Been There, Done That Growing an entrepreneurial empire? Turn to the big names in business if you need help.
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Obtaining funding in today's economy remains difficult, buta small group of companies has hit a jackpot: They've linked upwith VC funds founded by mega-entrepreneurs like Ben Cohen of Ben& Jerry's fame--men and women who can provide youngbusinesses with a double dose of capital and managementexpertise.
Cohen is hardly the only entrepreneurial superstar to start avanity venture fund. Howard Schultz, founder of Starbucks, is amajor investor in Maveron, a fund focusing on retail companies thatshow breakout potential. And Frank Biondi, the chief executive whohelped turn Home Box Office into an international powerhouse, hasco-founded Waterview Partners, a fund focused on media andcommunications companies.
Many of these entrepreneurs are looking for businesses that havethe same qualities that made their own companies successful."We search for entrepreneurs who already have a segment oftheir market staked out and are interacting closely with corecustomers," says Chuck Lacy, president of Cohen's TheBarred Rock Fund.
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