like hired help to run this company. And it played out that way.
So what would you do different now? Or what do you do different?
I look very closely at the cap table. I try to understand who all those people are and cousins and uncles on the cap table. And then I. I think it goes back to, like, data, like pattern recognition. You get better at looking for that authenticity in.
So you want the founder engaged and the ability to.
This has got to be his. He or she, they're going to create this company with or without us, no matter what they feel. Strong conviction for this company. So that's what it's one of those important things that we look for.
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