Right Side
Capital made a bombastic announcement just a few hours ago at the Future of
Funding event by TheFunded. They announced they will do 100-200 seed
investments a year! No angel, angel group, incubator or seed VC has ever done
that many deals per year – read
more on TechCrunch. They will start accepting applications in mid-2010 and
they claim the process will be simple, with a web-based form submission and you
getting a response in a couple of weeks.
For several years now, I’ve been talking to any angel or VC
who would listen to me that we need more startups, however most of them
pushback saying that we need less startups with better quality. Right
Side Capital just agreed with me: quantity on the short term will lead to
better on the long term.
Imagine how many people could not bring their amazing idea
to market because they were short by a few months and needed to get back to
work, or they were working part-time and should have been full-time. Angels and
VCs, for the most part, are disconnected from the realities of being an entrant
entrepreneur. Even Angels that are current entrepreneurs forgot how hard it was
on the beginning.
Yes, you could claim the obstacles entrepreneurs have to
overcome like a natural selection process will be the ones creating the best
companies. I call it baloney. There is a lot that happens on life. A sick
parent, a new kid, a new spouse, a divorce, a health issue and many other
things that have nothing to do with “having what it takes to be an
entrepreneur”, but can completely derail an entrepreneurs dream because of a
lack of support, including money.
I absolutely applaud Right Side Capital. They are disrupting
the angel investment industry in a single move like no one has done before.