GrayHair Venture Partners: FAQs for legal tech founders

Since my post about GrayHair Venture Partners (“GHVP” or “GrayHair”) a few days ago, I have received multiple inquiries from legal tech founders.  Here are the answers to some of the FAQs:

• —Our focus is legal tech and related verticals.  If the product you are building has a use case for legal (which is not completely fanciful or tangential – no, a new version of a stress ball is not legal tech, even if you intend to sell it to lawyers 😀) or a hybrid between legal tech and another tech vertical, we would be interested in taking a look at it.
• —Some ideas are more investable than others, but we aspire to add value to the ecosystem – even if we decide not to invest, we will provide constructive feedback, point you in the direction of some domain experts in our network, and may suggest alternative financing sources.
• —Our investment process takes into account both quantitative and qualitative factors, but, in assessing prospective portfolio companies, the weight we assign to a “warm intro” is essentially zero.  If you are building a product that you believe may be of interest to GHVP, reach out to me directly here on LinkedIn, and I will provide you with an email address to send the materials to.  We understand that working on the product is a much better use of the founders’ time than scouring LinkedIn connections to see who knows whom.
• —We aim to make decisions quickly.  However, we will ask a fair number of questions and will review documents. Having a clear presentation and a well-organized data room will help tremendously.  If we do not have the time to do appropriate due diligence, we may have to pass on the opportunity, but we will remain open to discussing round extensions or future rounds.
• —“Ghosting” is not part of our DNA.  Unfortunately, all kinds of things happen with technology - messages get accidentally deleted, get caught by spam filters, etc. If we have not responded to your message, please follow up or leave a comment under one of the posts, and we will revert. If we are not interested, we will respectfully let you know.

If there is anything else that you wanted to know about GrayHair Venture Partners, please send me a message, and I will do my best to respond asap.