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Other investor types / ﬁnancing sources BANKS (need collaterals / cash ﬂow / history)CORPORATES (can make sense, issues with exit)STATE SUPPORT (varies over time / by region)
VC investment landscape looking from Berlin (super simpliﬁed, based on perception and not exhaustive :-) €5M+ €1-5MInvestment size €500k Accel- erators Business Grants Angels €100k F&F Seed Series A Series B Stage
How VCs work and make money.... Look for potential for fast growth:- market (opportunity / competition) - team
VCs develop theses and patterns and spend a lot of time looking for companies that match them Point Nine Capital in 2012: - 2500 business plans - 10 investments=> we invested in 0.4% of business we have seen in 2012. other investors will have a similar rate
VCs tend to specialise, but in general they look for: Amazing teams Great productsHuge / fast growing / not very competitive market opportunities Great unit economics Traction Exit
Approach - network! Do your research Try not to cold approachNetworking wins, info@ is weakest channel
Approach - have a Deck! +/- 10 slides - be visual + numbers english only no paper no 50 page business plan no NDAs=> the initial info needs to grab attention and explain basics, not everything!
To be included in the basic info pack: Simple/simpliﬁed concept description + vision Product screenshots / linksMarket deﬁnition and size (not always easy, but give it a go) Competition / comparables Traction / KPIs / unit economics Team Next 12 months budget / capital required