I haven’t written anything yet about TheFunded, an invite-only website that allows entrepreneurs to “rate” venture capitalists. Generally I consider it to be a noble endeavour, but there is a flaw that glares like high-beams on a semi:
No one knows who runs the site (calls himself “Ted”), or what editorial standards he has (if any). There are also a myriad of more minor concerns (can a VC even be rated? how can the site have legitimacy when it’s top-rated firm is just a few months old and without a single exit? shouldn’t a “funded” entrepreneur’s opinion have more weight than an “unfunded” one?) — but anonymity is the primary issue for me.
Until today. Actually, until November 15 — when TheFunded’s proprieter will come out of the shadows in an event for site members ($300 per ticket) and select VCs in Palo Alto. He promises to reveal himself, explain how the site works, where its content comes from and more. As he writes: “All of the major questions surrounding the site will be answered.”
I actually spent over an hour discussing TheFunded with some venture capitalists yesterday, and will be sure to write more on November 16…