The Truth about Venture Capitalists.

The web, the great equaliser has finally come up with a way for us life-giving entrepreneurs to anonymously comment on the people who could/should/do fund our follies. It's called "The Funded" and has been set up by Mr. Anonymous him/herself.

Here's the thinking behind the site: "First, fundraising is far too time consuming for the entrepreneur, wasting valuable time required to grow the business. Second, the fundraising process is often like speed dating with a long-term relationship at the end, and you split the proceeds. Everyone puts their best face on, and it is only when the deal is done do you get to see the real value, if any. I have personally been burned, and so have many of my friends. So, I set out a guide to help entrepreneurs find the perfect funding source for their business. Imagine if you had a comprehensive database of funding sources with practical insights from entrepreneurs who have dealt with the funds..."

Apart from a great resource to search for funds, it's rapidly becoming a community and some of the more adventurous funds are even posting job adverts on it. There are over 3,600 funding firms on there, with around 40 in Asia.

Before your rush on over, be warned. It's tough to become a member; you have to be invited by an existing member and then apply. 33% of the 1,500+ applications received to date have been rejected.