A former lemonade stand entrepreneur turned Venture Capitalist
Everyone defines later-stage venture differently. Some people define late-stage as user, customer, or product traction. For me, it’s even simpler. If a company is approaching $1M in revenue per month, that’s a late stage company for me. Why the magic number of $1M? It’s simply a matter of time and focus. Since I have yet to find a company who can manufacture more than 24 hours per day, I have to define my focus. I could have said 1 customer or 1 million users, however, I’ve found that $1M of revenue per month is a decent starting point. Additionally, I’m experienced investing in companies with at least $1M/month in revenue. Therefore, I feel comfortable I can bring a differentiated perspective.