For many startups venture capitalism is critical in order to take their innovations to the next level. True Ventures who portfolio includes well known entities like Fit Bit, about.me, and Automattic are at the forefront of entrepreneurial investing. John Burke, a founding member of TV, recently discussed what it means to be a VC as well as what it took to obtain one.
Acquiring an interest in startups during his college years Burke worked for various firms before leaving his home state of California to move east and pursue his entrepreneurial dream. For eight years Burke ran his first business BMI Software which provided technical assistance to major conglomerates such as American Red Cross and FedEx. After selling BMI in the late 1990's Burke enrolled in business school thus familiarizing himself with the term venture capital. After graduation Burke became a VC and founded firms ABS Ventures and Blacksmith Capital before eventually ending with True Ventures.
During the chat Burke discussed topics ranging from his first investments (about.me, Giga.Om) to his take on technology's future climate. A key highlight was when Burke spoke on what it took to become a TV client. According to Burke a potential firm should not be operated by a married duo/relatives, have more than one owner but less than four, and have a product/service that is unique. Burke also addressed that meeting with founders in TV's portfolio instead of him will give a startup a stronger chance of becoming a client.
During the Q & A session Burke answered questions pertaining to TV's business philosophy as well as mentoring and the future of wearables. His final words of wisdom for startups was focus on building a successful brand from one idea instead multiple ideas.
With his vast amount of knowledge and insight John Burke stands out as a top VC. With him at the helm True Ventures will continue to be a driving force in the world of business investments!
WRITTEN BY TIMEKA COBB, STARTUP GRIND DC