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Savvy Spending

An entrepreneur makes the most of his VC by spending wisely and thinking strategically.

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This story appears in the November 2006 issue of Entrepreneur. Subscribe »

As a venture capitalist, Martin Tobias knows a thing or two about spending wisely. As chairman and CEO of Seattle-based biodiesel firm Imperium Renewables, Tobias, 42, is focusing spending on two things: landing large customers and signing leases to spur growth. "We've used our money to go after the biggest customers we could imagine," he says.

But that's only half the story. The 2-year-old company is conserving its $10 million in venture backing by taking on some project debt while relying heavily on traditional accounts receivable and accounts pay-able inventory financing. Such moves have "made the equity dollars go a lot further," Tobias says.

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