Alliance Voices: Gene Banman, CEO of DriveScale
Company: DriveScale, Inc.
Member Since: 2004
“It takes 60 meetings to get a term sheet," says Alliance member Gene Banman, CEO of DriveScale.
During Gene's November 4, 2016 "Alliance Voices" presentation, he shared his experiences and lessons learned in raising 3 different A Rounds of funding. He gave a revealing talk about the in’s and out’s of raising venture capital and provided point-by-point instructions for smart preparation, including how to land a proper introduction with a VC, how to find the right fit with a VC, when to consider the terms of the deal, why the character of the VC is important, and how obtaining multiple term sheets can get you the best deal. Did you know that a typical VC holds 300 meetings a year, but only signs 2-3 deals? For Gene, that means 60 meetings to get a term sheet – every time! In short, this game is not for the faint of heart and takes strategic persistence.
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