Silky, it's not a VC firm because VC firms don't invest seed money. The problem with running it how you're proposing with lots of networking events and so forth and incentivising people to become members based on benefits is that it becomes a business in itself - and those type of things don't run on charity. Despite people's best intentions, any business that needs ongoing maintenance will die unless people are paid to do that job.
If you limit the scope to basically getting in the money, investing in 10 companies and then relying on social media/email groups to do the virtual networking it's a more realistic goal. It really just needs someone with legal/financial knowledge to come up with a workable structure. Jonathan, I take your point but I think you could use some sort of auction system maybe? ie 10 out of 500 people decide not to go forward, so there are spaces for 10 new investors. Those places are auctioned which would then actually give you a bit of a valuation on what the group is currently worth. The same system could be used if people wanted to cash out. Phil Sim Chief Executive Officer, MediaConnect Australia Pty Ltd www.mediaconnect.com.au phi...@mediaconnect.com.au Ph: +61 2 9894 6277 Fax: +61 2 8246 6383 Mobile: 0413889940 On Fri, Feb 6, 2009 at 4:46 PM, silky <michaelsli...@gmail.com> wrote: > > I personally don't see the point of creating yet another VC firm, > which is what you guys are talking about with the investment-based > approach ... > > > > --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Silicon Beach Australia mailing list. No lurkers! It is expected that you introduce yourself: http://groups.google.com/group/silicon-beach-australia/browse_thread/thread/99938a0fbc691eeb To post to this group, send email to silicon-beach-australia@googlegroups.com To unsubscribe from this group, send email to silicon-beach-australia+unsubscr...@googlegroups.com For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en -~----------~----~----~----~------~----~------~--~---
