Keynote: Building Canada's Largest Angel Network: Our 5 biggest mistakes & What we Learned by VA Angels - Arabnet Digital Summit 2017
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Speaker: Luke Krueger, President, VA Angels International @luketkrueger @VA_Angels Conference: ArabNet Digital Summit 2017
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Keynote: Building Canada's Largest Angel Network: Our 5 biggest mistakes & What we Learned by VA Angels - Arabnet Digital Summit 2017
- 1. So I married an axe murderer, (and other mistakes) on the road to building Canada’s largest Angel Group. a division of: 1
- 2. About VA Angels? ● 15 years - 144 companies - $51M ● Largest & most active Angel Group in Canada ● Increasingly active in LatAm, Asia and Africa ● Help the players become more sophisticated 2
- 3. #1. If you don’t want bad exits, don’t do bad deals 3
- 4. ● Deal Quality. Angels win with proprietary deal flow ● Invest time in your startup community ● Getting in isn’t the hard part, it’s getting out 4
- 5. #2. ‘I’ll Never Raise Another Round’ 5
- 6. TheFundingEcosystem Self Funded Grants 3 F’s Govt Research Grants Seed Angels Govt Grants Series A Angels VC Series B VC Go Public? Series C M & A Exit $250K $0-50K $1M $50-150K $1.5-4M $100K-1.5M $4-12M $0.5-3M $12-36M $5-10M $76-120M $10M+ 6
- 7. ● We put too much money in early rounds ● On average our group gets 4 ‘cash calls’ ● Save some ‘dry powder’ 7
- 8. #3. The Philanthropist Becomes an Investor 8
- 9. ●Also called ‘entrepreneurs with money’ ●Understand funding rounds and the players ●Know the mechanics of early stage investing ●Know how much $ you are willing to put into this asset class 9
- 11. ● Move fast on great deals or others will ● If you are oversubscribed, move quickly ● Interest will drive valuation 11
- 12. ‘Canadian startup Skip The Dishes, sells to the UK’s ‘Just Eat’ for $200M’ 12
- 14. ● Entrepreneurs need to be coachable ● Are they listening to you? The market? ● Great tech or product won’t cover up ‘founderitis’ 14
- 15. ● Know your founders ● Quality of entrepreneur = quality of the deal ● The data is in. Greater DD = better returns 15
- 16. The best investors do this... ● Build deal quality in their startup community ● Understands the funding rounds and saves ‘dry powder’ ● Have a strategy going in because they are an investor not philanthropist ● Move quickly when a deal is hot ● Avoid a mad founder, no matter how good their tech is 16