The fog of war

Investor processes are really interesting. And especially so when you are getting into the final phase. It gets very messy. Information requests bombarding everybody in the company, digging out detailed numbers no one has ever considered existed. VC’s inviting you for drinks and calling you to get you over to their side, maybe bridging a valuation gap. Owners with very different interests and knowledge of what this is all about, and how this will dramatically change the company. Management team that also sees very differently on what a VC and millions of GBP can do for┬áthe company, and what it means for their personal ambitions. Employees who who get a bit confused about all the talk of “enterprise value”, “exit strategy”, “growth plan”, “product road map”, “option pool” and what have you – what does all this mean to them?

It is all a bit messy for the CEO, but it gets really messy for everybody if the process drags along, management lose focus on running the business and information spreading is becoming erratic and random. Luckily, I think in our small company, we have so far managed pretty well. Not perfect, but we are doing ok. We are also helped by the fact, that we are only three months into the process, and I honestly think we are getting closer. In the autumn when we started preparations for the process, we said we should close a round with a great VC in April or May. And know what – I think we will do that. We are starting to have great offers on the table, and they are from great VC’s.

I have my one or two favourites, but most of them are good, and I would be happy to work for them. Now we just want to close this and move on with full speed. Let the fog of war be cleared and be replaced by sunshine and the view of the land that flows with milk and honey!

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