TheFunded offers up documents to EDF's lawyers with a smile

Adeo Ressi, founder of TheFunded, an acerbic site where entrepreneurs review venture capitalists, dropped by the office of McDonough Holland & Allen the other day. That law firm represents EDF Ventures, which is the VC firm that's to be avoided unless you're "desperate," according to TheFunded's users. EDF is suing in order to reveal the identity of a critic who posted a poor review of the Michigan-based fund for misrepresentation. A common practice among VCs embarrassed by bad reviews. More »

Michigan VC firm sues anonymous commenter

Venture capitalists are rigorously image-conscious — and laughably bad, for the most part, at keeping up appearances. Take EDF Ventures, an obscure Michigan VC firm, which may well have gotten a bum rap on TheFunded.com, a VC-ratings site. After issuing a subpoena to find the identity of the entrepreneur who said the VC firm was "to be avoided unless you are desperate," it has now filed a lawsuit against the anonymous commenter. "If someone lies about you, it isn't right," says Mary Campbell, the firm's founder. More »

"Desperate" VCs try to squeeze TheFunded.com

Michigan-based venture capital firm EDF Ventures issued TheFunded.com a subpoena, asking the VC-ratings site to ID a commenter who wrote that EDF is "to be avoided unless you are desperate.” VentureBeat has a copy of the subpoena. TheFunded CEO Adeo Ressi told entrpreneurs their bitchiest secrets are safe with him. Said Ressi: "TheFunded does not store IP addresses, email addresses, or any other personal information associated with a Member account in any database or any file system operated by the company." Funny, before this, we'd never even heard of EDF Ventures. Now they've established what the PR people call messaging: EDF is an obscure VC firm known mostly for being touchy and litigious. To be avoided unless you are desperate. More »

TheFunded hopes the bridges aren't burned

Adeo Ressi hates venture capitalists. His disdain has always showed on his site, TheFunded.com, where wantrepreneurs slam VCs with anonymous posts. Now Ressi hopes the sides can make amends on TheFunded's new ad-supported matchmaking service. [San Jose Mercury News]

Wired in 1,200 words

Wired 15.12 comes in at two pounds, half the weight of a September Vogue. Most of it's the water weight of ads and a shopping guide, and I've summarized the meat of the issue in 1,200 words, so now you don't need to pick it up and risk ergonomic injury. More »

Entrepreneurs to VCs: Stop sharing my ideas!

The anonymous entrepreneur behind VC-rating site TheFunded.com put together a memo telling Sand Hill denizens how to "be a better VC." In short, it's a list detailing the most common complaints users of his site make about venture capitalists. We got our grubby little hands on a leaked copy. The lessons? Entrepreneurs want a better communication, firmer answers, and for VCs to want them for their companies, not their business secrets. The biggest complaint? That VCs regularly leak business plans and confidential documents to other startups, even potential competitors. We ask: Is this really a new phenomenon? VCs are typically exempt from non-disclosure agreements, something entrepreneurs should always keep in mind. The threat of an idea leak seems to be the price to pay for the pleasure of doing business with Sand Hill Road. Is the shocking part that VCs "cross pollinate" the competition using ideas swiped from pitching startups? Or that some entrepreneurs are such dumbasses that they're surprised by it? After the jump, TheFunded's full list of ways to be a better VC. More »