Correction to Mint.com Story; Shout-out to Felicis Ventures

I made a boo-boo on the recent Mint.com I wrote for BW. Turns out that Baseline Ventures did not invest in Mint.com. Ron Conway personally invested in the company as he was forming Baseline. However, Conway is no longer part of Baseline, Conway tells me via email. Over the summer, he started a sister investment firm called SV Angel LLC.

Credit to Aydin Senkut of Felicis Ventures for pointing out the error. Senkut says the organizer of STIRR, the networking event for entrepreneurs where Mint.com founder Aaron Patzer met First Round Capital co-founder Josh Kopelman, also referred Senkut to the deal after Senkut introduced Patzer to Conway and Paul Buchheit.

Buchheit is a rising star in the Valley, having coded Gmail as the 23rd employee of Google, coining Google’s “Don’t be evil” motto, and then co-founding social network aggregator FriendFeed, along with three other former Google employees. In August, Facebook acquired FriendFeed.

In other news, Senkut tells me that things are also going swimmingly well for this new firm. “Mint is my fifth exit in less than 4 years, allowing me to have a positive annualized IRR that’s right below the second highest in Cambridge Associates venture return study in 2008 (my firm was not included but it’s comparable),” writes Senkut. Way to go Aydin!

Tags: , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: