The State of NY Venture Capital in 2013

MITEF-panelists-200x200MIT Enterprise Forum in NY held a tech and VC event in the spacious yet intimate Gramercy loft of Sam Hamadeh, founder of PrivCo and Vault.com Thursday evening. Panelists from the NY venture capital community discussed the current and future directions of tech. Their conclusion: venture capital is very strong  and NY is great place to start a company. But there is one caveat. According to panelist Habib Kairouz of Rho Capital Ventures, it will be a busy year for investors, but a tough one for early stage entrepreneurs. “A lot of companies got funded at a very early stage by angel and pre-series A rounds that are not trying to get the first institution round. I think the bar has gone up substantially for that person’s institution round.”

Charlie O’Donnell of Brooklyn Bridge Ventures sees a lot of investment in product at the individual company level. He says many first time founders who’ve been backed are relatively younger and don’t necessarily have industry experience. “If you kind of read the tea leaves and what’s being talked about, I think investors are finding that more focus on revenues and some kind of stability or predictability is where they’re looking. I like founders who have some expertise in their industry and have appropriate DNA for the kinds of problems they’re facing.”

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