Investors Don't Want Their Own MeVC
from the not-looking-so-good dept
An old roommate of mine was one of the first employees at MeVC.com. I ran into him a few months ago and he was joking about how there wasn't any actual work to do there. When MeVC first launched during the happy go-go dot com days of 1999 I said it was a gimmick that would have problems if the economy went bad. I guess I was right. The economy went bad and things don't look good for MeVC right now. They wanted to launch 20 funds, but have only gotten 1 off the ground so far. That single fund isn't looking too hot either. I'm actually surprised because this article trashing MeVC comes from Red Herring, who doesn't usually trash anyone in the VC world. I'd bet if MeVC were backed by KP instead of DFJ, they would have spun the story in a way to make it seem like it was a struggle, but they were going to pull through. It's funny how Red Herring is sort of the in-house organ for KP investments.
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RH normally loves DFJ
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