Fortune’s Primack: No VCs said they’ve heard from Schilling
May 29th, 2012 at 12:10 pm by Ted Nesi under Nesi's Notes, On the Main Site
Dan Primack, the plugged-in M&A reporter who writes Fortune magazine’s Term Sheet newsletter, adds some fascinating context in today’s edition about 38 Studios’ lack of success with private investors, particularly in light of Curt Schilling’s Providence Journal interview (emphasis mine):
Two notes: (1) Who scared off private investors in 2007 and 2008, when Schilling was seeking $30 million (and then more) to get the company launched? Remember, this is a gaming startup that never raised a dime in traditional venture capital. From a story I wrote at the time: “VCs I’ve spoken with say that an investment would require quite a bit of “babysitting.”
(2) Who exactly did Schilling even reach out to, to learn that they were scared off? I’ve spoken with half a dozen local venture capitalists – all but one of whom heard Schilling’s initial pitch years ago. None of them even got a call this time around. Maybe I’m naïve, but don’t you ring up every single person in your Rolodex before laying off 300 employees? Who cares what the governor said? Professional investors can do their own fiscal due diligence. Unless you know it’s a lost cause, and are simply looking for a scapegoat…
Primack expressed his views even more bluntly on Twitter: “Curt Schilling is full of it. Lincoln Chafee scared off private investors? Who scared them off in 2007 Curt?”
• Related: Schilling, UBS i-bankers shill for new 38 Studios investors (July 13)
Tags: 38 studios, curt schilling, dan primack, fortunes
Nesi's Notes covers politics and the economy in and around Rhode Island for WPRI.com. (Twitter: 
Curt Schilling never went to venture capitalist for money. Now it is time to find out who encouraged him and most likely got a finders fee for this deal from Rhode Island needs to be named, proscuted and jailed. Why do I think it is coming out of the legislative branch of the Rhode Island government.
Ted keep up the goodwork! Please start sniffing around the Speaker of the Houses office. His sister can’t pass enough bad money to cover a $100 million in debt.
He takes millions in hard working taxpayer money and then has the gall to blame us for the companies failure. Man up Curt and admit YOU failed your company and apologize to all the hard working Rhode Islanders that are now stuck with YOUR bill!
I’ve been exploring for a little bit for any high quality articles or weblog posts on this kind of space . Exploring in Yahoo I eventually stumbled upon this web site. Reading this information So i am glad to exhibit that I have an incredibly good uncanny feeling I discovered just what I needed. I most indubitably will make certain to don?t omit this site and provides it a glance on a continuing basis.