Bain Capital Ventures led a $4 million investment round in the New York financial tech startup OpenFin. The deal was announced Wednesday, but the connections that made it possible date back more than three years.
Speaking during a panel discussion shortly after the deal went public, Bain Capital Managing Partner Matt Harris said far too many entrepreneurs don't put that kind of long-term, consistent effort into their relationships with potential investors. OpenFin founder Mazy Dar met with him about 10 times over the course of seed funding rounds and their time in the FirstGrowth Venture Network accelerator. As a result, the deal was fairly easy once it came time for a bigger round.
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