Hacking into the Global VC Market

1. Hacking
into
the
Global
VC
Market
Will
Cardwell
Partner,
Courage
Ventures
Adjunct
Professor,
Kenan-­‐Flagler
Business
School

2. Caveat
–
You
cannot
do
this
without
insane
talent.
So,
meet
Elviss..

3. I
used
to
think
about
capital-­‐raising
like
this
–
I
was
wrong!
Making
contact
1st
MeeKng
More
MeeKngs
NegoKaKon
&
Closing
Due
diligence
Funding
3
- Use
Networks
- Avoid
”cold”
contact
- Raise
interest
- Get 2nd
meeting
- Focus on
team and
opportunity
- Get buy-in
- Valuation,
term sheets
- Shareholder
&
Investment
Agreements
- Strategic,
legal,
financial,
etc.
- Funds
released

4. Partners to Secure
Investment
Key Activities to
Secure Investment
Value Proposition
to the Investor(s)
Investor
Relationship Mgmt
Investor Segments
Key Resources to
Secure Investment
Channels to
Investors
Total Cost of (Investment in) Fundraising Target Investment Amount
Ⓒ 2015
What
BENEFITS
does
OWNING
YOUR
SHARES
provide
AN
INVESTOR?
Angel
Super Angel
VC
Corporate
Crowd
How do you
Get on the
radar? Digital
and Physical
What tools do
you use to
retain
momentum?
How much you need ??
The
Fundraising
Model
Canvas
Exploring
Startup-­‐Investor
Fit

5. Michael
Sahota,
How
to
express
empathy
and
avoid
traps.
Start
with
Empathy
for
the
Investor,
then
do
deep
research,
then
full
throRle
execuKon!

6. Case:
Lets
Teardown
Union
Square
Ventures

7. But
were
they
right?

8. 8
Who
is
Fred?

9. INTP
–
InsighZul
Analyzer:
Examine
&
Evaluate
9
Get
the
picture?
Dominant
T
Inwardly
evaluaKng
ideas
analyKcally
and
objecKvely
Auxiliary
N
Outwardly
focused
on
possibiliKes
for
enhancing
systems
TerKary
S
As
they
mature,
consider
current
realiKes
as
well
as
possibiliKes
Inferior
F
Developmental
challenge
is
making
personal
connecKons

10. CommunicaKng
with
an
Inciteful
Analyser
At
A
Glance…
• Somewhat
detached,
indifferent,
and
impersonal
• Enjoy
thinking
outside
the
box
and
coming
up
with
new
and
untried
soluKons
• Seek
to
understand
how
things
work;
ask
quesKons
and
offer
opKons
• Comfortable
with
ambiguity
and
complexity;
create
theories,
models,
and
frameworks
• Curious,
skepKcal,
independent
minded,
exploratory,
and
insighZul
What
They
Want
to
Hear
• New
informaKon
and
ideas
and
Kme
to
reflect
and
analyze
implicaKons
• Global
goals
and
ideas
rather
than
specific
plans
or
procedures
• Dialogue
with
competent
and
knowledgeable
people
using
precise
and
exact
language
• CriKquing,
quesKoning,
and
debaKng
perspecKves
rather
than
taking
them
at
face
value
• Less
redundancy
or
staKng
of
the
obvious;
enjoy
precision
of
thought

12. Conclusion
1. Must
start
with
insane
Talent
2. Must
Tell
Compelling
Story
3. Must
use
every
Channel
4. Must
execute
like
Hell!

13. And
that’s
how
you
Hack
into
the
Global
VC
Market
Will
Cardwell
Partner,
Courage
Ventures
Adjunct
Professor,
Kenan-­‐Flagler
Business
School