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finding funding              utrecht, january 22, 2013             herman kienhuis (@kienhuis)investment director sanomaven...
•introduction•funding   options•investment   criteria•approaching   investors
chemical engineering /mckinsey / mba / sanomafinance & strategy / productdevelopment / recruitingfamily-man / music-maker /...
Sanoma Corporation: Europeanmedia & learning group, based inHelsinki; presence in NL:• Sanoma Media: #1 magazine publisher...
SanomaVentures• Venturingarm of Sanoma Corporation, started in 2012• Strategicinvestor in early-stage internet start-ups• ...
SanomaVentures Portfolio•fashionchick.nl•veilingacties.nl•vault79.com•scoupy.nl•peerby.com•trulyyours.nl•virtuagym.com
•introduction•funding   options•investment   criteria•approaching    investors
start                            >20.000                                                                        stock exch...
• family   & friends: quickstart, trust• crowdfunding: creative projects, creating ambassadors• supplier   credit: quickwi...
•introduction•funding   options•investment     criteria•approaching    investors
criteria•team: complementary experience•product: solving customer need•market: customers, price, competition•plan: roadmap...
People: mindset vs. experience1.Team: commercial + UX + tech2.Track record in getting things done3.Unique skills, assets, ...
Product: execution vs. uniqueness1.User-centric design; new solution for  existing customer need2.Effectively simple UX3.T...
Market: bottom-up vs. top-down1.Target audience segment (“Q”)2.Launching customers’ reviews3.Alternatives and (future) com...
Plan: realism vs. hockeystick1.Resource planning & recruiting2.Focused product roadmap3.Concrete sales & marketing agenda4...
Deal: cards on the table vs. NDA1.Funding required2.Shareholding willing to give away3.Investor characteristics, value-add...
•introduction•funding   options•investment   criteria•approaching    investors
connect: introduction, linkedin, twittermail: teaser, demo-invitecall: propose 20 min. skypemeet: at lunch, at event, ..pi...
www.sanomaventures.com  @kienhuis / @sanomaventures
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bol.com Partner event 2013 - Presentatie Herman Kienhuis

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Finding Funding - Herman Kienhuis

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bol.com Partner event 2013 - Presentatie Herman Kienhuis

  1. 1. finding funding utrecht, january 22, 2013 herman kienhuis (@kienhuis)investment director sanomaventures (@sanomaventures)
  2. 2. •introduction•funding options•investment criteria•approaching investors
  3. 3. chemical engineering /mckinsey / mba / sanomafinance & strategy / productdevelopment / recruitingfamily-man / music-maker /vintage-lover / internet-geek
  4. 4. Sanoma Corporation: Europeanmedia & learning group, based inHelsinki; presence in NL:• Sanoma Media: #1 magazine publisher (a.o. Libelle, Donald Duck, VTWonen, Autoweek), #1 online publisher (a.o. NU.nl, Kieskeurig.nl, Startpagina.nl, Viva.nl)• SBS:#2 commercial broadcaster (SBS6, Net5, Veronica TV), #1 TV- guide publisher (Veronica Magazine)• Malmberg: #1 educational publisher
  5. 5. SanomaVentures• Venturingarm of Sanoma Corporation, started in 2012• Strategicinvestor in early-stage internet start-ups• Offering: cash, media, network, expertise and mentoring• Focus: online consumer media, marketing services, video, mobile, e-commerce, e-learning
  6. 6. SanomaVentures Portfolio•fashionchick.nl•veilingacties.nl•vault79.com•scoupy.nl•peerby.com•trulyyours.nl•virtuagym.com
  7. 7. •introduction•funding options•investment criteria•approaching investors
  8. 8. start >20.000 stock exchange private equity 20.000 10.000capital need (EUR x 1000) venture capital 5.000 2.500 1.000 bank loans strategic (corporate) investors 500 250 informal investors 100 50 crowdfunding supplier credit friends & family 25 preparation start-up inital growth fast growth consolidation maturity high risk low risk development phase (source: ABNAMRO)
  9. 9. • family & friends: quickstart, trust• crowdfunding: creative projects, creating ambassadors• supplier credit: quickwin, co-creation partner• informal investors: cash, network, involvement• strategicinvestor: cash, customers, expertise, network (and potential exit)• venture capital: cash, industry network• bankloan: cash (at lower cost), government guarantees
  10. 10. •introduction•funding options•investment criteria•approaching investors
  11. 11. criteria•team: complementary experience•product: solving customer need•market: customers, price, competition•plan: roadmap, marketing, cashflow•deal: funding needed, valuation
  12. 12. People: mindset vs. experience1.Team: commercial + UX + tech2.Track record in getting things done3.Unique skills, assets, relations4.Focused, decisive, persistant, passionate
  13. 13. Product: execution vs. uniqueness1.User-centric design; new solution for existing customer need2.Effectively simple UX3.Technical performance and scalability4.Proven examples
  14. 14. Market: bottom-up vs. top-down1.Target audience segment (“Q”)2.Launching customers’ reviews3.Alternatives and (future) competition4.Pricepoints (”P”)5.Customer acquisition cost
  15. 15. Plan: realism vs. hockeystick1.Resource planning & recruiting2.Focused product roadmap3.Concrete sales & marketing agenda4.Financial forecast (e.g. 24 months cashflow) based on tested assumptions
  16. 16. Deal: cards on the table vs. NDA1.Funding required2.Shareholding willing to give away3.Investor characteristics, value-add4.Request for term sheet
  17. 17. •introduction•funding options•investment criteria•approaching investors
  18. 18. connect: introduction, linkedin, twittermail: teaser, demo-invitecall: propose 20 min. skypemeet: at lunch, at event, ..pitch: investor deck, product demo
  19. 19. www.sanomaventures.com @kienhuis / @sanomaventures

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