LiveOak's Blog

We have been in the venture capital business for over 15 years and one of the issues that continues to be a topic of debate is the expectations of VCs during their interactions with entrepreneurs. We have heard first-hand feedback from entrepreneurs over the years about what they loved and despised in their interactions with VCs. Out of that has evolved a set of values and principles that guide our daily interactions with entrepreneurs.

On one hand there is significant pressure on our time from both existing portfolio companies and the new companies we meet, which exceeds by several orders of magnitude the number of companies we ultimately invest in. On the other hand, the passion and effort put forth by entrepreneurs into their company demand immense respect and focus from us both during and after the interaction in the form of a constructive response with feedback. We believe that managing these demands on time and intensity are critical for us and for the continued thriving of the venture business.

Ironically the partners at LiveOak felt this pain directly when we...


Seth, our new marketing analyst, asked me a simple question the other day: “with the level of activity in town why are there not more funds here? What did it take for you guys to raise the first LiveOak fund?”


There has been a Medium post floating around recently that attempts to shed a light on the startup capital landscape in Austin. I hope that you find this (my first ever blog post) to be a helpful alternative perspective on early stage investment in Texas through the lens of a practicing venture capitalist.

The blog post starts by mentioning an offer of investment from an Austin based “venture capital firm” (emphasis added by me). My partners and I have been investing in early stage companies in Austin for over 15 years now and have worked at or with most of the Austin based venture capital firms of relevance and we cannot imagine any one of them asking for those terms. Anyone that has participated in building a successful early stage company knows that highly punitive terms like that leave little incentive for the team to succeed and last I checked owning 100% of zero is still worth zero. So, I suspect there is a...