I had the chance to sit down with Chicago serial entrepreneur, Gretchen Johnson. We talked about her new company TRACT Therapeutics, how a unquenchable desire for challenge has driven her career, and Gretchen shares her advice to current and would-be entrepreneurs.
Capital efficiency has become a mantra at Atlas, one shared by a number of other early stage biotech investors. It’s a term often repeated in discussions about building young companies, and yet it has become clear that there’s no consistent definition of what the term means.
Private heart failure treatment company BioVentrix has closed a $12.4 million equity financing. The deal was managed by microcap specialist brokerage Taglich Brothers and involved 195 undisclosed, accredited investors, according to an SEC filing.
Dreams of starting your own business are often filled with fantasies of coming up with a great idea, and venture capital firms fighting to fund it for you.
But as Bill Reichert of Garage Technology Ventures puts it: “The odds of raising venture capital are equal to the odds of getting struck by lightning while standing on the bottom of a swimming pool on a sunny day.”
A July 5th article in Crain’s Chicago, “Plant venture seeds with Midwest capital” claimed that all of the seeds are in place to make Chicago a hub of entrepreneurial innovation.
Illinois does have globally competitive universities; big corporations investing in innovation; a raft of business incubators and accelerator programs; serial entrepreneurs eager to mentor and mentoring programs to leverage this new pool of entrepreneurs; government partners willing to lend a hand; recognized Chicago-grown companies drawing investor interest and serving as a proving ground for young talent; and enthusiastic early stage investors who want to help founders develop their ideas.
Are you thinking about what you need to fund your company? Where do you start? Funding is not “one size fits all”. Every company has to approach their pathway to funding with a unique approach. Join our fundraising experts for an in-depth discussion of what options you have for funding and how to decide which paths are right for you and your company. We’ll have a specific focus on life science focused companies and technologies and the funding choices available.
-Jeremy Halpern, Nutter McClennen & Fish
-Yumin Choi, HLM Venture Partners
-Paul Hartung, Cognoptix, Inc
by Brad Feld
As exits have been flowing nicely again the past few years, many of the entrepreneurs I work with have experienced their first big exit.
I refer to this moment as when you find that you have life changing money in your bank account, which I like to call “fuck you money.” You now can do whatever you want with the rest of your life.