October 1, 2012 12:00 am GMT
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/fk9B8FXn96c/
You Dont Need A Prototype To Raise A Seed Round
Editor's note:Editor's note:Mike Hirshland is the founder ofResolute.VC, a seed-stage venture capital firm. Prior toResolute, he was a General Partner withPolaris Venture Partnerswhere he led the creation of Dogpatch Labs as well as Polaris's investments in companies including Automattic (WordPress), Quantcast, KISSmetrics and Q1 Labs (IBM). Follow him on his Resolute.VC blogandTwitter. Back in the old days (as in 5 or 10 years ago) the very definition of a seed investment was investing before any product had been built or prototyped. Since then, the ability to build a startup on far less capital has made seed investing less risky. But, oddly, it seems that seed investors have become more risk averse.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/fk9B8FXn96c/
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