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Lions Capital Corp. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
BC Advantage Funds   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Dialing for Dollars!   What do I do? Who do I sell to and what do I sell them? How do I get the money? Oops!?!
Financing Strategy   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],R&D S&M Financing
What You Need To Do - Sales Approach ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Term sheet here or here
Sources of Capital Friends & Family Government Angels Venture Capital Banks & Lenders Employees
Sources of Capital  Partners or Investment Cttee Self Credit Manager Decision Maker Diversified or Focused Focused Diversified Sector Focus Passive or Active Passive or Active Passive Degree of Participation Lots Some None Follow On Capital Slow Medium Medium Speed to Close Early Early Late Stage of Investment VC’s Angels Banks
Sources of Capital  ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],VC’s Angels Banks Government
Understanding Investor Motivations Investors Self Corporate Fiduciary Responsibility Yes No Yes Portfolio Approach 5 – 7 yrs 5 – 7 yrs 1 – 3 yrs Liquidity Horizon 2% and 20% Exit Value x % Owned Interest Rate Fee Structure Exit Value Exit Value Interest How do they get paid? VC’s Angels Banks
Sequoia Portfolio Source: www.marsdd.com Portfolio IRR
Who to Call ,[object Object],[object Object],[object Object],[object Object],[object Object]
How to Contact Investors ,[object Object],[object Object],[object Object],[object Object],Direct Introduction Most Effective Least Effective Mutual Contact Linked In Cold Email/Call Spam
Contacting Investors – First Steps ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Presentation Etiquette (?) Product? Market? People? Competition? Typically Non-Linear ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Do a Throw Away Pitch
Due Diligence ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What Investors Are Looking For ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Investors are in the business of saying No. You need to take away their reasons.
Can’t Get Money? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Can’t Get Money? Synonyms for “NO”: “ Maybe” “ We have no money right now” “ NO” “ We want to follow a lead” “ Later” “ Maybe” “ Needs a new CEO” “ It’s too early” “ Doesn’t fit our mandate”
What To Look For in an Investor ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Deal Terms and Structure The Basics: Date Amount Legal Fees Price Capital Structure Investors Pre-Money Valuation
Valuation ,[object Object],[object Object],[object Object],[object Object],[object Object],Valuation is an Art
Valuation ,[object Object],[object Object],[object Object]
Deal Terms and Structure The Not So Basics: Board Seats Common Shares Dividends Control Liquidity Preference Drag Along Preferred Shares Anti-Dilution
Preferred Shares Good Times Bad Times Investor You You Investor
Deal Terms and Structure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Debt Most Control & Security Least Control & Security  Preferred Shares Common Shares
Deal Terms and Structure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Negotiate Terms ,[object Object],[object Object],[object Object]
Close the Investment ,[object Object],[object Object],[object Object],[object Object],[object Object]
Top 10 Lies of Entrepreneurs Guy Kawasaki ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Top 10 Lies of Venture Capitalists Guy Kawasaki ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

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All About Funding

  • 2.
  • 3.
  • 4. Dialing for Dollars! What do I do? Who do I sell to and what do I sell them? How do I get the money? Oops!?!
  • 5.
  • 6.
  • 7. Sources of Capital Friends & Family Government Angels Venture Capital Banks & Lenders Employees
  • 8. Sources of Capital Partners or Investment Cttee Self Credit Manager Decision Maker Diversified or Focused Focused Diversified Sector Focus Passive or Active Passive or Active Passive Degree of Participation Lots Some None Follow On Capital Slow Medium Medium Speed to Close Early Early Late Stage of Investment VC’s Angels Banks
  • 9.
  • 10. Understanding Investor Motivations Investors Self Corporate Fiduciary Responsibility Yes No Yes Portfolio Approach 5 – 7 yrs 5 – 7 yrs 1 – 3 yrs Liquidity Horizon 2% and 20% Exit Value x % Owned Interest Rate Fee Structure Exit Value Exit Value Interest How do they get paid? VC’s Angels Banks
  • 11. Sequoia Portfolio Source: www.marsdd.com Portfolio IRR
  • 12.
  • 13.
  • 14.
  • 15.
  • 16.
  • 17.
  • 18.
  • 19. Can’t Get Money? Synonyms for “NO”: “ Maybe” “ We have no money right now” “ NO” “ We want to follow a lead” “ Later” “ Maybe” “ Needs a new CEO” “ It’s too early” “ Doesn’t fit our mandate”
  • 20.
  • 21. Deal Terms and Structure The Basics: Date Amount Legal Fees Price Capital Structure Investors Pre-Money Valuation
  • 22.
  • 23.
  • 24. Deal Terms and Structure The Not So Basics: Board Seats Common Shares Dividends Control Liquidity Preference Drag Along Preferred Shares Anti-Dilution
  • 25. Preferred Shares Good Times Bad Times Investor You You Investor
  • 26.
  • 27.
  • 28.
  • 29.
  • 30.
  • 31.