The document discusses various options for fundraising for startups, including equity fundraising through friends and family rounds, accelerator programs, seed rounds, and Series A rounds, as well as debt options like personal loans, SBA loans, and venture debt. It provides advice on developing access to investors through personal networks and events rather than cold calls, and outlines what materials are needed for fundraising pitches, including the team, pitch deck, product demo, and financial projections. Valuation ranges for different fundraising rounds are also presented.

1. Techstars Patriot Boot Camp
Shai Goldman
April 17, 2015
@shaig
Slideshare.net
Growth and Capital Solutions

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 Silicon Valley Bank = commercial bank serving the innovation economy
 Working with tech startups and venture capitalists for 14 years
 Worked in key startup markets: San Francisco and New York
 Helped hundred of startups with their fundraising process
 Success in finding investors for startups
Background

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Debt Options
• Credit Cards
• Personal Loans
– Lending Club, Prosper, Banks
• Friends / Family
• Traditional Business Loans
• SBA
– https://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans-0
• Alternative Lending
– OnDeck, Bond Street, Fundera, etc
• Venture Debt

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 It takes A LOT of time (3 to 6 months, at least)
 It’s not fun
 It is distraction
 It is REALLY hard
 Many startups are not able to raise $ (for various reasons)
Equity Fundraising

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 Friends and Family
 $0K to $200K
 Concept and team
 Accelerators
 $15K to $200K
 Concept and team, sometimes product
 Seed Round
 $250K to $2M
 Concept, team, product and some customers/users
 Series A round
 $2M+
 Product is working well, you have good metrics, time to step on the GAS
Fundraising Rounds

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 Angels
 Accelerators
 Seed Funds aka Micro VCs
 VC Funds
 Corporate VCs
 Crowd Funding
 non-equity: Kickstarter, IndieGoGo, etc.
 Equity: AngelList, SeedInvest, OurCrowd, etc.
Type of Investors

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 Personal Rolodex
 Founders of Venture Backed startups
 AngelList
 Service Providers (Lawyers, Accountants, Bankers, etc)
 Community (co-working facilities, events, hackathons)
Don’t
 Cold email / call / tweet
 Get over aggressive at events
 Hire a broker
Access to Investors

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 Team
 Pitch Deck
 Product Demo
 Financials (projections, balance sheet, cap table)
What You Need

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 Function of supply and demand
 Seed Rounds - 10% to 30%
 Series A Rounds – 15% to 30%
 Angel.co/valuations
Valuation

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 Financial
 Education
 Commerce
 Advertising
 Media
 Social
 Healthcare
 Infrastructure
 Enterprise
Trends

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Sites
 http://k9ventures.com/blog/2012/05/31/hope-and-numbers/
 http://www.bothsidesofthetable.com/2012/01/16/how-to-develop-your-fund-
raising-strategy/
 http://www.angel.co/
 http://www.pitchenvy.com/
Books
 The Four Steps to the Epiphany - by Steve Blank
 Venture Deals – by Brad Feld & Jason Mendelson
 The Lean Startup – Eric Ries
Resources

12. Thank you.