About Us
MatchStar Venture Search is a boutique executive recruitment and placement firm that services the venture community and venture backed “A through C” round funded companies, primarily in the technology space. Our service model has been designed to help early stage companies manage through their specific life cycle challenges. We offer a research based search process (headhunting within specific domains), similar to large retained firm, while employing a contingency fee model. We have made every attempt to “de-risk” the process for the entrepreneur, VC, and company executive. You don’t have to make a large upfront financial commitment, spend hours of personal time managing a search process (which normally occurs even with a recruiter), or wait weeks to find qualified candidates. We provide an extremely high level of service, work closely with both the management team and or investors, and employ a unique filtering process to determine candidate fit. We currently have relationships with over 10,000 seasoned tech executives from a wide variety of sectors – all having at least 1-2 experiences working in a startup or early stage company. This proprietary network services as a deep candidate referral channel to supplement our target select headhunting process. Matchstar fills VP, Officer and Director level positions only.
In addition to our placement services, we connect early stage companies with potential funding sources. Matchstar has relationships with over 80 venture capital firms and a variety of private equity groups, while frequently serving as a source pool for new institutional investment opportunities. Matchstar also serves, via its Southern California affiliate, PIPE [Private Investment in Public Equity] placement services for small and microcap publicly listed companies seeking capital through a private placement. We have long-term relationships with over 120 institutional financing sources (primarily private equity and hedge funds) seeking investments between $5-$20 million. We bring a highly experienced professional team capable of raising capital very quickly, while providing a low fee structure, consultation, and coaching though the preparation, filing, road show, and investor relations steps in the process.
Our offices are located in the Washington, D.C. and San Francisco Bay Areas. We work on search assignments in all areas of the U.S., as well as Canada, Latin America, Europe and Asia.
Our Difference
Matchstar Venture Search was launched in 1999 to solve the problems most tech CEOs loath about retained search firms – expensive fees, large deposits, exclusivity, and long lead times. Additionally, the company addresses those clear inadequacies of contingent firms – absence of research, shallow “off target” candidate pools, and an inability to stand behind their work (in the case of a “replacement” search). We are completely focused on one space (VC-backed or Microcap tech companies – domain agnostic) and only fill VP, Officer, and Director level positions. As a result, we offer a very high level of service and deliverables. Here are a few reasons why we are the best choice for helping fast growth companies meet their growth challenges:
- Domain Expertise: We primarily work with high growth, VC-backed or Microcap tech companies. Since 1995, we’ve built solid relationships with the venture community and over 13,000 tech executives and managers. Our entire process is geared around an understanding of how early stage executives think, the milestones required to move to the next level, and long-term strategic and financial exits.
- Unique, Consultative Process: Our approach was originally developed to solve a number of common venture backed management dilemmas: a) lack of resources in managing the hiring process, b) the urgency of finding the right candidate in a short time frame, and c) the extreme setback of hiring the wrong person. Recognizing these issues, the Matchstar team personally develops a target candidate profile and set of interview questions customized specifically for each position. Clients can read the interview answers, written by each candidate, along with the resume, before deciding to interview the candidate. The interview questions are both achievement oriented and “behavioral” in nature. The answers provide a strong sense for how the candidate will fit into an emerging culture, build a team, communicate with board members, and manage stress as well as other inevitable problems facing most fast growth tech companies. Additionally, information is provided by the candidate regarding their current salary compensation expectations and reason for leaving their current position. A simple resume cannot communicate this level of depth. Many companies feel, as a result of our process, that they already “know” the candidate prior to the first interview.
- Speed: We have a 10,000+ candidate data base of executives who have done at least one fast growth tech company. The database serves as a preliminary source pool, as well as an incredible referral network. Our database is updated daily and grows on average by 100 candidates per week. As a result, we can begin presenting our top ten qualified candidates that meet your exact requirements 7-10 days of launching the search. This is rare in the search industry and a key success factor for those clients who do not have time or money to waste. Our proprietary network referral launch and headhunting process operate concurrently within the first month of an engagement.
- Flexible “Pay For Performance” Fee Model: Most of our service is contingency based allowing a company to manage its burn without dishing out two thirds of a retained commission months in advance of actually filling a position. Additionally, we provide a variety of discount programs based on criteria that include early invoice payment, multiple searches, funding rebates, etc. As has been communicated to us by countless clients, we provide a much higher level of service that is significantly less expensive than most search firms.
- Deal Flow Exchange and Funding: You can imagine how many companies contact us looking for funding, strategic partners, and M&A opportunities. We have over 80 VCs and private equity firms that have asked us to provide deal sourcing when available. We believe that sticking to our knitting in this space provides a great opportunity to help a venture community that acts as deal sources for us. Over the past few years, Matchstar has helped a number of companies raise tens of millions in early stage venture money. Additionally, we frequently help our clients meet potential customers, strategic partners, and service provides through our extensive network.
Our Unique Services and Terms
MatchStar offers a number of unique services to match the needs and constraints of entrepreneurs and high growth tech companies.
- Contingency and Retainer Based Services: We undergo a rigorous selection process which includes multiple senior management consultations, the development of a specific candidate profile criteria, and the creation of a “pre-interview” questionnaire. Data gathered on all potential candidates is derived from both historical and behavioral characteristics, as long-term employee success rates are influenced by a candidate’s ability to adapt to various corporate cultures and personality types. Within 7-10 days of launching the search, we will begin presenting our top ten qualified candidates. You will receive the resume and interview answers of each candidate. Interview answers are written in the candidates own words. Additionally, information is provided by the candidate regarding their current salary compensation expectations and reason for leaving their current position. We offer a hybrid fee structure, requiring a small deposit up front with full payment full after completion of the search. Our fees range from 20-25 percent of the first year’s total forecasted comp (base salary plus percentage of estimated commissions and or MIP bonus). However, terms can be flexible subject to speed of payment, size of deposit, number of concurrent searches and previous working history with Matchstar.
- Consulting and Commission-Only Based Services: Same service as above, only candidates agree in advance to begin working as a consultant and/or for commissions only. Payment to Matchstar is based on a monthly recurring percentage of the candidate’s income or commission structure, over a 12 month period. Fees are 20-25 percent depending upon payment terms.
- Venture Funding Services: Upon signing our Investor Services Agreement, we will initiate the process of actively marketing your company to potential venture/PE firms. Step 1: We will provide you a list of those institutions who have asked us provide opportunities that match their specific investment criteria. Step 2: You review the list and indicate those firms that you do not wish to contact. Step 3: Matchstar begins making introductions. 4) We will follow-up with the investors to gage interest, obtain feedback, and help set up meetings. 5) You formally take over the process with the respective investor. Any transactional fees collected as a result of a successful funding can be used as a credit towards future searches.
Confidentiality
MatchStar works on the highest ethical principles, keeping all search and company information confidential. Candidates sign a confidentiality agreement before interviewing with a client. The fees, terms, and scope of our services are clearly defined at the onset of an engagement.
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