SAN FRANCISCO April 24, 2012 Darin Buxbaum $300,000 ™
"We raised our largest round of venture capital in 2010 (including blue chip investors) when very few clinical-stage medical device companies were being funded," he said. Then, at the end of last year, he was surprised by the flexibility of an independent funding source that offered him a 10-year venture lease so he could preserve his working capital while still acquiring manufacturing equipment and expanding research and development.
™ San Francisco, CA. http://fountainpartners.com/category/news/
Tom Carter time
™ Redwood City, California
"It’s rare for anyone to offer more than three-year terms to small, unknown pre-revenue-stage companies," said Buxbaum, who had approached other funding sources before meeting Carter through a financial services intermediary.
But it wasn’t just the unique idea that got him the funding needed to acquire manufacturing equipment. Both Buxbaum and Carter spoke to the importance of the relationship they created.
"I just wanted to minimize my cost of capital with a low interest rate and maximize my time to pay it off," said Buxbaum, "but I’m glad and grateful Tom and I took the time to get to know each other."
"If we make decisions based only on the obvious, such as ‘this company is pre-revenue’ then we deprive ourselves and our clients of our capability and positioning in the market," said Carter.
SOURCE Fountain Partners