The TOTAL ACCESS team was out in New York City last week, hosting events for some of the Big Apple's most dedicated entrepreneurs.  Despite the cold and snow, we had a full house for our panel event discussing industries and markets for 2014 – more specifically, where the NY Tech scene was headed.

The panel of investors for this event included Jordan Bettman from Bain Capital Ventures, Eliot Durbin from BOLDstart Ventures, Spencer Lazar at General Catalyst Partners, Micah Rosenbloom at Founder Collective, and Adam Rothenberg from BoxGroup.  The event was moderated by our very own David Concannon.

Investors and entrepreneurs are always keeping an eye on trends in the market, hoping to create or find the next big thing.  While there are certain verticals and markets that are currently doing well, the investors shared some great advice for founders and those starting or building a company.  One theme was clear throughout the discussion and that was, having a great team, building in a big market, and showing clear value and solving a pain point, are the key recipes to a successful company (and locking in funding).  It doesn't matter what trend is currently on the rise, as long as your business possesses those key components, you're well on your way.  Here is a summary of the investors, their funds, and what they're looking for when it comes to investing in a company.

  • Spencer Lazar / General Catalyst Partners – In the next 12-18 months, they'll be looking more closely at the local market for companies that are focused in software powered marketplaces – companies where the sell side really runs businesses through the entire platform.
  • Eliot Durbin / BOLDstart Ventures – They're an early seed stage firm so they're particularly interested in companies where they can invest as an early partner.  The firm itself is interested in companies that are 1) SaaS 2.0 – businesses that build from the mobile up 2) Smart Data – big data is the past, we have a lot of data now, but companies figuring out how to analyze and actually use that data to their advantage is key and 3) Consumerization IT – lots of enterprises want to run their IT infrastructure like Google; fast, scalable, nimble, on demand, and can test without large costs.
  • Micah Rosenbloom / Founder Collective – Think of an upside down pyramid with the base at the top, these guys are all about that broad base.  They invest in a wide range of companies and verticals and believe that opportunities can come in any form or shape.  If they come across a compelling team and product and the firm has conviction in them, they'll give them a chance.  As a seed fund, they need to be able to see tangible products.
  • Adam Rothenberg / BoxGroup – They recently found great success with a Real Estate SaaS company so are experienced in this area.  However, shipping and logistics companies are one of their biggest focuses.  They see big opportunities in a large market in this sector and are also highly interested in companies where mobile and tech change the behavior and activities of individuals (i.e. Uber, remote controllers from phones, etc.).
  • Jordan Bettman / Bain Capital Ventures – FinTech is their focus.  The firm has been exploring Bitcoin and find it a fascinating space.  As of date, the firm doesn't have a Bitcoin company in their portfolio, but they think it's a really important market and one to continue exploring.  Regardless of the industry, Bain Capital Ventures believes that a strong team, good idea, and the "it" factor, heavily impacts their decision making to invest and it has been challenging for them to find this composition in the Bitcoin sector.

As Spencer mentioned, it's not really about what's hot right now, but rather what's hot two years from now.  Entrepreneurs need to remember that it's about how you're positioning yourselves to get to where you want to be, so when the set comes in and the surf rolls in, you have to find the wave, pick the right time, and stay on the board.  That's what investors are looking for.  Not what everyone else is looking at.

To watch the video in its entirety, see below.

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