FIRST ROUND

Venture capitalists beware: you and your firm may end up on a new website called The Funded.com next to some pretty unflattering user comments.

Users can search and browse venture funds based on region or funding level, and members can edit and add funds and partner info. Members who have interacted with certain firms can rate them on a scale of 0 to 5 in terms of track record, operating competence, pitching efficiency, deal terms and execution assistance. Members can also post comments about fund and partner performance, and contribute to the “agree” or “disagree” tallies that appear with each comment. Membership is limited to entrepreneurs, a status that must be applied for, or obtained through an invite from an existing member.

Certainly, some The Funded members write glowing reviews and kind comments about their experiences with various VC funds. Titles of recent postings include “Awesome Potential”, “Very Smart”, “Real Professionals” and “All value no BS”.

Then there's the other side of the fence. A sampling of posts from less satisfied entrepreneurs includes titles like “Better Deal for Soul with Satan”, “Old School with a decision making problem”, “Some great people, some time wasters” and “Venture Capital not their specialty”.

The blogosphere has been quick to point out that the unhappy camp is likely to have a louder voice on the site. After all, it is the entrepreneur who has been scorned – as has the site's anonymous founder – who will have greater motivation to post scathing comments.