Finance & DevelopmentFinanceStartup Investing Offers More Than Dumb Money

Startup Investing Offers More Than Dumb Money

As managing director of Thayer Ventures, a venture capital firm focused on hospitality technology and backed by one of the Thayer Lodging Group funds, Chris Hemmeter has seen hundreds of startups come and go. He’s laser-focused on staying ahead of trends and spotting new business opportunities while there’s still plenty of upside. “In 2009, I had this thesis that the hospitality industry, which is very large as you know, had been slow to adopt innovation and technology in comparison to many industries,” says Hemmeter. “Having a venture capital firm specifically focused in early stage investing in the sector made a lot of sense to me because this is a unique industry.”

But instead of just handing over a pile of cash and promising to check in later, Hemmeter sees Thayer Ventures offering a service that helps startups with business development, sales, and strategy. “Good entrepreneurs are looking for strategic capital and, more than anything else, they want help open doors,” he says. With an advisory board that boasts industry giants like Starwood Capital’s Barry Sternlicht and Robert Alter, founder of Sunstone Hotel Investors, Thayer Ventures is positioned to find investment opportunities before anyone else. The firm often asks Lee Pillsbury to sit in on startup pitches so they can leverage his deep industry knowledge. Hemmeter notes, “He just has a ton of value as a strategist and a is real visionary.”

“And now we’ve found that, because of our positioning, good entrepreneurs are finding us,” says Hemmeter. “We’re also being brought into deals by other venture capital firms because we have a strong opinion on maintaining a small fund footprint.”

Hemmeter says Thayer Venters remains focused on early stage investing in small fund dynamics partly due to how inexpensive it is to build companies today, especially in the B2B space. “You get into some early stage investment of B2B companies, and they’re not seeing the sort of crazy evaluations that you see with B2C companies. In these cases, we can really get in and influence businesses and own significant stakes in those companies.” – SD

RELATED ARTICLES

New Pyramid Global Hospitality COO Continues Focus on Big Data to Benefit Owners

Pyramid Global Hospitality Chief Operating Officer Eric Habermann retired in April following seven years with the company and a nearly 40-year career in hospitality....

Grand Hyatt Kauai Resort & Spa Launches Scholarship Program

Grand Hyatt Kauai Resort & Spa, a 605-room resort, announced the launch of a scholarship program to support the continued education of its colleagues...

Hilton Surpasses 500 Hotels in Florida

MCLEAN, Virginia, and MIAMI, Florida—Hilton announced a major milestone as the company surpassed 500 open hotels across Florida. This growth was fueled in part...

Hunter Hotel Advisors Brokers Sale of Residence Inn Detroit Novi

ATLANTA, Georgia—Hunter Hotel Advisors (Hunter) announced the successful sale of the 107-key Residence Inn Detroit Novi. Spark GHC purchased the property from an institutional...

PMZ Realty Capital Arranges Loan for Hampton Inn Marysville

PMZ Realty Capital LLC announced that it has secured a $5.3 million loan for the Hampton Inn Marysville, located in Marysville, Ohio. The loan...

LivAway Suites Breaks Ground on New Property in Tucson, Arizona

SALT LAKE CITY, Utah—LivAway Suites announced the groundbreaking of its newest property in Tucson, Arizona, which marks its fourth in the state over the...