Winning Venture Capital Ignite Leeds 2009 Edward French, 22nd January 2009
• Ed French, Investment Director, Enterprise Ventures• Team specialising in backing early-stage companies and teams• Done around 40 technology investments~ half software• £40m under management in technology funds• Deals from £50k-£2m
What is Venture Capital?• VC provides capital for a share of the business (usually 25-50%)• VC joins the team and helps• Everyone makes money ... OR .. Not – Some businesses fail – Some businesses survive but don’t make money – A few businesses pay back all the capital
When should you start talking to a VC? “Early” “Well prepared”
Why might my business be rejected?Too similar to other Too much Opportunity too products/services small (technology/market) risk
How much money should you ask for?The least that will What you need and a Aim higher than you work tiny bit more need
VC’s like to back companies with no competitors?
How long might it take? 3 months 6 months 12 months