One of my best friends just notified me that the funding for his new start-up company pulled through. He managed to raise a cool figure (over 1M) in what seemed to be a process that lasted forever.

Regardless of the hassle of going through such a process, I think it’s quite amazing that this deal went through. As I was actively involved in the back and forth negotiations, I have to say that this was not an easy deal. There were times when my friend actually stopped the negotiating process, knowing that if he agrees to whatever is proposed will not allow him to feel comfortable about the situation. Just goes to show you never to give up. It’s true that my friend approached quite a few VC’s until he finally hooked up with the investor (a significant angel investor none the less), but the result was that a team was created that now really has a chance of making it big.

There were times when I advised my friend to go seek new funding opportunities and leave this angel be. There was one time when I got so mad at him for lagging the process and excepting things I would never accept, and I am sorry for that meeting. He insisted that he believes in this match-up, hardships and all.

This investor, who shall go nameless, already has in his pocket one major success, being the former CEO of one of Israel’s leading companies, decided not only to fund the new venture, but also to be an active part of the decision making process. I wouldn’t say that he will be the company’s CEO, but he will definitely not sit on the sidelines and wait for his money to grow.

This is what I like. Investors who are not afraid to dive into the water together with the entrepreneur are very hard to come by. While most entrepreneurs think they know it all, and that if someone only gives them some cash they can conquer the world, the best entrepreneurs are the ones who know what they are good at – mostly it’s a vision or some kind of technical ability. Not everyone with a potentially good idea is necessarily the next Steve Jobs.

Congratulations, dear friend (I know you are reading this) – I was wrong, you were right. Here’s to you brother :-)

Doron