Chris Nguyen / June, 2018
What is it like being a foreign founder raising funding in Silicon Valley?
Chris Nguyen, CEO, and Co-Founder of LogDNA is from Canada and moved to Silicon Valley to build LogDNA in 2015 when they were accepted to the accelerator Y Combinator. In this video, he shares how he raised venture capital investment in Silicon Valley.
What differences are there being a foreign founder raising funding in Silicon Valley?
My background originally from Canada, moved here 4 years ago. I think it doesn’t matter if you’re a foreigner or not it’s just the network that you tap into that is easier available. I was able to tap into a lot of former Canadian expats that lives here that opened a lot of doors.
I think to find funding what helped out a lot was that I looked at my university, whom I went to school in Canada with, former colleagues. We came from an accelerator called Y-combinator that opened a lot of doors to get access to capital.
The capital is definitely there and so can you network and find the right strategic investors that apply to your business. That helped out a lot.
There is a huge benefit to being here. Primarily there are so many investors across the board in different niche categories in different areas of focus. They are all condensed in the valley. Whereas if this was back home this would be more space out, far between investors.
I think there is a huge advantage in doing fundraising in the Valley. People think bigger. People think much bigger in terms of opportunity and possible exits. I do like that energy and that big visionary thought process.
The advantage of being a foreign founder is that there are great examples of foreign founders from Canada or any country, where they can see ‘Great, here are three other awesome companies that are also Canadian’. It places that benchmark with the reputation where you don’t have to be from the Valley, but there is great reputation from across the globe in terms of great entrepreneurs, all walks of life, all from different countries. They all can raise money.
All of my friends are all from everywhere, Germany, London, Australia. It is nice to see foreign founders being able to raise capital to work on their startups.