The following blog is from our own Thomas Rankin, better known to some as @RANKINTHOMAS. It first appeared in his personal blog, IMPOSSIBLE CONFIDENCE. We are reposting it here with his permission.

Micro-VC funds like Innovacorp do a lot of seed deals. Our belief is that by doing many smaller investments (~$250k) across diversified ideas and technologies, we will maximize our chances of success. Dave McClure has written about HOW MICRO-VCS GENERATE RETURNS if you would like a more in-depth (and rambling) explanation.

Doing many deals means working with many founders of different types (geeks, sportos, motorheads, dweebs, dorks, etc). The commonality is that most are new to funded life and struggle to figure out how to operate as a startup under the watchful eye of investors and advisers.

It is my unwavering belief that micro-VCs have to do much more than deploy and manage, they need to dig in with each individual founder and help them get quickly up the curve. Because of the speed at which startups (and new media companies, in particular) must execute, there is little time for learning the ropes.

Hence, here are five [5] things every good micro-VC should do for you, its founders:

[1] KISS
Keep it simple stupid. We shouldn’t overburden you through the investment due diligence and closing process. We are building something based on a crack team and a cracked idea. Let’s get on with it.

[2] Pre-Package It
We should have sets of docs (employment agreements, IP assignments, ESOP plans, patent disclosures, board pack models, etc.) ready to go so you don’t need to get obliterated by legal fees and kill time searching for models. Wasting time and money in the light-cycle battle [TRON REF!] of startupdom is death.

[3] One All-Star Mentor
Any good micro-VC should be able to find you one all-star mentor. This is a person who is top of their game in whatever you do. They are essential. Accept nothing but the best.

[4] Uncut Straight Dope
You should accept absolute brutal honesty from your micro-VC. We are moving quickly together and have no time for niceties. If they are on your team, and you trust one another, this straight dope will be invaluable.

[5] Feed You
Your investor should feed you. Literally. Food, good food and lots of it. The micro-VC always pays.

At Innovacorp we also do things like help you hire, find you office space and get you noticed. We’re no A16Z, but we’re trying.