Start-ups feel the heat as venture capital dwindles - LA Times

Jason Fritton

Patch of Land

Patch of Land Chief Executive Jason Fritton has adjusted his investor presentation because of a changing fundraising climate, but he remains confident his company will secure fresh capital.

Patch of Land Chief Executive Jason Fritton has adjusted his investor presentation because of a changing fundraising climate, but he remains confident his company will secure fresh capital.

(Patch of Land)

Paresh DaveContact Reporter

On the fundraising trail this month, entrepreneur Jason Fritton is getting an unusual question from venture capitalists: How soon can you produce profits?

Making money quickly was rarely a demand during a near-record influx of start-up capital, with investment into U.S. start-ups rising to almost $60 billion last year from $30 billion in 2013. Fast-growing companies such as Uber Technologies Inc. and Snapchat Inc. saw their bank accounts generously stocked as they prioritized rapid worldwide expansion over profits.

via www.latimes.com