The RAISE Selection Process

RAISE 2019 is shaping up to be a transformational event.   This year, we are completely sold out. By “sold out,” I mean we literally can’t figure out how to put more people in the Golden Gate Club.  As of now, we have:

  • 167 Limited Partners
  • 163 General Partners
  • 101 funds with completed applications to present

We need to select up to 50 funds to present from the group of 101 applicants.  Because the event has become larger and more important, we have formalized this selection process.  Most importantly, we created a committee of seven people who have volunteered to review all the applications (click here to see the committee members).  Reviewing these presentations take a lot of time.  I would like to thank the committee for their efforts.

I thought it would be helpful to the community to be transparent about the selection process. Each fund that applies to present will have at least two committee members read their entire submission.  The reviewers were randomly assigned.  Then, each committee member rates the funds using a standard survey on the following factors:

  • Track record
  • Track record presentation
  • Competitive advantage
  • Value-add
  • Market opportunity

Using the data from the survey responses, each applicant is scored on a 100-point scale.  The Raise staff then allocates extra points to firms that have a diverse team, and that have applied in the past, but were not selected.  We want to reward persistence and do our part to address the lack of diversity in the industry.   Similarly, we will subtract points if a firm presented last year.  We want the event to feel new and fresh to LPs who come back year after year.

We also need to ensure that we have a wide variety of funds from a strategy and stage perspective.   The day will get boring if we do not have international funds, growth-stage funds, and thematic funds to complement the large number of Silicon Valley-based generalist seed funds that apply each year.   Therefore, we will sort the funds by fund type to ensure the day is entertaining and diverse.

Of course, there will be a number of funds on the bubble.  To make these difficult and subjective determinations, the selection committee will meet on April 25th to discuss the final selections.  In the end, the final decisions will be made as a group.

Looking through the applications, I am so excited by the quality and diversity of the funds that will present this year.  I am sure Raise 2019 is going to be an impactful day for both LPs and GPs.

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