Bala Cynwyd-Based Osage Venture Partners has made its first investment during the coronavirus pandemic while making sure to still follow social-distancing guidelines, writes Michelle Caffrey for the Philadelphia Business Journal.
The firm invested $3 million into Malbek, after vetting the contract management software company remotely. It took Osage hours and hours of Zoom meetings combined with extensive reference checking to make the decision, but now the company is confident that its capital is in good hands.
“It’s just been a great process,” said Osage Managing Partner Nate Lentz. “The more we’ve gotten to know them and the business, the more impressed we’ve been.”
He added that the firm spent two to three times more hours than usual with the management team, “just getting to know them, spending time with them one-on-one and spending time with them as a team on Zoom, seeing how they interacted to get a sense of the culture, chemistry and dynamic.”
The firm also did twice as many personal reference checks, asking for three to five references for each of the co-founders as well as Malbek’s head of sales.
Read more about Osage Venture Partners at the Philadelphia Business Journal by clicking here.
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