Veteran Venture Capitalists Speak to Booth Students

“If I could go back in time [to become a student at Chicago Booth again], I’d try to meet everyone I could,” said Stuart Peterson, ’95, cofounder and senior partner at Artis Ventures, a San Francisco based venture capital firm has backed such companies as YouTube and Palantir Technologies. “Classmates will help you more than you think.”

Meanwhile, Jeff Sheedy, ’95, director of international marketing at Artis Ventures, believes that success isn’t only about a good idea, but also the people around you.

“Having a strong team gives you an ability to deal with adversity and allows for pivots,” he said.

These two venture capital veterans discussed their experiences to students at the annual SeedCon conference at Chicago Booth. Hosted by the Polsky Center for Entrepreneurship and Innovation, the event featured an entrepreneurs showcase, panel discussions and workshops where students could interact with entrepreneurs, network and connect.

Peterson and Sheedy came up with a master list of do’s and don’ts for students seeking out venture-capital firms.

• When meeting a firm, have a demo when giving a presentation. Try to solve a hard problem; it’s easier to attract investors that way. Know the market, share the economic studies with the team, and most importantly fully commit to the idea. Finally, follow up quickly and thoughtfully after the meeting.
• Don’t cold-call or cold-email. Instead have a trusted third party make a connection, as it’s too hard for people like Peterson and Sheedy to take a serious look at an idea otherwise.
• Think long term, so don’t ask for a non-disclosure agreement at the beginning and don’t go for quick hits.
• Don’t clutter up presentation slides and if you don’t normally wear a suit, do not wear one. “Be comfortable with yourself and in your clothes,” Peterson said.

One Booth student, Tibi Stef-Praun, said it was helpful to hear the thought process straight from the mouths of two men who have taken risks and succeeded.

“You also got the perspective of at what point you should approach a venture capitalist, too,” he said.

This post used information in a press release by Debbie Carlson from the Booth School website.

regions: Chicago

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