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Introducing Openfund II

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Introducing Openfund II, the original presentation that was delivered at Open Coffee Athens, Friday November 30

Introducing Openfund II, the original presentation that was delivered at Open Coffee Athens, Friday November 30

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  • 1. Int$oducing  Openf0nd  II Your Startup Partner
  • 2. 5 years ago, we started our own companiesand met up together at Open Coffee.
  • 3. Our startups failed,but a community was being created.
  • 4. Most other local startups were failingas well, for the very same reasons.
  • 5. We tried to figure out a solution.
  • 6. Openfund I• We set up an exceptional team of 7 individuals and raised €500k• We offered advice on all things startup and €20-50k for 15% of equity• We received 300+ proposals and selected 8 teams to work with
  • 7. Portfolio
  • 8. Current Status
  • 9. €2Mraised in follow-up funding
  • 10. 55current headcount
  • 11. 2.2xnominal returns, current estimate
  • 12. Learnings• Operations proved suboptimal• Lack of follow on capital an issue
  • 13. Enter  Openf0nd  II
  • 14. TeamIt took us two years, but here we are.
  • 15. George Tziralis Georgios Kasselakis Openfund I Founders
  • 16. Nikkos Frangos Constantine Pateraslifelong entrepreneurs & investors in a number of industries with a background in shipping, Openfund I investors
  • 17. Aristos Doxiadispioneer of private equity in Greece with 17 years of experience, Openfund I advisor
  • 18. Lead Investor• European Investment Fund• Public funds• Investment, not subsidy
  • 19. 11private investors
  • 20. 50world class mentors
  • 21. €10M to be invested in...
  • 22. You
  • 23. Requirements✓ Software enabled businesses✓ International innovation✓ Catering to international markets✓ Based & incorporated in Greece
  • 24. Two paths• Pre-seed ("build a product")• Seed ("build a business")
  • 25. Pre-seed• Reqs: strong founding team, a clear product plan, prototype (optional)• Offering: indicatively, €50k for 10%, then another €50k for another 5%• Targets: product-market fit, early recurring revenues
  • 26. Seed• Reqs: product-market fit, solid recurring revenues, clear growth plan• Offering: €200-500k• Targets: Series A ready, cash flow positive
  • 27. Process• Application• Business plan• Presentation
  • 28. Apply• Seed always open• Pre-seed CFP starts now, closes Jan 31
  • 29. Mission Complement founders with whatever they require to turn:• ideas into products,• products into businesses &• businesses into successful companies
  • 30. flickr credits: proimos, seandreilinger, stevendepolo, cblue98, communityfriend,eureka, edfilmfest, quinnanya, vsanderson, tejedoro_de_luz, pareerica, jannem, olibac, chiotsrun, 19779889@N00, 58847482@N03, klearchos, nasamarshall

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