techstars patriot boot camp fundraising preso

Techstars Patriot Boot Camp

Shai Goldman

sgoldman@svb.com / @shaig

Slideshare.net (search Shai Goldman)

July 18, 2012

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• Silicon Valley Bank = commercial bank serving the innovation economy• Working with tech startups and venture capitalists for 10+ years• Worked in key startup markets: San Francisco and New York• Helped hundred of startups with their fundraising process• Success in finding investors for startups

Background

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• It takes A LOT of time (3 to 6 months)• It’s not fun• It is distraction• It is REALLY hard• Many startups are not able to raise $ (for various reasons)

Fundraising

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• Friends and Familyo $0K to $200Ko Concept and team

• Acceleratorso $15K to $300Ko Concept and team, sometimes product

• Seed Roundo $250K to $2Mo Concept, team, product and some customers/users

• Series A roundo $2M+o Product is working well, you have good metrics, time to step on the GAS

Fundraising Rounds

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• Angels • Accelerators• Seed Funds aka Micro VCs• VC Funds• Corporate VCs

Type of Investors

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• Personal Rolodex• Founders of Venture Backed startups• AngelList• Service Providers (Lawyers, Accountants, Bankers, etc)• Community (co-working facilities, events, hackathons)

Don’t• Cold email / call / tweet• Get over aggressive at events• Hire a broker

Access to Investors

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• Team• Pitch Deck• Product Demo• Financials (projections, balance sheet, cap table)

What You Need

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• Function of supply and demand• Seed Rounds - 10% to 30%• Series A Rounds – 15% to 30%

Valuation

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• Financial• Education• Commerce• Advertising• Media• Social• Healthcare• Infrastructure

Trends

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• http://k9ventures.com/blog/2012/05/31/hope-and-numbers/• http://www.bothsidesofthetable.com/2012/01/16/how-to-develop-your-fund-raisi

ng-strategy/• http://www.angel.co/• http://www.slideshare.net/jbeninato/raising-capital-closing-the-deal• http://www.slideshare.net/goldfinger80/investor-presentation-template-1227413• The Four Steps to the Epiphany - by Steve Blank• Venture Deals – by Brad Feld & Jason Mendelson• The Lean Startup – Eric Ries

Resources