Another nugget for you entrepreneurs out there from IE Business School’s event last month.
Bruce MacFarlane is co-founder and chief executive of MMC Ventures, a leading UK venture capital firm with £75m under management.
MacFarlane started MMC back in 2000. He previously worked as a lawyer, investment banker and part-time business angel.
After a few years of angel investing he became convinced that effective early-stage investing “could best be achieved through a high-quality deal flow, rigorous due diligence and active post-investment support”, according to the firm’s website.
While it’s an exceptionally tough environment out there for firms looking to raise funds, it does mean that venture capital firms that do invest are getting the pick of companies and can expect good returns.
MacFarlane’s preferred sectors are technology, especially clean tech; financial services (which may surprise some) and healthcare.
As for the MBA degree, MacFarlane says it’s an asset. His firm is currently hiring summer interns from LondonBusinessSchool and JudgeBusinessSchool.
His advice for people working on their business plans? “It’s got to be compelling; it’s got to be succinct. You’ve got to think about all the gaps… and then you’ve got to get out there and see as any people as possible.”
i thought i'd heard about mmc before (so many of these vc firms!) - i was sent info a few months ago about a fund they run for under-35 yr olds - investing quite small sums less than 10K - sounded like a good idea... just wish i had a spare few thousand to invest! macfarlane seems a pretty solid guy.
I can confirm that it is really international. My class has 15 nationalities out of 30 students and the average age is 30 years old.
from Jean-Patrick TSANG KWONG U
dude thats the point of VC -they take financial risk in new ventures but want a hefty return - don't take the money if you're not happy about it
Fabio Morella
also... which uk financial services?
Nathan Portman
never heard of a successful vc-backed firm where the success was divided fairly between owner and vc fund.
Nathan Portman
i thought i'd heard about mmc before (so many of these vc firms!) - i was sent info a few months ago about a fund they run for under-35 yr olds - investing quite small sums less than 10K - sounded like a good idea... just wish i had a spare few thousand to invest! macfarlane seems a pretty solid guy.
James Spencer