George Tziralis openfund ii details for prospective entrepreneurs

443 views

Published on

Published in: Economy & Finance, Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
443
On SlideShare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
0
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

George Tziralis openfund ii details for prospective entrepreneurs

  1. 1. Int$oducing  Openf0nd  IIYour Startup Partner
  2. 2. 5 years ago, we started our own companiesand met up together at Open Coffee.
  3. 3. Our startups failed,but a community was being created.
  4. 4. Most other local startups were failingas well, for the very same reasons.
  5. 5. We tried to figure out a solution.
  6. 6. Openfund I• We set up an exceptional team of 7individuals and raised €500k• We offered advice on all things startupand €20-50k for 15% of equity• We received 300+ proposals andselected 8 teams to work with
  7. 7. Portfolio
  8. 8. Current Status
  9. 9. €2Mraised in follow-up funding
  10. 10. current headcount55
  11. 11. 2.2xnominal returns, current estimate
  12. 12. Learnings• Operations proved suboptimal• Lack of follow on capital an issue
  13. 13. Enter  Openf0nd  II
  14. 14. It took us two years, but here we are.Team
  15. 15. George Tziralis Georgios KasselakisOpenfund I Founders
  16. 16. Nikkos Frangos Constantine Pateraslifelong entrepreneurs & investors in a numberof industries with a background in shipping,Openfund I investors
  17. 17. Aristos Doxiadispioneer of private equity in Greecewith 17 years of experience,Openfund I advisor
  18. 18. Lead Investor• European Investment Fund• Public funds• Investment, not subsidy
  19. 19. 11private investors
  20. 20. 50world class mentors
  21. 21. €10Mto be invested in...
  22. 22. You
  23. 23. Requirements✓ Software enabled businesses✓ International innovation✓ Catering to international markets✓ Based & incorporated in Greece
  24. 24. Two paths• Pre-seed ("build a product")• Seed ("build a business")
  25. 25. Pre-seed• Reqs: strong founding team, a clearproduct plan, prototype (optional)• Offering: indicatively, €50k for 10%,then another €50k for another 5%• Targets: product-market fit, earlyrecurring revenues
  26. 26. Seed• Reqs: product-market fit, solid recurringrevenues, clear growth plan• Offering: €200-500k• Targets: Series A ready, cash flowpositive
  27. 27. Process• Application• Business plan• Presentation
  28. 28. Apply• Seed always open• Pre-seed CFP starts now, closes Jan 31
  29. 29. MissionComplement founders with whateverthey require to turn:• ideas into products,• products into businesses &• businesses into successful companies
  30. 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

×