Jason Green, co-founder and partner at Emergence, is one of the leading VCs currently investing in business start-ups. But even with a focus on B2B, many of their companies have become well-known names – including Zoom, Yammer, Box and Salesforce.
Now we all live in a climate where everything has been turned upside down. Meetings are virtual, the future economy and collective health of the world are unknown, and investors – or founders – bring completely new parameters and rules for engagement.
We sat down with Green for an insightful hour to talk about the challenges of it all, doing business, running a business, and suddenly turning your calm B2B name into a verb. It was an interesting conversation that was worth reading for company founders and investors, but ̵
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Below is a slightly edited transcript of our last chat with Green.
How does procurement affect the current climate?
The procurement is not much different. We follow the same due diligence process. So when we make an investment, the entire team is always immersed in the due diligence and carries it out. That is why we conduct manager references and customer calls and spend time with each management team that has one-on-one meetings. In a way, it was better. First of all, we could very easily set up breakout rooms with each individual management team member and then come back. So the meeting had this dynamic that we didn’t have before. We could basically record it and share it with people who couldn’t attend. So we had all the information when we made the decision together. That was actually very special. So it took a little longer, it probably took about 50% longer than we would have otherwise. But I actually think that now that we know what we’ve done, we could probably compress it back to our normal time frame. So I think in many ways, like many other people, we’ve learned that we can do things remotely that we probably didn’t think we could do before. Hopefully we’ll see how the investment goes, but we’re very excited about it.
Are you thinking about more startups outside the valley and how do you see your own place outside the valley?