Report Card for VCs
Quoting from the Red Herring story:
Report Card for VCs...
TheFunded.com turns tables, letting startups rate funders.
April 29, 2007
By Ken Schachter
Venture capitalists, long accustomed to taking the role of Simon of "American Idol" in judging startups, are seeing the tables turned.
That's because TheFunded.com recently launched, inviting entrepreneurs to post to its web site ratings of venture capital firms. On Thursday, after collecting more than 500 reviews, TheFunded.com released a list of the top five venture firms worldwide.
Venture capitalists said it was inevitable that VCs became subject to the same scrutiny as college professor (RateMyProfessors.com), doctors (RateMDs.com) and contractors (AngiesList.com).
"It was only a matter of time before this came up," said Sarah Tavel, an analyst at Larchmont, New York-based Bessemer Venture Partners, one of the firms ranked in the top five. "Increasingly the process is becoming more transparent and, perhaps, more symmetrical."
Bruce Cleveland, partner with No. 1-ranked InterWest Partners, based in Menlo Park, California, said the site fills a gap for entrepreneurs and evens a one-sided relationship.
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