13. I was what I like to call a
“bridge and tunnel investor”
for 2 years
14. Bridge and tunnel investor (n) /ˈbrij əәn(d) ˈtəә-nəәl in-ˈvest-or /
An investor who parachutes in from a remote office to spend
a few days a month in NYC but lives elsewhere
Note: the number of b&t investors has increased dramatically
over the past 12 months
15. I was b&ting for two years because NYC was
representing a larger number of deals for both
Me and The Firm
Number of NYC Companies Number of NYC Companies
Evaluated by Year Evaluated by Year
2009 2010 2011 2012E 2009 2010 2011 2012E
16. So in the spring of this year our
team sat down, reviewed the
data and I committed to move
to NYC
29. There’s a mismatch in the number of seed funds and
the number of series-A+ funds that is not sustainable
Seed/Angel funds with Seed to scale funds with
fulltime people in NYC fulltime people in NYC