The potential value a startup needs to attract venture capital (VC) funding can vary widely depending on various factors such as the industry, market conditions, growth prospects, team expertise, and more. However, as a general guideline, startups often need to demonstrate the potential to reach a valuation of at least $100 million or more within a few years to attract significant VC interest. This typically involves having a scalable business model, a large addressable market, a strong competitive advantage, and a capable team to execute the business plan effectively. It's important to note that these are rough estimates, and each VC firm may have its own specific criteria and expectations.

Feels like a burden – as soon as you make something ‘formal’ it can feel like a big responsibility that you don’t have time for. It certainly is more of a time commitment, but I think it also has the potential for clearer and better results.
More administration – there is more admin involved in making sure mentoring is being coordinated across an entity and followed up.
Long-term commitment in the midst of an uncertain future – I found it hard to enter into a two-year mentoring agreement when our work permit situation is so uncertain. It leaves me feeling worried that I won’t be able to fulfill my commitment to the mentee. (Maybe this is because another of my Gallup Strengths is ‘Responsibility’!)
Anxiety – it increases my anxiety levels – will I be able to help this person grow in the way that their supervisor / entity leadership is hoping?!
Partiality – does it look like I am showing partiality to one colleague by only being in a formal mentoring agreement with one of them? When informally mentoring I could mentor them all together and it didn’t matter if some weren’t making as much progress because there were no formal goals. That’s different now.