The actions are a reflection of how fervent the Silicon Valley startup landscape has become and how much it can take for investors to convince an entrepreneur to take their money. Startups have so much cash chasing after them that many entrepreneurs can pick and choose who they take funding from. In the first half of this year, U.S. venture funding totaled $23.9 billion, up 71 percent from the same period in 2013 and comparable to the levels of the late 1990s dot-com bubble, according to researcher CB Insights.
I have many friends and partners in the FinTech space and the stories they’re telling me about “being chased by money” are becoming more frequent and increasingly hilarious. “My board is begging me to do something,” they say, or “The venture guys want me to think bigger, they’re liquid to move on anything I say right now, even though there’s nothing I really want to do.”
if you thought the Chase For Yield was crazy, you should see the Chase for Seeds.
In a story today about how aggressive venture investors have gotten (pledging votes for the founders, offering startups a piece of their own funds’ profits), we are treated to the above stat.