Raising a Seed Round from Lerer Ventures

Steve Schlafman
Steve SchlafmanFounder Coach & Angel Investor at High Output
Raising Seed Capital

    Steve Schlafman
        @schlaf
@schlaf
• Est. January 2010
• Based in Soho
• Active seed fund
• 125+ companies
• Internet-enabled services, apps
  and devices
• Consumer + B2B
• Value-add advisors
• Entrepreneur friendly
Investment Focus
      B2b          Consumer
Types of Funding
Debt / Credit Cards   Family & Friends   Venture Capital




  Crowdfunding          Customers            Grants
Choosing The Right Investor(s)
   Location   Expertise / Focus   Partners




    Brand      Relationships      Strategy
Accelerators
Incubators
Notable Angels in NYC




 Chis Dixon      Rick Webb         Kal Vepuri      Ben Sun
Hunch / Ebay   Barbarian Group   Trisiras Group   LaunchTime




Mike Lazerow    David Lerner      David Rose      Esther Dyson
Buddy Media      Columbia         NY Angels          Angel
Notable Angels in NYC




Gary Vanyerchuk    Joanne Wilson     Jeff Pulver    Josh Stylman
 Vanyermedia      The Gotham Gal   140 Conference   Reprise Media




Peter Hershberg     David Tisch    Jerry Neumann    Fabrice Grinda
 Reprise Media      TechStars       Root Markets         OLX
NYC Seed Funds
NYC VC Funds
NYC Strategic VCs
How to Connect w/ VCs
 Events + Classes    AngelList     Twitter + Blogs




  Your Network      Accelerators     Founders
Our Investment Process
    Warm Intro           Review Product + Plan           First Meeting




                     1                           2




                                                                         3
 Negotiate / Close          Partner Meeting               Diligence




                     5                               4
What We Look For
   Kick Ass Team         Compelling Story   Big Markets




Differentiated Product   Traction + Data    Distribution
Things We Value
Action Not Analysis   Strong Culture     Customer Obsession




   Data Driven        Hustle / Hacking      Great Design
How To Prepare
Speak w/ Founders   Polish + Refine Deck   Nail Product Demo




Know Thy Customer      Define Brand           Questions
Advice from Founders
Know Thy Gatekeeper   Don’t Have All Answers   Show Traction




  Market Expertise    Understand CAC / LTV     Land Anchor
The Pitch Deck (1 of 2)
    Title               Problem                 Vision / Mission




   Market         Customer Acq.                Product / Solution




            Confidential – Do Not Distribute
The Pitch Deck (2 of 2)
    Revenue                  Roadmap                  Traction + Milestones




 Team / Advisors      Projections / Metrics                 Funding




                   Confidential – Do Not Distribute
After The Pitch
 Get Feedback        Follow Up         Review Notes




 Tweak Product   Debrief w/ Advisors   Stay Positive
Not Easy, But Rewarding
1 of 23

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Raising a Seed Round from Lerer Ventures

  • 1. Raising Seed Capital Steve Schlafman @schlaf
  • 3. • Est. January 2010 • Based in Soho • Active seed fund • 125+ companies • Internet-enabled services, apps and devices • Consumer + B2B • Value-add advisors • Entrepreneur friendly
  • 4. Investment Focus B2b Consumer
  • 5. Types of Funding Debt / Credit Cards Family & Friends Venture Capital Crowdfunding Customers Grants
  • 6. Choosing The Right Investor(s) Location Expertise / Focus Partners Brand Relationships Strategy
  • 9. Notable Angels in NYC Chis Dixon Rick Webb Kal Vepuri Ben Sun Hunch / Ebay Barbarian Group Trisiras Group LaunchTime Mike Lazerow David Lerner David Rose Esther Dyson Buddy Media Columbia NY Angels Angel
  • 10. Notable Angels in NYC Gary Vanyerchuk Joanne Wilson Jeff Pulver Josh Stylman Vanyermedia The Gotham Gal 140 Conference Reprise Media Peter Hershberg David Tisch Jerry Neumann Fabrice Grinda Reprise Media TechStars Root Markets OLX
  • 14. How to Connect w/ VCs Events + Classes AngelList Twitter + Blogs Your Network Accelerators Founders
  • 15. Our Investment Process Warm Intro Review Product + Plan First Meeting 1 2 3 Negotiate / Close Partner Meeting Diligence 5 4
  • 16. What We Look For Kick Ass Team Compelling Story Big Markets Differentiated Product Traction + Data Distribution
  • 17. Things We Value Action Not Analysis Strong Culture Customer Obsession Data Driven Hustle / Hacking Great Design
  • 18. How To Prepare Speak w/ Founders Polish + Refine Deck Nail Product Demo Know Thy Customer Define Brand Questions
  • 19. Advice from Founders Know Thy Gatekeeper Don’t Have All Answers Show Traction Market Expertise Understand CAC / LTV Land Anchor
  • 20. The Pitch Deck (1 of 2) Title Problem Vision / Mission Market Customer Acq. Product / Solution Confidential – Do Not Distribute
  • 21. The Pitch Deck (2 of 2) Revenue Roadmap Traction + Milestones Team / Advisors Projections / Metrics Funding Confidential – Do Not Distribute
  • 22. After The Pitch Get Feedback Follow Up Review Notes Tweak Product Debrief w/ Advisors Stay Positive
  • 23. Not Easy, But Rewarding

Editor's Notes

  1. www.twitter.com/schlafwww.rebelmouse.com/schlaf
  2. Check out startup genome / angel list
  3. Check out startup genome / angel list