My quick take on what's currently happening with the VC fundraising market:
There is a lot of talk about the increasing difficulty for startups to raise their next round. And they're right, VC funds, despite tons of dry powder (estimated at $500B worldwide), have drastically tightened their criteria to invest. This is reverberating throughout the VC value chain. Seed funds don't have a clear read on what are the right KPIs for a startup to interest Series A funds. Therefore they're a lot more demanding with seed startups. And so on between Series A and Series B... It's a bit of a vicious circle.
Indeed, over the past decade, abound with cash, VCs have strayed away from their main duty which is “Financing technological innovations that will completely disrupt industries creating new ones altogether” (that’s why your market size slide is rubbish - if you’re really innovating your market doesn’t exist). For referential, VC funding in 2021 amounted to $621B compared to $62B in 2011, a 10x movement. This led to “easy” and irrational up-rounds, and an exhilarating feel of easy money and large paper gains. As a result, many VCs have slowly become simple high-risk vehicles financing too many “incremental innovation” startups.
Yet the business model of VCs has historically been driven by the Power of Law. One deal would return the entire fund multiple times. With public valuations crashing down and paper gains evaporating on the private markets, that law is back in power as the most resilient startups are the ones where technological innovation is core to their product . Many funds now need to update their TVPI (and share it with their LPs) and almost all are now focused on startups they believe actually hold proprietary tech. With the exceptionally large VC dry powder, I expect fundraisings and valuations to remain steady (and maybe go up) because of an increase in competition for the best deals. Meaning, if you’re a disruptive solution, you will most likely get fundraising just as easily as you would have in 2020/2021. If you’re an incremental innovation, you’ll have a much harder time, so focus on your tech (or on pitching public funds, regional funds, clubs of BAs, family offices, corporate VCs - all great vehicles that do not have expiration periods and are more patient capital).
We are going through a cleansing time period, one that will institutionalize VC once and for all, break this downward spiral, and bring the market back to basics.
#innovation #startups #fundraising #venturecapital
🔗https://www.linkedin.com/feed/update/urn:li:activity:6983375741157572608/
There is a lot of talk about the increasing difficulty for startups to raise their next round. And they're right, VC funds, despite tons of dry powder (estimated at $500B worldwide), have drastically tightened their criteria to invest. This is reverberating throughout the VC value chain. Seed funds don't have a clear read on what are the right KPIs for a startup to interest Series A funds. Therefore they're a lot more demanding with seed startups. And so on between Series A and Series B... It's a bit of a vicious circle.
Indeed, over the past decade, abound with cash, VCs have strayed away from their main duty which is “Financing technological innovations that will completely disrupt industries creating new ones altogether” (that’s why your market size slide is rubbish - if you’re really innovating your market doesn’t exist). For referential, VC funding in 2021 amounted to $621B compared to $62B in 2011, a 10x movement. This led to “easy” and irrational up-rounds, and an exhilarating feel of easy money and large paper gains. As a result, many VCs have slowly become simple high-risk vehicles financing too many “incremental innovation” startups.
Yet the business model of VCs has historically been driven by the Power of Law. One deal would return the entire fund multiple times. With public valuations crashing down and paper gains evaporating on the private markets, that law is back in power as the most resilient startups are the ones where technological innovation is core to their product . Many funds now need to update their TVPI (and share it with their LPs) and almost all are now focused on startups they believe actually hold proprietary tech. With the exceptionally large VC dry powder, I expect fundraisings and valuations to remain steady (and maybe go up) because of an increase in competition for the best deals. Meaning, if you’re a disruptive solution, you will most likely get fundraising just as easily as you would have in 2020/2021. If you’re an incremental innovation, you’ll have a much harder time, so focus on your tech (or on pitching public funds, regional funds, clubs of BAs, family offices, corporate VCs - all great vehicles that do not have expiration periods and are more patient capital).
We are going through a cleansing time period, one that will institutionalize VC once and for all, break this downward spiral, and bring the market back to basics.
#innovation #startups #fundraising #venturecapital
🔗https://www.linkedin.com/feed/update/urn:li:activity:6983375741157572608/
Linkedin
Augustin Sayer on LinkedIn: #innovation #startups #fundraising #venturecapital | 76 comments
My quick take on what's currently happening with the VC fundraising market:
There is a lot of talk about the increasing difficulty for startups to raise their… | 76 comments on LinkedIn
There is a lot of talk about the increasing difficulty for startups to raise their… | 76 comments on LinkedIn
https://techcrunch.com/2022/09/01/sample-series-d-pitch-deck-front/
🔍 Pitch Deck Teardown: Front’s $65M Series D Deck & How Knowledge of Market Position Translates Into a Pitch Story
Did you know that investors fund only 1% of the pitches they receive? Some are even more selective, funding about 1 in 400. (Alejandro Cremades)
To put that into perspective, it’s about 5x harder to get funded than it is to get into Harvard (which had a 5% admissions rate last year).
One way to give your pitch the best odds is to study what others have done well. That’s why I wanted to share this deck from Front, a customer communication hub that recently raised $65 M at a $1.7 B valuation.
Here’s what the deck does well:
🔹 It tells a compelling story in as few words as possible (especially that first slide with the key numbers!)
🔹 Graphs elegantly show the company’s position as a market leader
🔹 It shows traction, noting key customers
Some things that could be better:
🔻 No listed competitors
🔻 No operating plan to show what the company plans to do with the money
🔻 Doesn’t specify the size of the local or global market
For details, take a look at the deck below 👇
What do you find most challenging about creating a pitch deck? Please share in the comments. 🗯️
#pitching #founders #startups #fundraising
Source: Haje Jan Kamps via TechCrunch
Нашел еще несколько разборов от автора:
https://techcrunch.com/2022/10/06/sample-series-a-pitch-deck-vori/
https://techcrunch.com/2022/09/15/sample-series-a-pitch-deck-helu-io/
https://techcrunch.com/2022/09/22/sample-angel-pitch-deck-party-round/
Всякое разное еще тут:
https://techcrunch.com/author/haje-jan-kamps-2/
На самом деле это все я изучаю из-за разных подходов к презентации, дьюдила и инвестиций в СНГ и США.
Следующим сообщение просто скрин закреплю, с вас примеры требований по раундам/стадиям и деньгам 🙏
🔍 Pitch Deck Teardown: Front’s $65M Series D Deck & How Knowledge of Market Position Translates Into a Pitch Story
Did you know that investors fund only 1% of the pitches they receive? Some are even more selective, funding about 1 in 400. (Alejandro Cremades)
To put that into perspective, it’s about 5x harder to get funded than it is to get into Harvard (which had a 5% admissions rate last year).
One way to give your pitch the best odds is to study what others have done well. That’s why I wanted to share this deck from Front, a customer communication hub that recently raised $65 M at a $1.7 B valuation.
Here’s what the deck does well:
🔹 It tells a compelling story in as few words as possible (especially that first slide with the key numbers!)
🔹 Graphs elegantly show the company’s position as a market leader
🔹 It shows traction, noting key customers
Some things that could be better:
🔻 No listed competitors
🔻 No operating plan to show what the company plans to do with the money
🔻 Doesn’t specify the size of the local or global market
For details, take a look at the deck below 👇
What do you find most challenging about creating a pitch deck? Please share in the comments. 🗯️
#pitching #founders #startups #fundraising
Source: Haje Jan Kamps via TechCrunch
Нашел еще несколько разборов от автора:
https://techcrunch.com/2022/10/06/sample-series-a-pitch-deck-vori/
https://techcrunch.com/2022/09/15/sample-series-a-pitch-deck-helu-io/
https://techcrunch.com/2022/09/22/sample-angel-pitch-deck-party-round/
Всякое разное еще тут:
https://techcrunch.com/author/haje-jan-kamps-2/
На самом деле это все я изучаю из-за разных подходов к презентации, дьюдила и инвестиций в СНГ и США.
Следующим сообщение просто скрин закреплю, с вас примеры требований по раундам/стадиям и деньгам 🙏
TechCrunch
Pitch Deck Teardown: Front’s $65M Series D deck
In its own words, Front is a customer communication hub that keeps teams focused on what technology can’t replace: ensuring every conversation strengthens the customer relationship. The company recently raised $65 million at a $1.7 billion valuation, which…
https://airtable.com/shrxZPYAeS6o50uBn/tblp8gkusdL5Qt90K/viwdrx4zk35FuQWYZ?blocks=hide
Акселератор без equity?
Equity free?
Мы такое любим ❤️
🚀 101 Equity-Free Startup Accelerators Worldwide 🚀
Looking for an accelerator, but don’t want to give up 10% of your startup?
There are equity-free options out there! These incubators and accelerators are sponsored by VCs, corporations, and non-profits.
The programs span the globe:
🔹 North America
🔹 Latin America
🔹 Europe
🔹 Middle East
🔹 Asia
🔹 Africa
🔹 Australia
Many of these programs are looking for under-represented founders such as women, veterans, Latinx, and people of color.
Get the funding, mentorship, networks, and training without the equity dilution.
👇 Head to the link in the first comment for the full list with links!
And feel free to share it with your networks or with anyone who could benefit from these startup programs.
Was this list helpful to you? Let me know in the comments!
#startup #founder #VC #fundraising
Скорее всего там ребята делают воронки под CVC или являются скаутами под фонды.
🤷♂️🤔 вопрос открытый как там воронка и экономика сходятся.
Сам не читал, но увидел PayPal в списке, значит гипотеза близкая к правде.
Даже если и не возьмут, можно в LinkedIn зафрендить и попросить интро в фонд или кто оплачивает «пир» ❤️
PS: на самом деле просто посты «ворую» из Линкедина, лента формируется шикарно
https://www.linkedin.com/posts/evareder_startup-founder-vc-activity-6986787677148696576-aB7q?utm_source=share&utm_medium=member_ios
Акселератор без equity?
Equity free?
Мы такое любим ❤️
🚀 101 Equity-Free Startup Accelerators Worldwide 🚀
Looking for an accelerator, but don’t want to give up 10% of your startup?
There are equity-free options out there! These incubators and accelerators are sponsored by VCs, corporations, and non-profits.
The programs span the globe:
🔹 North America
🔹 Latin America
🔹 Europe
🔹 Middle East
🔹 Asia
🔹 Africa
🔹 Australia
Many of these programs are looking for under-represented founders such as women, veterans, Latinx, and people of color.
Get the funding, mentorship, networks, and training without the equity dilution.
👇 Head to the link in the first comment for the full list with links!
And feel free to share it with your networks or with anyone who could benefit from these startup programs.
Was this list helpful to you? Let me know in the comments!
#startup #founder #VC #fundraising
Скорее всего там ребята делают воронки под CVC или являются скаутами под фонды.
🤷♂️🤔 вопрос открытый как там воронка и экономика сходятся.
Сам не читал, но увидел PayPal в списке, значит гипотеза близкая к правде.
Даже если и не возьмут, можно в LinkedIn зафрендить и попросить интро в фонд или кто оплачивает «пир» ❤️
PS: на самом деле просто посты «ворую» из Линкедина, лента формируется шикарно
https://www.linkedin.com/posts/evareder_startup-founder-vc-activity-6986787677148696576-aB7q?utm_source=share&utm_medium=member_ios
😅🤷♂️ Интересные критерии для раундов, Series-A и дальше там +/- одинаково, все что до у меня вызывает вопросы. Стата по 2018 год там.
🗒️ The Understandable Guide to Startup Funding Stages
Seed, series A, series B. Fundraising is complex and definitions of each stage are constantly changing.
Knowing what to expect at each stage can help you prepare and boost your odds of landing that coveted VC check.
That’s why I wanted to share this guide to funding stages.
You’ll learn:
✅ How much capital companies generally raise at each stage
✅ What type of investor is likely to invest at each stage
✅ Some funds to target for each stage
✅ What resources might be helpful
...and much more!
To learn more, take a look at the guide below. 👇
What do you think of this guide? Please share in the comments. 🗯️
Nathan Beckord – I help startups raise capital through software, content, and processes
#venturecapital #founders #startups #fundraising
Source: Visible Blog
https://www.linkedin.com/posts/nathanbeckord_the-understandable-guide-to-startup-funding-activity-7002032442370928641-jvF4?utm_source=share&utm_medium=member_ios
🗒️ The Understandable Guide to Startup Funding Stages
Seed, series A, series B. Fundraising is complex and definitions of each stage are constantly changing.
Knowing what to expect at each stage can help you prepare and boost your odds of landing that coveted VC check.
That’s why I wanted to share this guide to funding stages.
You’ll learn:
✅ How much capital companies generally raise at each stage
✅ What type of investor is likely to invest at each stage
✅ Some funds to target for each stage
✅ What resources might be helpful
...and much more!
To learn more, take a look at the guide below. 👇
What do you think of this guide? Please share in the comments. 🗯️
Nathan Beckord – I help startups raise capital through software, content, and processes
#venturecapital #founders #startups #fundraising
Source: Visible Blog
https://www.linkedin.com/posts/nathanbeckord_the-understandable-guide-to-startup-funding-activity-7002032442370928641-jvF4?utm_source=share&utm_medium=member_ios
🤔Как говорить под что деньги рейзить на понятном языке для VC?
+ немного мыслей рассуждений, почему VC такие резкие и строгие, не понимают бедных (в прямом смысле) фаундеров:
- чаще всего деньги привлекают чтобы показать трекшен под новый раунд и показать выручку/ее рост.
- VC любят цифры и то как они могут IRR повысить для фонда. На этом в целом зона интересов заканчивается.
- Редкие случаи есть, когда отдельные GP/LP/Principal/Associate имеют достаточно опыта и насмотренности, чтобы пробраться сквозь «идею фаундеров» и увидеть там растущую/перспективную нишу.
- По моему опыту общения, VC сложно так много разбираться и додумывать за фаундера, что проще не общаться или отказать, чем заниматься благотворительностью даже умственной или время дарить.
- Так как VC и стартапы имеют разный опыт в переговорах и как правильно раунд собирать, то VC вырабатывают жесткий стиль общения с конкретными результатами/выводами. Стартапы не имея опыта, особенно молодые имеют больше времени и гибкости из-за чего ищут лазейки под коммуникации и поднятие денег, что отнимает время общее.
- Этот GAP/разрыв между опытом и свободным временем и создает такие модели взаимодействия в венчурной среде.
⭐️В общем, текст зацепил, советы полезные. Слайд с запросом на инвестиции нужно переделать 😵
How Much Money Should You Raise?
Founders,
Your goals and milestones that you plan to reach from your current raise (your outcomes) should make an attractive investment opportunity to the next stage of investors.
We call this finding your “fundable milestones”. Examples of fundable milestones are:
✅ Revenue
✅ Revenue Growth
✅ Revenue and/or customer retention
✅ Numbers of customers/users
✅ Partnerships created
✅ GMV
So, ask yourself, "what does the next stage investor in my sector like to see in an opportunity?"
For example, if enterprise SaaS seed investors like to see companies that are generating $300k - $500k ARR then your fundable milestone as a pre-seed company should be to generate around $300k to $500k ARR as a pre-seed company before you raise a seed round. That would make you an attractive company to seed stage investors.
Therefor, ask yourself today, "how much will it cost me between sales, marketing, new hires, and product development to generate $300k to $500k ARR". That dollar amount should be used to generate your raise amount.
Keep in mind, investors are NOT looking to buy time, they ARE looking to buy growth.
❌ Don’t say “We’re raising $250k for 12 months of runway”.
✅ Try saying, “We’re raising $250k to generate $35k in MRR and acquire 235 new SMB’s”.
In this scenario, MRR and SMB’s are the fundable milestones you’re optimizing for. You need to communicate to the investor that reaching those goals will cost $250k.
Whatever these figures might be, always make sure that those metrics are aligned with what investors in the next round want to see.
-------------
I'm a Pre-seed and Seed Investor whose professional and personal mission is improving the chances of founders getting funded by teaching them the fundamentals of how venture investors make decisions.
#founders #fundraising #venturecapital #startups
+ немного мыслей рассуждений, почему VC такие резкие и строгие, не понимают бедных (в прямом смысле) фаундеров:
- чаще всего деньги привлекают чтобы показать трекшен под новый раунд и показать выручку/ее рост.
- VC любят цифры и то как они могут IRR повысить для фонда. На этом в целом зона интересов заканчивается.
- Редкие случаи есть, когда отдельные GP/LP/Principal/Associate имеют достаточно опыта и насмотренности, чтобы пробраться сквозь «идею фаундеров» и увидеть там растущую/перспективную нишу.
- По моему опыту общения, VC сложно так много разбираться и додумывать за фаундера, что проще не общаться или отказать, чем заниматься благотворительностью даже умственной или время дарить.
- Так как VC и стартапы имеют разный опыт в переговорах и как правильно раунд собирать, то VC вырабатывают жесткий стиль общения с конкретными результатами/выводами. Стартапы не имея опыта, особенно молодые имеют больше времени и гибкости из-за чего ищут лазейки под коммуникации и поднятие денег, что отнимает время общее.
- Этот GAP/разрыв между опытом и свободным временем и создает такие модели взаимодействия в венчурной среде.
⭐️В общем, текст зацепил, советы полезные. Слайд с запросом на инвестиции нужно переделать 😵
How Much Money Should You Raise?
Founders,
Your goals and milestones that you plan to reach from your current raise (your outcomes) should make an attractive investment opportunity to the next stage of investors.
We call this finding your “fundable milestones”. Examples of fundable milestones are:
✅ Revenue
✅ Revenue Growth
✅ Revenue and/or customer retention
✅ Numbers of customers/users
✅ Partnerships created
✅ GMV
So, ask yourself, "what does the next stage investor in my sector like to see in an opportunity?"
For example, if enterprise SaaS seed investors like to see companies that are generating $300k - $500k ARR then your fundable milestone as a pre-seed company should be to generate around $300k to $500k ARR as a pre-seed company before you raise a seed round. That would make you an attractive company to seed stage investors.
Therefor, ask yourself today, "how much will it cost me between sales, marketing, new hires, and product development to generate $300k to $500k ARR". That dollar amount should be used to generate your raise amount.
Keep in mind, investors are NOT looking to buy time, they ARE looking to buy growth.
❌ Don’t say “We’re raising $250k for 12 months of runway”.
✅ Try saying, “We’re raising $250k to generate $35k in MRR and acquire 235 new SMB’s”.
In this scenario, MRR and SMB’s are the fundable milestones you’re optimizing for. You need to communicate to the investor that reaching those goals will cost $250k.
Whatever these figures might be, always make sure that those metrics are aligned with what investors in the next round want to see.
-------------
I'm a Pre-seed and Seed Investor whose professional and personal mission is improving the chances of founders getting funded by teaching them the fundamentals of how venture investors make decisions.
#founders #fundraising #venturecapital #startups
📎 https://foundationcapital.com/a-new-world-for-enterprise-ai/
🔍Я в привычку завел разбирать фонды/стартапы для поиска чего-то похожего на то чем занимаюсь и главное - ищу людей с похожим взглядом на работу/продукты.
🍀Нашел фонд который инвестирует от Seed’a до Series E (в основном Seed/A) в⚡️ Enterprise software:
📎https://www.crunchbase.com/organization/704baa25-5337-ecb0-71f7-f28c18ad3faa
❤️Для меня Enterprise Максимально понятное и дружелюбное направление, не смотря на стереотипы. Главное самому не общаться на старте с отделом закупок и менеджерами/топами 😅
🦄В общем, фонд открыл себе новое направление в AI. Пост больше для ребят из MTS ai и изучения, кто рядом там из стартапов есть и других фондов.
🔍Себе для заметок, чтобы вернуться потом.
Чтобы этот поток спама от меня хоть как-то потом пригодился, буду лепить тэги под поиск.
#enterprise #vc #fund #startup #ai #fundraising #mts ❤️
🔍Я в привычку завел разбирать фонды/стартапы для поиска чего-то похожего на то чем занимаюсь и главное - ищу людей с похожим взглядом на работу/продукты.
🍀Нашел фонд который инвестирует от Seed’a до Series E (в основном Seed/A) в
📎https://www.crunchbase.com/organization/704baa25-5337-ecb0-71f7-f28c18ad3faa
❤️Для меня Enterprise Максимально понятное и дружелюбное направление, не смотря на стереотипы. Главное самому не общаться на старте с отделом закупок и менеджерами/топами 😅
🦄В общем, фонд открыл себе новое направление в AI. Пост больше для ребят из MTS ai и изучения, кто рядом там из стартапов есть и других фондов.
🔍Себе для заметок, чтобы вернуться потом.
Чтобы этот поток спама от меня хоть как-то потом пригодился, буду лепить тэги под поиск.
#enterprise #vc #fund #startup #ai #fundraising #mts ❤️
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Foundation Capital
A "New World" for Enterprise AI - Foundation Capital
A "New World" for Enterprise AI: In 2022, after decades of travelling along an exponential curve, AI has reached its own “new world” moment.
Зацените описание фонда и походите по разделам сайта:
📎 https://www.vuventurepartners.com/
🦄Явно пишут про цели, размеры раунда, индустрии. От сида до Б кладут.
🔍Много фамилий из СНГ широт.
В линкедине просто задружиться со всеми начиная с партнеров и вывести на диалог.
#vc #fundraising
📎 https://www.vuventurepartners.com/
🦄Явно пишут про цели, размеры раунда, индустрии. От сида до Б кладут.
🔍Много фамилий из СНГ широт.
В линкедине просто задружиться со всеми начиная с партнеров и вывести на диалог.
#vc #fundraising
VU Venture Partners
A multi-stage global venture capital fund focused on Consumer, Enterprise, Fintech, Frontier, Healthcare, & PropTech
😵🥲 pre-seed valuation
Linkedin
Peter Walker on LinkedIn: #cartadata #preseed #angelinvesting #startups #fundraising #safes | 134 comments
How much does industry matter in pre-seed startup fundraising?
Short answer: way more than I thought.
Back to our regularly scheduled Friday Q&As after a… | 134 comments on LinkedIn
Short answer: way more than I thought.
Back to our regularly scheduled Friday Q&As after a… | 134 comments on LinkedIn
🔍Хотите поболтать с западными инвесторами? Их пара сотен, кто оставил свои calendly в описании.
💡Можно в настройках указать venture capital или как у меня добавить инвестор, или по любым целевым контактам / проспектам побегать. 🤔 На пример вам какой-нибудь манагер из AWS нужен, выборка не фонтан ⛲️ но зато бесплатно и в Zoom’e проще разговорить будет ❤️ на дальнейшие отношения.
💩Через такой OSINT познакомился с Okta VC и Salesforce vc ✌️
#hint #startup #fundraising #sillyadvices
💡Можно в настройках указать venture capital или как у меня добавить инвестор, или по любым целевым контактам / проспектам побегать. 🤔 На пример вам какой-нибудь манагер из AWS нужен, выборка не фонтан ⛲️ но зато бесплатно и в Zoom’e проще разговорить будет ❤️ на дальнейшие отношения.
💩Через такой OSINT познакомился с Okta VC и Salesforce vc ✌️
#hint #startup #fundraising #sillyadvices
🔗https://www.linkedin.com/posts/peterjameswalker_cartadata-roundsizes-fundraising-activity-7216135546387980289-dSGC
- сколько в среднем собирают сейчас на USA рынок.
- сколько в среднем собирают сейчас на USA рынок.
Linkedin
Peter Walker on LinkedIn: #cartadata #roundsizes #fundraising #founders #startups | 37 comments
Here's how much cash you should actually expect from your next VC round.
Data from 752 primary US venture rounds raised in Q2 2024. Piping hot data… | 37 comments on LinkedIn
Data from 752 primary US venture rounds raised in Q2 2024. Piping hot data… | 37 comments on LinkedIn
Зацепился за картинку, но контент с размышлениями тоже норм 😅
https://www.linkedin.com/posts/wen-zhang-duke-mba_fundraising-venturecapital-entrepeneurship-activity-7238967150416216064-sKZY?utm_source=share&utm_medium=member_ios
https://www.linkedin.com/posts/wen-zhang-duke-mba_fundraising-venturecapital-entrepeneurship-activity-7238967150416216064-sKZY?utm_source=share&utm_medium=member_ios
Linkedin
How to pitch effectively to investors | Wen Zhang posted on the topic | LinkedIn
𝗪𝗵𝗲𝗻 𝗶𝗻𝘃𝗲𝘀𝘁𝗼𝗿𝘀 𝘀𝗮𝘆 "𝗚𝗿𝗲𝗮𝘁 𝗽𝗶𝘁𝗰𝗵, 𝗮𝗺𝗮𝘇𝗶𝗻𝗴 𝗽𝗿𝗼𝗱𝘂𝗰𝘁.", 𝗜 𝗵𝗲𝗮𝗿: "𝗜’𝗺 𝗼𝘂𝘁."
I get the challenges and pressures of…
I get the challenges and pressures of…