A while back, Pangaea General Partner Keith Gillard wrote a blog about our proactive approach to generating dealflow and evaluating potential solutions to identified market needs (found here). A consequence of this proactive strategy is that we interact with a whole lot of startup companies from around the world. While the majority of these companies are attempting to commercialize exciting materials technologies to solve some of the world’s bigger problems, we tend to be quite selective in where we place our money. For a typical VC, the percentage of companies invested in compared to companies evaluated is 1% or less. There are many reasons for this, ranging from a lack of confidence in the management team’s ability to execute to technology differentiation to IP concerns to expected long time horizons to revenue generation and possible exit.