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How early stage investors in NYC/London think

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How early stage investors in NYC/London think - based on a few frameworks

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How early stage investors in NYC/London think

  1. 1. How early stage investors in New York/London think about investing
  2. 2. Tak Lo • Started at Techstars, NYC; Moved to London to help Techstars start there • Advisor at Tech City UK and Guest Lecturer at London Business School • Worked with over 40 companies that have raised > $67.1m • Ex management consultant and investment banker; soldier turned entrepreneur turned investor • Pretend academic (Economics, MBA) @tak_lo
  3. 3. Early stage investment frameworks My framework @tak_lo Techstars framework London angels’ network
  4. 4. Techstars • Founded 2006 • David Cohen & Brad Feld • 600+ Companies • $1.8bn+ raised @tak_lo
  5. 5. Worked for 20+ programs now, vertical & corporate programs, international (UK, Germany, Israel, South Africa) Idea < Market < Traction < Team, Team, Team Techstars framework @tak_lo
  6. 6. Techstars framework Idea @tak_lo
  7. 7. Market Techstars framework @tak_lo
  8. 8. Market Techstars framework @tak_lo
  9. 9. Techstars framework Traction Source: http://www.bothsidesofthetable.com/2010/11/15/invest-in-lines-not-dots/ Time Key metric @tak_lo
  10. 10. Techstars framework Team High Low Low High Competence CultureSource: http://www.feld.com/archives/2012/12/hire-for-cultural-fit-over-competence.html @tak_lo
  11. 11. How the most active angels in the London ecosystem think Jon Bradford ex-MD at Techstars Chrysanthos Chrysanthou Notion Capital Eileen Burbidge Passion Capital Doug Scott Potential Richard Fearn Independent Jeremy Yap Independent @tak_lo
  12. 12. Some of what they’ve invested in @tak_lo
  13. 13. The 5 things the top angels in the London ecosystem focus on Be smart money Bet on crazy Get their hands dirty Be the startup CCO Syndicate @tak_lo
  14. 14. My framework @tak_lo
  15. 15. My framework Team ValuesFounder Values vs @tak_lo
  16. 16. My framework Founder Self-Awareness “Knowing others is intelligence; knowing yourself is true wisdom. Mastering others is strength; mastering yourself is true power.” @tak_lo
  17. 17. My framework Founder Resiliency Source: https://www.ted.com/talks/angela_lee_duckworth_the_key_to_success_grit?language=en @tak_lo
  18. 18. My framework Team Execution @tak_lo
  19. 19. My framework Team Camaraderie @tak_lo
  20. 20. Other things @tak_lo Soft things 90% of the angel game Don’t go for board seats, control Unless you’re a super angel or leading, you don’t set the terms Don’t put more than you can afford to lose Valuations mean nothing
  21. 21. And don’t worry about exits @tak_lo
  22. 22. Resources Dave McClure’s post: https://500hats.com/99-vc-problems-but-a-batch-ain-t- one-why-portfolio-size-matters-for-returns-16cf556d4af0#.q6hv0t1za David S Rose: Angel investing: The Gust Guide to making money and having fun investing in startups, his TED videos, and his slides Brad Feld: http://www.feld.com/archives/2011/08/the-techstars-mentor- manifesto.html @tak_lo
  23. 23. Special acknowledgements Chrysanthos Chrysanthou Notion Capital Jon Bradford ex-MD at Techstars @tak_lo
  24. 24. Post Script • I blog at www.taklo.co • Can be reached at tak@taklo.co @tak_lo

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