Tag Archives: Venture Capital

Chuck Lacy speaks about Raising Venture Capital for Socially Responsible Businesses

Earlier last month, I was fortunate to attend a lecture by Chuck Lacy former President of Ben & Jerry’s and currently President of Barred Rock Fund. He was a guest of the Legatum Center at MIT and spoke about raising funds as a social business.  It was interesting hearing him speak since he really did not focus on the fund raising part as much as some basic precepts that most entrepreneurs should keep in mind – whether you are growing a socially responsible business or a plain old fashioned technology startup.

I thought I would try to distill the essence of what he said as I think it is very relevant especially in these tougher economic times.

  • Don’t raise money. Sounds counterintuitive but it makes sense. You should run as long as you can on your own money. You should think about working part time and keeping 100% of your company instead of working 100% and giving up 50% of the company to raise cash. Raising money means you are giving your company away. There are many ways to raise money without diluting your stake in the company – Grants, state funds, PRI funds. Continue reading
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Models for Early Stage Funding

Several outfits, that I am counseling, are looking at the traditional VC route to raise funds. Sometimes people find this at odds with a socially focused business. The term Social Entrepreneur provides a broad umbrella that covers a number of different types of organizations – ranging from non-profits, to socially focused businesses (as defined by Yunus) to for-profits that have solutions that address a social issue in a major way. Continue reading

Entrepreneur’s Notebook

I have spent the past several years counseling a number of startups and emerging social entrepreneurs. As I have gone over numerous business plans, ideas strategies, I have been trying to distill some of the learnings from the growing pains of these various nascent enterprises. I hope very soon to write about this on this blog. Continue reading