Two in One
Finding an investor is great. But finding an investor who's also a mentor? Now you're talking.
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The fact that investors bring much-needed capital to start-upsis a given. The fact that investors can bring even more vitaladvice and business guidance to start-ups, however, is lesswell-known. But for Kevin Chang, 40, and Larry Mana'o, 39, ofDetto TechnologiesInc., a provider of data and customized settings migrationtechnology, bringing in investors meant bringing in mentors to helpgrow their business.
The Bellevue, Washington, entrepreneurs made a first round offunding in 1999 and 2000, during which they sought traditionalinvestments. Then in the second round, explains Mana'o,"We were looking for investors who [could provide] a morepractical [approach] and a reality check in terms of thebusiness."
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