Upfront Ventures is closing deals entirely remotely without meeting founders
Mark Suster · 20VC: Upfront's Mark Suster on COVID Redefining What A Great Company Looks Like and What Valuations Look Like, Why Pay-To-Play Is Back On The Table & Why We Will See The Death of Party Rounds · Apr 20, 2020 · at 15:34
Mark Suster is Managing Partner at Upfront Ventures. He is explaining how his firm continued investing during the early COVID-19 lockdowns without in-person meetings.
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“We funded a company today. We submitted the term sheet two weeks ago, and I've never met the founder in person. We greenlit another term sheet last Monday. It'll fund early to middle of next week. I've never met the founder in person. We are going to our partner meeting next Monday with a third deal that we're very excited about. One person on our team has met them in person, but nobody else has met them in person.”
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