Taft: Passing on Remynt until initial debt collection milestone is proven
Ben Taft · Will These VCs Bet on Her Startup? | $100K on the Line for Remynt! · Nov 6, 2024 · at 13:16
Gwyneth Borden pitches debt-remediation platform Remynt on The Pitch. Ben Taft explains why Genius Ventures is opting not to invest at this stage.
0:00 / 0:26exact quote · 26.2s
▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark
“Where I stand and where we stand as a fund is it would go a long way for us if you were past that first milestone because that's the furthest you can get on your own to prove that this business will work. And now you're at the obstacle where you need the money to move on to the next phase, but you've already de-risked the business up to this point. And so if we were talking two months from now, I think I could get really behind this, but I would want to see you get to that .1 personally. So that's why I'm going to sit out for now.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Ben Taft
Taft: Pre-seed startups should sell vision instead of feigning hard traction
“We're selling sizzle at the pre-seed, right? And as soon as it's like stake, it's, you know, there's something to measure, then you can start to scrutinize the business, and if you start to insinuate that there's maybe more stake than there is, then we'll star…”
Ben Taft offers to invest $250,000 in Party Trick
“I'm in the same boat, and if Cyan would have us and our diligence checks out, then we'd love to sneak in a quarter million into that same round.”
Ben Taft predicts Party Trick could quickly reach $100M in ARR
“I mean, if that's at all real to any degree, we could see her going to 10 to a hundred million in ARR and, you know, a pretty finite amount of time.”