One of the things that makes M13 unique from other venture firms is our decision to operate the firm as a company. Almost every company in our portfolio has some form to gather user/customer feedback - most of these companies, use the well-known NPS method as a way of reporting / analyzing customer feedback.

But very few VC’s have any method of gathering feedback from entrepreneurs. As a founder who raised $60m of venture capital, I can’t recall a single time that a VC asked me for feedback. Raising money is hard. Most entrepreneurs, including myself, have experienced meetings that start late, investors who are constantly checking their phone during the meeting, or simply being ghosted after a meeting. The fact is that we all have opportunities to improve but we have to be willing to ask for and give constructive feedback. If entrepreneurs are the customers of venture capital (as I see it), then quite simply, venture capitalists should be asking them about their experience.

As part of my process, I ask entrepreneurs who I’ve met with to take a short survey to let me know how I am doing and what I could be doing better. As a new firm, we are eager to improve and we deeply appreciate the thoughts many entrepreneurs has already shared with us. The survey is completely anonymous. We value every response.