After having being introduced via email to a certain VC company, they've responded and requested to setup a meeting with our company. They're asking us to pay for the meeting. Is this normal?
As others have said, no, never pay. BUT, if I were you, I'd clarify with them that they are asking you to pay for a meeting. I've heard of people charging for pitch-events, but never for a meeting.
I know of one angel group that charges a menial fee to start-ups to pitch and that money literally goes to the cost of renting the hosting facility, coffee, muffins, that kind of thing. I know that seems super strange, but that is how they do it. I think it's like $30/pitching company, and you have to get invited. I think they do 7 or 8 companies a month.
At the same time, other events will charge $300+ to pitch VCs, and that is just somebody trying to make a profit.
So I'd take the extra two minutes to clarify what you're paying for and why. Who knows what they'll come back with.
Thanks for the further info... I'm waiting on an email response from them. It was an introduction from a successful entrepreneur who wanted us to speak to this particular VC company. Upon introduction, was hit up for BTC... I'll let you know what the end result is. Appreciate the feedback though!
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[ 4.2 ms ] story [ 46.5 ms ] threadI know of one angel group that charges a menial fee to start-ups to pitch and that money literally goes to the cost of renting the hosting facility, coffee, muffins, that kind of thing. I know that seems super strange, but that is how they do it. I think it's like $30/pitching company, and you have to get invited. I think they do 7 or 8 companies a month.
At the same time, other events will charge $300+ to pitch VCs, and that is just somebody trying to make a profit.
So I'd take the extra two minutes to clarify what you're paying for and why. Who knows what they'll come back with.