Kamla Bhatt interviews Jay Patel, who is an executive director at IMImobile, a wireless value added services company in Hyderabad, India. He is also a director at NewMedia SPARK, a London-based VC firm. Recently IMImobile received $10 million in Series B funding from Pequot Ventures.
In this podcast interview Jay talks about IMImobile's latest round of funding and shares some tips and ideas for entrepreneurs on how to raise money from VCs.For those not inclined to listen to the interview, here are the key points:
- Usually takes 5-6 months for the funding process to actually bear fruit.
- Best to appoint an advisor for the process, who for a fee will take care of your valuation and try to get you the best deal from the VC
- NewMedia SPARK is looking at companies looking to internationalize their operations, say in the online publishing sector. So if you have a product or a service and are looking at between $1-5 million for funding, well drop him an email.
- Valuations of companies looking for investments are shooting up
- All VC's of course look out for the management team, and Jay's seeing a lot of well-trained 25-40 year olds with good skills who may not have the family money, but would be good investment targets.
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