1. BELIEVE
IN
ANGELS.
OPEN COFFEE
PRESENTATION
BENAKI MUSEUM
OCTOBER 2013

2. HELLAS DIRECT: OUR STORY
¡ A NEW, DIRECT INSURANCE COMPANY IN GREECE.
¡ “CHANGING THE GREEK INSURANCE MARKET, ONE POLICY AT A TIME”.
¡ WE ARE
HIGHLY SPECIALISED.
¡ WE LIVE AND BREATHE
¡ WE LOVE
TECHNOLOGY.
NUMBERS.
¡ WE SERVICE THE CONSUMER, NOT THE BROKER!
¡ 25 PEOPLE IN 3 COUNTRIES.
¡ A LONG JOURNEY: 3 YEARS FROM START TO OUR FIRST SALE.
¡ RAISED EUR 8.5M FROM A GROUP OF 11 ANGEL INVESTORS…

3. ANGELS: LIVING IN A REALITY DISTORTION FIELD.
ANGELS
CUMULATIVE CASH FLOW
PRE-SEED
<EUR 100k
START-UP
SURVIVAL
RATE
SEED
EUR 100-500k
EARLY-STAGE
ROUND I
EUR 500k-1m
LATE-STAGE
ROUND II
EUR 1-5m
ROUND III
EUR 5-10m
x
‘VALLEY OF
DEATH”
ROUND IV
EUR 10-30m
GROWTH
EXPANSION
EUR 30-50m
FOLLOW-ON
EUR 50m>
x
BREAK
EVEN
IPO
1/3 1/2 2/3 4/5
8-10 YEARS
THE “WHAT THE FUCK” CHART OF THE DAY.

4. MOST
ANGELS
ARE
ROCK
STARS!
FINANCIAL BACKERS.
BRAND AMBASSADORS.
ADVICE/SUPPORT.
MENTORSHIP.
CONTACTS.

5. BUT…
THERE ARE
SOME REAL
PSYCHOS
OUT THERE.

6. FOUR ANGEL TYPES
THAT WILL
DEFINITELY MAKE
YOUR LIFE DIFFICULT.
COLLECTIVE OBSERVATIONS FROM DIFFERENT ENTREPRENEURS.
SHARED WITH LOVE, CARE AND LOTS OF TEARS.

7. A
THE
SHARK.
CHARACTERISTICS:
RUTHLESS.
CALCULATIVE.
PUSHY.
DRIVEN BY:
GREED.
WHAT’S THE WORST
THAT CAN HAPPEN?
PAINFUL TERMS.
ROUGH INTERACTIONS.
BLACKMAIL AT EXIT.

8. B
THE
GOD .
CHARACTERISTICS:
IMPOSSIBLE TO PLEASE.
OPINIONATED.
SUPERIORITY COMPLEX.
DRIVEN BY:
PERSONAL GLORY.
WHAT’S THE WORST
THAT CAN HAPPEN?
NARCISTIC BEHAVIOUR.
INTRUSIVE.
CONSTANT CRITICISM.

9. C
THE
ROYAL.
CHARACTERISTICS:
SELF-CENTRED.
TAKES NO ACTION.
NEEDY.
DRIVEN BY:
LEGACY.
WHAT’S THE WORST
THAT CAN HAPPEN?
ERRATIC BEHAVIOUR.
UNDERMINING.
CONSTANT REASSURANCE.

10. D
THE
MUPPET.
CHARACTERISTICS:
EMOTIONAL.
INSECURE.
CONSENSUS-DRIVEN.
DRIVEN BY:
RANDOM.
WHAT’S THE WORST
THAT CAN HAPPEN?
REPEAT THINGS 1000 TIMES.
WANTS TO BECOME YOU.
ACCIDENT PRONE.

11. TIP FOR ENTREPRENEURS:
TIME IS YOUR
MOST PRECIOUS
ASSET – DO NOT
WASTE IT.
IF SOMETHING DOES NOT
FEEL RIGHT WITH AN ANGEL
YOU MEET, GET THE HELL
OUT!
Tha
n
You k !
!!