Before You Go to the VCs by Joseph Bartlett Entrepreneurs waste a lot of time soliciting professionally managed venture funds.
Venture capitalists operate according to their own largely unwritten rules.
In order to play the funding game, you must learn these rules. Below, I've listed some of the most-common mistakes. They won't tell you everything you'll need to know, but these simple rules should help you understand the VC process and avoid an enormous waste of time, energy, and opportunity. Choose the appropriate audience. VC funds collect huge sums of cash, and managers must put it to use within four or five years, or risk losing it.