A True Story

Learning from a bad experience investing and not using the technology we invest in helped us realize the size and viability of the opportunity

Ohh the IRONY!!

A story we like to tell to give an idea of the pain-ponts is a time where as Investors (before Venture Machine existed) we had to wait 3 months to get our Limited Partner's (LPs) money back from a cancelled SPV we had created using a third party SaaS platform.

LPs didn't know if the money had been deployed, stolen, or being hold hostage, and the SaaS was not picking up the phone or answering emails. How could this be?

We then came to discover that the SaaS owner was friends with the founder of the startup we cancelled the investment from. Not only we had the typical wire transfer inefficiency problems, we were also being slowed down by the "neutral" third party SaaS' own interests.

Being the startup we were investing in a crypto startup, we thought it was enough of an irony that we ourselves were not using blockchain as the backend for our own investments.

Last updated