Why would Icehouse Ventures say no to investment?
We respect the time of the founders we interact with. We respect our own time too. We know that one of the hardest part about fundraising is getting "venture nos", not a no but not a yes. This creates ambiguity, false hope and frankly wastes everyone's time. We are committed to being upfront, honest and clear with our feedback and we try and do that as fast as we can. In reality, we are all busy. We meet with hundreds if not a thousand new companies every year, so it's hard to get back to everyone immediately. But our ambition is to be as swift as we can be.
However, it's important to point out. If we say no, it doesn't mean we don't think your venture has merit and potential. Our view on ventures potential of being a successful company is not necessarily the same as what we say yes to as a fit for our funds. We have a certain investment thesis and a view to invest in very ambitious founders building global companies that have unique tech. 90% of companies don't fit this bill and for good reason. It's hard and risky. Sure the pay off could be great it if works, but there 's a tough road to get there.
A few more thoughts: We are wrong as often as we are right. We are only making educated guesses based on limited information. The founder is always going to be 100x more informed than us about the market and the opportunity. Our opinion is only that, our opinion.
However, it's important to point out. If we say no, it doesn't mean we don't think your venture has merit and potential. Our view on ventures potential of being a successful company is not necessarily the same as what we say yes to as a fit for our funds. We have a certain investment thesis and a view to invest in very ambitious founders building global companies that have unique tech. 90% of companies don't fit this bill and for good reason. It's hard and risky. Sure the pay off could be great it if works, but there 's a tough road to get there.
A few more thoughts: We are wrong as often as we are right. We are only making educated guesses based on limited information. The founder is always going to be 100x more informed than us about the market and the opportunity. Our opinion is only that, our opinion.