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When I attended college at George Washington University in the early 1990’s I had long curly hair, practiced guitar religiously, and spent a lot of time playing in a mediocre rock band. When our band was failing to deliver an audience for the bar we gigged at, we tried everything to put the word out … More →

Why Venture Capital Fundraising will Never be the Same

Just a few years ago, companies doing an early-stage round with the assistance of a broker would’ve been laughed out of a venture capitalist’s office. The broker could’ve been a friend acting as deal-finder or a pro from an investment bank. In either case, if you had an intermediary you weren’t exactly greeted with the … More →

What is a deal portal? (And how I realized I was building one.)

I had a real light-bulb moment this week. Everyone gets them on occasion. And like many entrepreneurs, I live for them. You know, that moment when you think you’ve figured something out that nobody else has. And then you wonder… How’s that even possible? Hasn’t everyone already figured everything out? While our team was working … More →

Reading between the lines of’s “quasi” no-action letter

There’s a conspicuous lack of no-action in the no-action letter. Last week’s blog covered’s recent no-action letter. As several readers pointed out, what was conspicuously absent from the SEC’s reply to’s request for no-action was the absence of actual “no-action” language that’s customary in communications like this. In other words, there’s a … More →