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BRINGING THE ENTREPRENEURIAL SPIRITO EARLY STAGE INVESTMENT IN LATIN AMERICA    VANESA KOLODZIEJ | MANAGING PARTNER | @van...
The Art and Science ofFundraising
ABOUT NAZCA VENTURES •  Entrepreneurs Fund •  Santiago and Buenos Aires-based •  5 Partners, All Entrepreneurs •  LPs in L...
OUR TRACK RECORD•  Started 7 companies•  Sold 3•  Participated in 1 IPO•  2 Latam roll-outs•  Have done 10 investment•  Fo...
PROFESSIONAL      INVESTORS•  Accelerators•  Angels (Individual or Groups)•  VCs
ACCELERATOR•  Fix time, money, %, terms•  Mentoring/ Contacts•  Demo Day
ANGELS•  Their own money•  Much time/ contacts/ industry  expertise•  No structure
VCs•  Other people money•  Contacts/ Portfolio•  Structure•  Follow on
VC•  Asset class with the higher level of  risk•  Limited Partners: write checks but  do no add value•  General Partners: ...
FUND s 101•  Philosophy•  Partners•  Rounds•  Portfolio•  Investment Time
PARTNERS•  Limited partner: add any value?•  General partners: what are their  domain expertise•  Payment: Management fee ...
FUND s RETURNS•  Portfolio approach: 90% will fail•  30/30/40 investment spread•  Potential for home run•  1 company would...
MATERIALS•  One line•  Elevator pitch•  Teaser•  Deck•  Financials
NO BP
DEMO
STAGES•  Intro•  Teaser•  Meeting•  NDA/ Financials•  Due Diligence•  Non Shop/ Offering Letter
NVESTMENT READINESS •  Legal Entity •  Bank Account •  Shareholder Agreement •  Lawyer •  Accountant •  IP Fillings
EQUITY INVESTMENT•  Valuation Previous to Investment•  Purchase of Newly Issued Shares•  Term Sheet, Stockholder Agreement...
CONVERTIBLE DEBT•  No Valuation•  Issue of Time-limited Debt•  Convertible or not in Next Round•  Cap, Interest, Discount,...
TS vs CN•  Takes more time•  Valuation•  More expensive•  More protections•  Bigger deals
NEGOTIATION POINTS •  Common or preferred •  Seniority •  Interest •  Vesting •  Golden Parachute
INVESTORS SOURCES•  Angel.co•  Thefunded.com•  Lavca.com•  Crunchbase.com•  F6S.com
WHAT VC s LOOK FOR•  Huge markets•  Competitive advantage•  Business + Sales + Tech•  Recurrent revenues•  Economy of scal...
OW VALUATIONS ARE DON•    Growth Potential•    Market Size•    Market “Hotness”•    Number of Competitors•    Money the co...
VC’s IN LATAM
ACCELERATORS
QUESTIONS?
ABOUT NAZCA VENTURES •  Entrepreneurs’ Fund •  Santiago and Buenos Aires-based 5 •  Partners, All Entrepreneurs •  LPs in ...
OUR TRACK RECORD•  Started 7 companies•  Sold 3•  Participated in 1 IPO•  2 Latam roll-outs•  Have done 10 investment•  Fo...
HOW WE INVEST•  Technology (B2B mostly)•  No copycats•  Regional/ Global Potential•  $250-$750k Co-investment
WORK WITH THE BESTLATAM ENTREPRENEURSWHILE CREATING VALUE   FOR INVESTORS, ENTREPRENEURS AND       SOCIETY
BRINGING THE ENTREPRENEURIAL SPIRITO EARLY STAGE INVESTMENT IN LATIN AMERICA
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Investment strategy- 101 on VC fund raising for lat am

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Transcript of "Investment strategy- 101 on VC fund raising for lat am "

  1. 1. BRINGING THE ENTREPRENEURIAL SPIRITO EARLY STAGE INVESTMENT IN LATIN AMERICA VANESA KOLODZIEJ | MANAGING PARTNER | @vanesak
  2. 2. The Art and Science ofFundraising
  3. 3. ABOUT NAZCA VENTURES •  Entrepreneurs Fund •  Santiago and Buenos Aires-based •  5 Partners, All Entrepreneurs •  LPs in Latam and US
  4. 4. OUR TRACK RECORD•  Started 7 companies•  Sold 3•  Participated in 1 IPO•  2 Latam roll-outs•  Have done 10 investment•  Founded/ lead 2 main entrepreneurial NGOs in Lat am
  5. 5. PROFESSIONAL INVESTORS•  Accelerators•  Angels (Individual or Groups)•  VCs
  6. 6. ACCELERATOR•  Fix time, money, %, terms•  Mentoring/ Contacts•  Demo Day
  7. 7. ANGELS•  Their own money•  Much time/ contacts/ industry expertise•  No structure
  8. 8. VCs•  Other people money•  Contacts/ Portfolio•  Structure•  Follow on
  9. 9. VC•  Asset class with the higher level of risk•  Limited Partners: write checks but do no add value•  General Partners: write checks AND add value: management
  10. 10. FUND s 101•  Philosophy•  Partners•  Rounds•  Portfolio•  Investment Time
  11. 11. PARTNERS•  Limited partner: add any value?•  General partners: what are their domain expertise•  Payment: Management fee 2% + carried interest 20%•  Brackets of returns
  12. 12. FUND s RETURNS•  Portfolio approach: 90% will fail•  30/30/40 investment spread•  Potential for home run•  1 company would pay the whole fund
  13. 13. MATERIALS•  One line•  Elevator pitch•  Teaser•  Deck•  Financials
  14. 14. NO BP
  15. 15. DEMO
  16. 16. STAGES•  Intro•  Teaser•  Meeting•  NDA/ Financials•  Due Diligence•  Non Shop/ Offering Letter
  17. 17. NVESTMENT READINESS •  Legal Entity •  Bank Account •  Shareholder Agreement •  Lawyer •  Accountant •  IP Fillings
  18. 18. EQUITY INVESTMENT•  Valuation Previous to Investment•  Purchase of Newly Issued Shares•  Term Sheet, Stockholder Agreement•  Minority Protections•  Board seats
  19. 19. CONVERTIBLE DEBT•  No Valuation•  Issue of Time-limited Debt•  Convertible or not in Next Round•  Cap, Interest, Discount, Expiration Date
  20. 20. TS vs CN•  Takes more time•  Valuation•  More expensive•  More protections•  Bigger deals
  21. 21. NEGOTIATION POINTS •  Common or preferred •  Seniority •  Interest •  Vesting •  Golden Parachute
  22. 22. INVESTORS SOURCES•  Angel.co•  Thefunded.com•  Lavca.com•  Crunchbase.com•  F6S.com
  23. 23. WHAT VC s LOOK FOR•  Huge markets•  Competitive advantage•  Business + Sales + Tech•  Recurrent revenues•  Economy of scale•  No capital expenditure
  24. 24. OW VALUATIONS ARE DON•  Growth Potential•  Market Size•  Market “Hotness”•  Number of Competitors•  Money the company needs•  How much will needed next•  % owned by previous investors•  % wanted by new investors
  25. 25. VC’s IN LATAM
  26. 26. ACCELERATORS
  27. 27. QUESTIONS?
  28. 28. ABOUT NAZCA VENTURES •  Entrepreneurs’ Fund •  Santiago and Buenos Aires-based 5 •  Partners, All Entrepreneurs •  LPs in Latam and US •  Starting Early 2013
  29. 29. OUR TRACK RECORD•  Started 7 companies•  Sold 3•  Participated in 1 IPO•  2 Latam roll-outs•  Have done 10 investment•  Founded/ lead 2 main entrepreneurial NGOs in Lat am
  30. 30. HOW WE INVEST•  Technology (B2B mostly)•  No copycats•  Regional/ Global Potential•  $250-$750k Co-investment
  31. 31. WORK WITH THE BESTLATAM ENTREPRENEURSWHILE CREATING VALUE FOR INVESTORS, ENTREPRENEURS AND SOCIETY
  32. 32. BRINGING THE ENTREPRENEURIAL SPIRITO EARLY STAGE INVESTMENT IN LATIN AMERICA
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