Noam Ziv - Start-Up Fund Raising

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Financial Survival: a Financial Toolbox for the Entrepreneur

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Noam Ziv - Start-Up Fund Raising

  1. 1. ¯ Start-Up Fund Raising 26 April 2010
  2. 2. Resources • VCs • Private investors • Angel clubs • Investment banks • Incubators 2 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  3. 3. VCs • Generic VCs • Special/Vertical VCs • 1st Tier VCs • 2nd Tier VCs • Israeli/American VCs 3 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  4. 4. Private Investors (Angels) • FF • " " • High-tech exits • Families 4 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  5. 5. Investment Banking • Investment banks • “Investment Bankers” - ¯ • Angel clubs – AfterDox, StartUp-Factory 5 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  6. 6. Incubators • Private ( ) • Public ( ) 6 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  7. 7. Fund Raising Campaign 1. Setting fund raising parameters 2. Selecting between private investors and VCs 3. Campaign Management 4. Negotiation 7 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  8. 8. Setting fund raising parameters 1. 1st round = 18 months, $600K min 2. Exec summary – One-pager + 2 3. 16 slides 4. Two years expenses + quarterly table 5. Four to five years P&L 6. Break Even point end of 2nd round 8 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  9. 9. Private Investors Vs VCs 1. VCs – 1sr Tier: the $400M target value 2. Private – Three years ROI 1 to 3 ratio 3. VCs time to money: 6 months 4. VC + private investors combinations 9 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  10. 10. Campaign Management 1. 9 6 3 2. Contamination 3. Are you failing or succeeding? 4. When do you decide to change the presentation 10 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  11. 11. Negotiation 1. Funding types: a. Bridge Loan + discount/warrants b. Owners Loan c. Convertible Loan d. Venture Loan 2. Lead Investor 3. Valuation before and after money 4. ESOP dilution 5. VCs preferred rights 6. Board of Directors 11 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com
  12. 12. Good Luck 12 Start-Up Fund Raising, Noam Ziv, noam2ziv@gmail.com

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