Comment on [TechCrunch Beijing] Pat Gallagher, General Partner of CrunchFund, Talked about Seed Fund and MarketFit by Why IDG Taking Bold Bets on Post-90s Gen Entrepreneurs: IDG Founding Partner Hugo Shong | TechNode

['Ruomu Wu', '.Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow', 'Class', 'Wp-Block-Co-Authors-Plus', 'Display Inline', '.Wp-Block-Co-Authors-Plus-Avatar', 'Where Img', 'Height Auto Max-Width', 'Vertical-Align Bottom .Wp-Block-Co-Authors-Plus-Coauthors.Is-Layout-Flow .Wp-Block-Co-Authors-Plus-Avatar', 'Vertical-Align Middle .Wp-Block-Co-Authors-Plus-Avatar Is .Alignleft .Alignright'] Comments for TechNode 2014-08-12 00:00:00

Pat Gallagher, General Partner of CrunchFund and previous partner of venture capital firm VintagePoint, joined Lu Gang yesterday afternoon at TechCrunch Beijing to talk about his experience as a VC coming from the Silicon Valley. The very first thing Pat pointed out is the seed fund difference between now and 15 years ago in the Silicon Valley. While VC started to shift seed fund to 1 to 2 million dollars per investment, it would cost about 5 million dollars 15 years ago. Pat also described the benefits of having crowd-funding platforms such as KickStarter and IndieGoGo. “[These platforms] are for people to put their idea out there and to see if there is a market for it.