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Introducing Openfund II


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Introducing Openfund II, the original presentation that was delivered at Open Coffee Athens, Friday November 30

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Introducing Openfund II

  1. Int$oducing  Openf0nd  II Your 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 7 individuals and raised €500k• We offered advice on all things startup and €20-50k for 15% of equity• We received 300+ proposals and selected 8 teams to work with
  7. Portfolio
  8. Current Status
  9. €2Mraised in follow-up funding
  10. 55current headcount
  11. 2.2xnominal returns, current estimate
  12. Learnings• Operations proved suboptimal• Lack of follow on capital an issue
  13. Enter  Openf0nd  II
  14. TeamIt took us two years, but here we are.
  15. George Tziralis Georgios Kasselakis Openfund I Founders
  16. Nikkos Frangos Constantine Pateraslifelong entrepreneurs & investors in a number of industries with a background in shipping, Openfund I investors
  17. Aristos Doxiadispioneer of private equity in Greece with 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. €10M to 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 clear product plan, prototype (optional)• Offering: indicatively, €50k for 10%, then another €50k for another 5%• Targets: product-market fit, early recurring revenues
  26. Seed• Reqs: product-market fit, solid recurring revenues, clear growth plan• Offering: €200-500k• Targets: Series A ready, cash flow positive
  27. Process• Application• Business plan• Presentation
  28. Apply• Seed always open• Pre-seed CFP starts now, closes Jan 31
  29. Mission Complement founders with whatever they 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