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Ask the VC

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Startup founders -- this is your chance to get real answers to your real questions.

When you're seeking VC funds, it boils down to: What are venture capitalists really looking for -- and how can you show them you've got it?

In this presentation, Sean Foote, Founder and Managing Director of Co=Creation=Capital, and Gadiel Morantes, Chief Revenue Officer with Early Growth Financial Services discuss:

- What questions VCs will ask
- How to impress VCs
- Questions you should ask potential investors
- What NOT to ask investors

Co=Creation=Capital: Entrepreneurs + Money + Management = Co=Creation=Capital - because startups need all the help they can get!

EGFS is an outsourced financial services firm that provides accounting, CFO, tax, and valuation services and support to companies at all stages of the development process.

Startup founders -- this is your chance to get real answers to your real questions.

When you're seeking VC funds, it boils down to: What are venture capitalists really looking for -- and how can you show them you've got it?

In this presentation, Sean Foote, Founder and Managing Director of Co=Creation=Capital, and Gadiel Morantes, Chief Revenue Officer with Early Growth Financial Services discuss:

- What questions VCs will ask
- How to impress VCs
- Questions you should ask potential investors
- What NOT to ask investors

Co=Creation=Capital: Entrepreneurs + Money + Management = Co=Creation=Capital - because startups need all the help they can get!

EGFS is an outsourced financial services firm that provides accounting, CFO, tax, and valuation services and support to companies at all stages of the development process.

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Ask the VC

  1. 1. 1 Ask the VC! #AskTheVC Sean Foote Managing Director Co=Creation=Capital Gadiel Morantes Partner EGFS
  2. 2. 2
  3. 3. • Who is the buyer and who is the seller? • Picking a VC • The VC mindset – how do these weirdos’ brains work? • What do VCs look for? • The VC process – why does it take so long? • What makes for a great VC meeting? • Lots of other questions you have… 3 What do you want to talk about? www.CoCreationCapital.com
  4. 4. Buyers and Sellers • A deal is a fundamental disagreement about value – Buyers think things are worth less, and tend to minimize price – Sellers think things are worth more, and tend to maximize price • But, Venture investing is not a zero sum game – A long-term relationship, like a marriage • Pick investors that suit you, know your space, invest at your stage, etc. 4www.CoCreationCapital.com
  5. 5. The VC mindset • VCs are rational • VC is not “risk capital” – The idea is to minimize risk and maximize outcomes of investments • VCs particularly care about your company if it: – Generates economic value – Provides good cocktail party conversation – Allows them to raise another fund 5www.CoCreationCapital.com
  6. 6. VCs *need* homeruns • VCs *need* homeruns – To return 18% annual net to our investors, we need 30% annual gross return – 30% gross return is 5x in 5 years for the entire portfolio • Out of 10 companies – Half go bankrupt (5 * 0x) – 4 break even (4 * 1x) – 1 remainder must be 46x in 5 years • If it takes 3 years longer, must be over 100x! 6www.CoCreationCapital.com
  7. 7. What do VCs look for? • Typical answer: a laundry list of business school type issues: – Great teams, defensible technology, market traction, large and growing markets, growth and revenues, limited competition, blah, blah, blah • Each investor seems to have a hot button, which changes over time • Each company has a hierarchy of risks from largest to smallest 7www.CoCreationCapital.com
  8. 8. VC funding is hard… • Currently, many momentum investors • And many angel investors – 20,000+ angel investments in 2014 – 1,200 VC investments • Implication: VC funding is still wicked hard, so… – Try to get VCs in seed rounds – Vet angels on their ability to do follow-on – Get to break even without VC investment 8www.CoCreationCapital.com
  9. 9. The VC Process 9www.CoCreationCapital.com
  10. 10. A great meeting is both an interview and a first date • Personal: Be yourself, be engaging – How you answer matters as much as what you answer • Prep: Be prepared • Positioning: You are an equal, not a buyer or a seller – Follow the lead – Ask questions 10www.CoCreationCapital.com
  11. 11. What you need to provide • What pain we solve • How we solve it • Why we are the right team to solve it • What we’ve done (so far) and will do (with your help) • Why we win vs competitors • The amount of revenue/profit/scale winning creates for our mutual benefit 11www.CoCreationCapital.com
  12. 12. Thank You and Q&A 12 Gadiel Morantes 415-234-3437 contact@earlygrowthfinancialservices.com www.earlygrowthfinancialservices.com Follow us @EarlyGrowthFS Sean Foote 650-255-4134 sean@cocreationcap.com www.cocreationcapital.com

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