Something we’ve been hearing with consistency the last week or so: Despite lots of “everything has changed” proclamations, investors are still writing checks to tech startups. Latest example: Richard Wolpert, who runs the LA-based Mailroom Fund (funded by Venrock, Accel, and William Morris), announced today that he has two signed term sheets for new investments – one of which got finalised on Monday. No details on who, how much, etc.
Richard, who was speaking at Dow Jones’ Meda + Money conference,did say that as an early stage investor, he’s now getting better terms than he did a year ago (lower valuations, better preferences, etc), but that’s a change that’s been evolving for the past 12 months. Meanwhile the rest of the folks on Richard’s panel — Velocity’s Ross Levinsohn, Spark Capital’s Santo Politi and NBC digital boss George Kliavkoff — all said they were going to keep investing in digital media.
So that’s positive. The flipside: We also spoke to an investor today who is trying to raise money. And that process, he says, is not going anywhere. Conclusion: If you think your startup is going to need money, best get your hands on it now.
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