Seeking Entrepreneurs / Business Plans

[genycapital]

When I was graduating college, I had a great business plan that won an award on campus, and nobody would listen to my business plan. That was until I sat next to a famous entrepreneur with deep pockets willing to take a chance on a few young 20's somethings.

Now we have created a venture capital fund targeted at recent college graduates / MBA's called genYcapital. Our website is www.genycapital.com - and we have an area to submit plans. Please let us know that you found us on Young Entrepreneur. Thank you.

[jasaunders]

While I think it is a great idea what you are doing, I find your website unprofessional for a VC firm and very uncomforting for entrepreneurs looking to obtain seed funding. Essentially your team is made up of three young entrepreneurs and as a result, I can't see why any intelligent entrepreneur would submit their complete business plan to you without an NDA. While it is true, most VC's will laugh at the notion of signing an NDA, your company has no reputation and essentially no portfolio, making it extremely risky to submit anything.

I really like what you guys have going, but you may want to rethink your approach or you may receive quantity over quality submissions.

[genycapital]

Hi Josh - thank you for the comments. VC firms in general do not sign NDA's, and while we currently do not have a large portfolio yet for this fund, all partners and investors have invested in over a dozen projects each. I would like to think we are still young, but all partners are over 30 years of age.

[akula]

heya there genycapital, so...who do you syndicate ur deals with for up rounds...actually scratch that

look, we're doing an "ebay for recruitment" marketplace where employers lower their cost of hire by accepting competitive bids from multiple recruiters...we're basically the australian version of bountyjobs.com (backed by benchmark cap, experiencing exponential growth)

based on your prior experience with ecampusrecruiter.com, we'd be an ideal fit for your portfolio, except, I can't understand why gencap has this need to solicit cold dealflow..i mean, what, am I gonna tell my board "I met these financiers over the net?"...there goes my job.

keep it on the down low fellas )

[genycapital]

Hi Daniel - right now we have two avenues:

1. Our primary investor is a US billionaire capable of funding larger investments.
2. If he is not interested, we have begun relationships with several private equity funds.

We have not taken any ventures yet to larger vc firms as we are new ourselves.

[2gould]

I like the idea. However, if your partners have invested in approximately 12 companies/projects each, why not list those on your website. It would give your group more credibility and might alleviate some of the concerns Josh posed.
Where is your Boston office located?

[jasaunders]

Hi Josh - thank you for the comments. VC firms in general do not sign NDA's, and while we currently do not have a large portfolio yet for this fund, all partners and investors have invested in over a dozen projects each. I would like to think we are still young, but all partners are over 30 years of age.

Thanks for the response. I understand this, my concern is that your professionalism is not displayed on your website. So as someone who lives in Chicago and is currently looking to raise upwards of $900,000 for a venture, I wouldn't submit my plan to you guys without a formal meeting or referal from someone I know. I just think you should work on how you display your credibility, otherwise I think you will get a lot of junk submissions.

BTW, I see you're located in Chicago... will you be attending the TechCocktail Chicago event next week or the Ignite event coming up? Are you guys active at all in the Chicago entrepreneurship scene?

[genycapital]

That's a good idea. We can add more information about previous investments prior to this new fund. We have a partner located just outside of Boston in Brookline. Are you seeking seed funding for a project?

[akula]

hahha, funk, I love this space
we've got like 2000 institutional venture funds in US, and out of those only maybe 10-20 formalise a unique value proposition on their websites...save for the coveted 5 or 6 funds who actually make any money backing early stage tech deals
r-e-s-p-e-c-t..you blokes are bloody brave to be betting other people's money on this stuff..are you guys also individual LPs in this gencap fund?

[genycapital]

Right now our investments range from $15k to $500k. I am trying to attend the TechCocktail Chicago event next week, but I am unable to go to the Ignite one because I will be a business plan judge at Miami University that day.

[2gould]

geny:

I am not currently seeking any funding. I asked simply because I live in Boston and was curious. Brookline is a nice area - there is a great BBQ joint in the neighborhood.
Best of luck and maybe I will run into your Boston partner at some point.
Cheers

[jasaunders]

Sounds good. Maybe I'll meet you next week.

[genycapital]

We are new in the game and trying to spread the word around. If you are interested in funding, please visit our site www.genycapital.com - - we have good experience in the online recruitment industry.

[jasaunders]

You may want to see if you can get profiled on freshwater venture
I think that will help you guys out a lot in the Chicago area.

[carrera87]

niceplan