A venture capitalist's lifeline is his connection to the high tech community.
In 1984, when I was the Manager of 3i Ventures, California, I started Monday Club. 3i Ventures was a venture capital firm that invested about $80 Million in 60 high tech companies. The original idea of Monday Club was to expand 3i Ventures' network of contacts -- for access to investment opportunities and to people who could help build successful businesses. Monday Club was 3i Ventures' version of a "Technology Fund" or "Affiliates Fund" that many venture capital firms use to expand their network.
In the early 1990's, there were about a dozen members. But the number of new high tech businesses began to grow rapidly, and the membership of Monday Club followed suit. As it adopted a monthly format of having one or two companies present their business plans, interest grew and the membership expanded to about 90 people.
The purpose of Monday Club is to help companies improve their business plans and to introduce them to helpful resources. Because many members of Monday Club are also members of the Tech Coast Angels ("TCA"), presenting companies have often "graduated" to TCA and received their financing.
Monday Club demonstrates the power of networking. It's only real rule is "no exclusive deals." Attendance at meetings is not mandatory. Members come when they can. But many members have become personal friends as well as business colleagues. And Monday Club continues to improve in its ability to serve the high tech community.
Dr. Fred M. Haney
Private Investor and Venture Capitalist
Advisor to SpringBank Tech Ventures, Calgary AB, Canada
Founder:
3i Ventures, CA
Monday Club
Co-founder
Tech Coast Angels
California Technology Ventures
Business Development Management:
Scientific Data Systems, Inc.
Xerox Corporation
TRW, Inc.
Computer Sciences Corp.
Education:
Ph.D. in Computer Sciences
(Carnegie Mellon University)
Experience:
Venture Capital Investing
Turnaround Management
Fundraising
Corporate Strategy
Corporate Finance
Current Board Seats:
Rainbow Technologies, Inc.
Virtual Computer Corp.
Dolphin Search, Inc.
DXL, Inc.
Activities:
Member, Impact Roundtable
Member, Newport Deal Forum
Adjunct Professor, USC
Advisor to USC Entrepreneur
