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George Tziralis openfund ii details for prospective entrepreneurs

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  • 1. Int$oducing  Openf0nd  IIYour 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 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. Portfolio
  • 8. Current Status
  • 9. €2Mraised in follow-up funding
  • 10. current headcount55
  • 11. 2.2xnominal returns, current estimate
  • 12. Learnings• Operations proved suboptimal• Lack of follow on capital an issue
  • 13. Enter  Openf0nd  II
  • 14. It took us two years, but here we are.Team
  • 15. George Tziralis Georgios KasselakisOpenfund I Founders
  • 16. Nikkos Frangos Constantine Pateraslifelong entrepreneurs & investors in a numberof industries with a background in shipping,Openfund I investors
  • 17. Aristos Doxiadispioneer of private equity in Greecewith 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. €10Mto 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 clearproduct plan, prototype (optional)• Offering: indicatively, €50k for 10%,then another €50k for another 5%• Targets: product-market fit, earlyrecurring revenues
  • 26. Seed• Reqs: product-market fit, solid recurringrevenues, clear growth plan• Offering: €200-500k• Targets: Series A ready, cash flowpositive
  • 27. Process• Application• Business plan• Presentation
  • 28. Apply• Seed always open• Pre-seed CFP starts now, closes Jan 31
  • 29. MissionComplement founders with whateverthey 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