Show me the money -- Raising Venture Capital in the UK
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A primer in how to raise venture capital in the UK from Hemisphere Capital.
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Show me the money -- Raising Venture Capital in the UK
- 1. Show Me the Money TechMeetups 19th November 2013 Cass Business School Ma? Rothman, Managing Partner
- 2. Overview • • • • • • Hemisphere Funding strategy Investor selecIon PresentaIon Terms Timetable 2
- 3. • • • • • • Investment and advisory Focus on plaJorms Growth stage InternaIonal expansion PorJolio of six companies Raised capital in San Francisco & London over the past 13 years. 3
- 4. • Funding strategy is as important as product or markeIng strategy – Rule of the Raise • Raise more than you think you need • Raise it when you don’t need it • Raise it from people who bring more than money 4
- 5. Select investors – Stage, HNW, strategic – With industry or sector knowledge – Round ‘sweet spot’ – A network of customers and execuIves – Experience as entrepreneurs – Investment track record – Geography • Follow-‐on: – ParIcipate in the next round • Advisors & Governance 5
- 6. Presenta4on – Focus on a single business line – Address business objecIons upfront • Revenues, markeIng, opportunity size – Show don’t tell – Pitch by analogy: examples that amplify/validate – Concept vs Data driven (vision vs numbers) 6
- 7. Presenta4on content • Opportunity size: TAM, pipeline – Customers/users: how many, how long? quotes • • • • GTM Risks CompeIIve landscape: idenIfy USP Metrics: measure success – Users, partners, growth, revenues, profits 7
- 8. • Product pipeline – Where is it now? Milestones • Team – ExecuIon, experience, holes • Financials – Reasonable assumpIons – Comparables • Use of Funds • Recap the focus, forecast and funding 8
- 9. Terms • ValuaIon • Series/round • Lead & followers • SyndicaIon • ConverIble debt • Warrants/opIons • Founders shares 9
- 10. Timetable • 90 days • Due diligence – Cap table – Customer contracts – Employees • Legals • Closing • Next round – valuaIon appreciaIon 10
- 11. Ma? Rothman, managing partner ma?@hemispherecapital.com 11