Product Management<br />A key component for VC backed business?<br />
About Me<br />VC with Antrak Capital<br />General Manager and Commercial Manager with 15 years industry experience<br />Oh...
About Antrak Capital<br />
An Active Investor<br />Period of active engagement to shape:<br /><ul><li>Commercial strategy / sales
Leadership development
Performance culture
International expansion (USA)
Product management</li></ul>Due Diligence Phase<br />Board<br />Initial Investment<br />2 Years<br />Follow on<br />Capita...
Characteristics of investments<br />Strong core team<br />CEO 1st, then the rest of the team<br />Large addressable market...
“we invest in”<br />
Development Stages<br />We typically look to invest here<br />
However, pre‘growth’ stage<br />
With the organization looking like<br />CEO<br />Tech<br />Ops<br />MKTG<br />Sales<br />
But we think it should look this<br />
However, unmanaged<br />
An active, supportive investor<br />
Upcoming SlideShare
Loading in...5
×

Product Management - A key component for VC backed businesses?

1,194

Published on

Mitch Pender of Antrak Capital discusses the importance of Product Management in VC backed startups.

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

No Downloads
Views
Total Views
1,194
On Slideshare
0
From Embeds
0
Number of Embeds
3
Actions
Shares
0
Downloads
0
Comments
0
Likes
3
Embeds 0
No embeds

No notes for slide
  • VC’s often say investment decisions are made on Team, Market and Product – in varying orderBut an earlier stages, I think it is more about Team and Market. A great team, and a fantastic opportunity – with the right management a great product can emerge.
  • But an earlier stages, I think it is more about Team and Market. A great team, and a fantastic opportunity – with the right management a great product can emerge. Product is really about vision – ideas – concepts. It may grow to being a solution – but lacks the scalable repeatability of a product
  • Usually, when we get involved with a business, it looks something like this. A CEO who runs the company (and often the product), a fairly developed tech team, some operations capacity and sales and marketing developingGenerally speaking, there is very little product management, and almost certainly not a seasoned product manager.
  • But at this stage, the we feel the hierarchy should be more collaborative. The CEO who had the vision for the company, and the product, should lead, but in a less top down mannerAt the center – the product or the solution that will become the product
  • But left unmanaged – will it be the strongest voice who leads product direction? Will sales just bully tech with a feature list for next deal that will close or will tech build the never ending feature set that the market doesn’t want?
  • Our active approach means we want to be engaged and help our portfolio business grow.In our active phase of 9-12 months, we look to develop the less established areas of the company. That may be sales and commercialization, possibly finance, or pehaps leadership. But it always involves product – and more importantly the proper establishment of PM
  • When won’t stop being actively involved in a portfolio business until there is PM who owns the product and function PM process in place.
  • Product Management - A key component for VC backed businesses?

    1. 1. Product Management<br />A key component for VC backed business?<br />
    2. 2. About Me<br />VC with Antrak Capital<br />General Manager and Commercial Manager with 15 years industry experience<br />Oh yeah – I’ve never been a Product ManagerBut I have worked with some great ones!<br />
    3. 3. About Antrak Capital<br />
    4. 4. An Active Investor<br />Period of active engagement to shape:<br /><ul><li>Commercial strategy / sales
    5. 5. Leadership development
    6. 6. Performance culture
    7. 7. International expansion (USA)
    8. 8. Product management</li></ul>Due Diligence Phase<br />Board<br />Initial Investment<br />2 Years<br />Follow on<br />Capital?<br />1 Year<br />
    9. 9. Characteristics of investments<br />Strong core team<br />CEO 1st, then the rest of the team<br />Large addressable market<br />Initial commercial traction<br />A few customers & some revenue<br />Momentum<br />
    10. 10. “we invest in”<br />
    11. 11. Development Stages<br />We typically look to invest here<br />
    12. 12. However, pre‘growth’ stage<br />
    13. 13. With the organization looking like<br />CEO<br />Tech<br />Ops<br />MKTG<br />Sales<br />
    14. 14. But we think it should look this<br />
    15. 15. However, unmanaged<br />
    16. 16. An active, supportive investor<br />
    17. 17. It starts as a function<br />
    18. 18. And ends as a role<br />
    19. 19. Our final view<br />PM is key to us a VC<br />It’s one of the 5 tenets of our approach<br />Earlier stage businesses often don’t have PM<br />This doesn’t discourage us, but we want (part) of the focus of our capital and time to develop it<br />We won’t step out of active role until there is functional PM and a Product Manager <br />
    20. 20. Is Product Management<br />A key component for VC backed business?<br />

    ×