Beyond the Chequebook: Your Choice of Investors Can Make or Break Your Startup The co-founder of Vertice is here to debunk the myth that an investor's value is determined simply by the amount they invest. Having founded and exited ScanSafe and Wandera for a combined $600M, he's well-versed in the world of investors.

By Eldar Tuvey Edited by Patricia Cullen

Opinions expressed by Entrepreneur contributors are their own.

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"My advice to fellow entrepreneurs is to choose VCs and angels with extreme care. As a third- time founder, the notion that an investor's value is determined simply by the amount they invest is dangerously misleading. You need investors who will truly have your back, especially when challenges arise- whether it's an internal issue like staff retention or external pressures from tough macroeconomic conditions. If your investors are only in it for a quick flip and don't take the time to build a genuine relationship or deeply understand your business so they can offer meaningful support, advice and even practical help, you'll find it far harder to create a successful and resilient company.

When evaluating potential investors, get a sense of their reputation in the market from other investors and founders. Ask yourself: Do they negotiate in good faith? Do they understand your space, dynamics, and challenges? Do they provide some insight to you or just hoover up your intel for their own gains? These are crucial questions to consider. The financing process takes a while and involves many steps. As you go through the process, consider the following: do they do what they say they will do? Are they helpful? Do they understand your space? These are all signs that an investor is a good fit.

If your investors are only in it for a quick flip and don't take the time to build a genuine relationship or deeply understand your business so they can offer meaningful support, advice, and even practical help, you'll find it far harder to create a successful and resilient company. We found out which investors were standing shoulder to shoulder with us when we had a buyer for our company pull out at the last minute. We've also seen an investor's value first hand when they roll their shirt sleeves up and get stuck in to help fix issues, recommend talent and vouch for us in partnership discussions.

With decades of experience scaling SaaS companies, my top advice for fellow entrepreneurs is straightforward: nothing beats staying the course.

Never, ever give up. Stay persistent, work hard, and eventually, things will fall into place."

Eldar Tuvey

Co-founder of Vertice

Eldar Tuvey co-founded Vertice, a platform focused on SaaS purchasing and expense management. His prior ventures include Wandera, a mobile security company acquired by Jamf in 2021, and ScanSafe, which was acquired by Cisco in 2009.
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