1Confidential – Trade Secret
Kate Mitchell, Scale Venture Partners, @KateDMitchell
Pre-Money Conference June 27, 2014
The ...
@KateDMitchell
The View
From Fund IV
@KateDMitchell
The View
Towards Fund V
@KateDMitchell
Environment
@KateDMitchell
Venture Fundraising
Industry Becoming Right Sized
$120B
20
60
700
300
500
100
# of
Funds
VC
Capital
Raised
...
@KateDMitchell
The Last 5 Years…
Venture Raised: $92.5B
@KateDMitchell
The Last 5 Years…
Venture Raised: $92B
Venture Invested: $133B
The “Overhang” Of
Unfunded Commitments
Is Go...
@KateDMitchell
“Survivability is thrivability. You have to
be alive to win”
»Early VC lesson
@KateDMitchell
Lessons
Learned
From
Entrepreneurs
@KateDMitchell
Lessons
Learned
From Funding
Entrepreneurs
@KateDMitchell
Understand Product/Market Fit
• Clear Strategy
• Fit on Investing Continuum
• Ability To Deliver Cash Multi...
@KateDMitchell
Know Your Customer
• Mission
• Appetite
• Investing “Map”
• Purchase History
• Process
@KateDMitchell
Best CEOs Develop New Sources of Capital
…Years Before Needing It
@KateDMitchell
Build Customer Relationship
• Contact Builds Trust
• Knowledge Reduces Risk
• Do What You Say You Do?
• Tra...
@KateDMitchell
Invest In Your Product Launch
• Data
• Process
• People
• Message
@KateDMitchell
ScaleVP Knows Scaling
Before
Investing
After
Investing
@KateDMitchell
@KateDMitchell
92 Days…
• Newest Relationship – 3 Years Old
• Diligence Completed...Not Started
• Beneficiary of LP Concen...
@KateDMitchell
93rd Day…
• Focus on Delivering Product: $$$
• Continue Relations For Next Raise
@KateDMitchell
22Confidential
Kate Mitchell
Scale Venture Partners
www.scalevp.com
(650)378-6000
kate@scalevp.com
@KateDMitchell
[PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"
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[PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

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"The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

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[PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

  1. 1. 1Confidential – Trade Secret Kate Mitchell, Scale Venture Partners, @KateDMitchell Pre-Money Conference June 27, 2014 The Fundraising Trenches: How We Closed a $300M Fund… Faster Than We Expected
  2. 2. @KateDMitchell Just Mastering the Game • Fund I - Captive • Fund II – Captive  Spinout • Fund III – 1st Raise 2008/9 • Fund IV – May 2013
  3. 3. @KateDMitchell The View From Fund IV
  4. 4. @KateDMitchell The View Towards Fund V
  5. 5. @KateDMitchell Environment
  6. 6. @KateDMitchell Venture Fundraising Industry Becoming Right Sized $120B 20 60 700 300 500 100 # of Funds VC Capital Raised ($B) VC Capital Raised # of Funds Source: Thomson Reuters and NVCA Note: 2012YTD denotes Q1 2012 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 1Q2014
  7. 7. @KateDMitchell The Last 5 Years… Venture Raised: $92.5B
  8. 8. @KateDMitchell The Last 5 Years… Venture Raised: $92B Venture Invested: $133B The “Overhang” Of Unfunded Commitments Is Gone
  9. 9. @KateDMitchell “Survivability is thrivability. You have to be alive to win” »Early VC lesson
  10. 10. @KateDMitchell Lessons Learned From Entrepreneurs
  11. 11. @KateDMitchell Lessons Learned From Funding Entrepreneurs
  12. 12. @KateDMitchell Understand Product/Market Fit • Clear Strategy • Fit on Investing Continuum • Ability To Deliver Cash Multiples • Test The Market
  13. 13. @KateDMitchell Know Your Customer • Mission • Appetite • Investing “Map” • Purchase History • Process
  14. 14. @KateDMitchell Best CEOs Develop New Sources of Capital …Years Before Needing It
  15. 15. @KateDMitchell Build Customer Relationship • Contact Builds Trust • Knowledge Reduces Risk • Do What You Say You Do? • Transparent @ Failures & Success? • LPs Have Pattern Recognition – Listen!
  16. 16. @KateDMitchell Invest In Your Product Launch • Data • Process • People • Message
  17. 17. @KateDMitchell ScaleVP Knows Scaling Before Investing After Investing
  18. 18. @KateDMitchell
  19. 19. @KateDMitchell 92 Days… • Newest Relationship – 3 Years Old • Diligence Completed...Not Started • Beneficiary of LP Concentration • Never Assumed Success • Honest About Process
  20. 20. @KateDMitchell 93rd Day… • Focus on Delivering Product: $$$ • Continue Relations For Next Raise
  21. 21. @KateDMitchell
  22. 22. 22Confidential Kate Mitchell Scale Venture Partners www.scalevp.com (650)378-6000 kate@scalevp.com @KateDMitchell

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