A concern for us when we started to think about initiating a transaction process was to find the bank that would be best able to understand our technology.
We started the process believing that we would divest a portion of our equity to a private equity firm, but the final outcome was a strategic sale.
The most important thing is focusing on the strategy and the operations of the business and, as a result, you will yield the best outcome in a transaction.
We wanted to find a bank that was “right sized” for our business. Specifically, we wanted to find a banking partner who focused on companies our size—someone who would see us as a priority in their own pipeline.
Not all venture firms are alike. Some are raising their 10th fund while others are investing out of their first fund. Some focus on early stage companies, while others focus on growth or later stage companies. However, they all do have one thing in common.