In working with entrepreneurs throughout North Carolina over the last 20 years, I have always heard about the FOMO of angel investors and venture capitalists described like this….While investors hate losing money in a startup deal that doesn’t work out, what they REALLY hate is looking foolish by missing the winning startup deal in their backyard when there is an IPO or an acquisition. (FOMO is the Fear of Missing Out.)
Well, most local people who could have invested in the early days of nCino did not get in on the closely held deal. You can tell the ones who did by the smiles on their faces since the IPO in July had the largest one day increase of an opening day stock in 20 years.
I have heard the regret of investors that missed out on NextGlass/Untappd and PlayerSpace before they recently had successful private equity deals and acquisitions.
I think it is safe to say that the Wilmington investor community has been conservative. Read more about the Wilmington startup scene and RIoT’s involvement at WilmingtonBiz.