Occasionally one comment encapsulates the exasperations of VCs that invest in early stage companies.
One of our favourite comments came from a non-executive director in one of our portfolio companies, who was not familiar with the excitement and energy (read: hype!) of an early stage company. After a number of monthly board meetings in which he participated enthusiastically, he asked an innocent question:
‘You know, I have been coming to board meetings here for many months and I keep hearing about the great progress with prospects and partners. But how come the good news at the board meeting never shows up in the numbers?’
We couldn’t agree more!