Post on 29-Dec-2015
Artemis Ventures, LLC 1999 1
Christine ComafordManaging Director
Warp Speed: Investing in Internet Time
Artemis Ventures, LLC 1999 2
Bio
Engineer, entrepreneur, venture catalyst, VC 5x entrepreneur, 2 IPOs, 3 M&A, $100
million raised in last 5 years Seed stage VC fund specializing in business
to business software/services 1 other partner, Kimball Atwood
Artemis Ventures, LLC 1999 3
Agenda
How to screen deals faster
How to make investments faster
How to grow companies faster Q & A
Artemis Ventures, LLC 1999 4
Rapid Deal Screening
DANGER: Avoid cycle-suckers!Determine investment criteria and post on
site Encourage entrepreneurs to pre-screen
themselves
Artemis Ventures, LLC 1999 5
Screening Criteria
Team (incomplete is ok, but SME is key)Market (are there multiple multi-billion
markets they are chasing?)Stage (is concept ok or is pre-beta
required?)Referral source (who from and shameless
name drop or true relationship?)
Artemis Ventures, LLC 1999 6
Via Web Site
Artemis Ventures, LLC 1999 7
Via Screening Sheet
Artemis Ventures, LLC 1999 8
Rapid Screening Tips
Funnel to pipeline in 24 hoursClear calendar for rapid due diligence if
need beMake sure CEO is:
Execution-oriented Humble, listener, not OVER-confident Opportunistic Has focused vision
Artemis Ventures, LLC 1999 9
Rapid Investing
DANGER: Invest now, due diligence laterOnce screened, either invest or bail – avoid
bridge loans!!!Use standard, fair term sheets – let
entrepreneur see template in advanceSet valuation expectations upfront – can be
very revealing
Artemis Ventures, LLC 1999 10
Deal Flow Workflow
1.0Investment OpportunitiesCollection & Distribution
2.0
Initial Screening
3.0
Preliminary Investigation
4.0
Due Diligence
Phone
Referral
Bio, Exec.Summary,Biz Plan
6.0
Rejection
Phone
5.0
Deal Finalization
Investment ofInterest
Potential Investment
Investment
Rejects Rejects
Rejects
Artemis Ventures, LLC 1999 11
Assessment Scorecards
Team Revenue Model Market Technology Summary Standard due diligence and interview forms
Artemis Ventures, LLC 1999 12
Rapid Investment Tips
Have 2 attorneys: High profile general attorney Fast moving, deal-oriented attorney
Term sheet doesn’t mean tons more due diligence – give one with 90%+ confidence
If your gut is uncertain, move on!
Artemis Ventures, LLC 1999 13
Rapid Company Building
DANGER: VCs and CEOS can be slackers…
You Need: Killer Team (always be in recruiting mode for all types of team members!)
Killer Buzz (work it, baby!) Killer Velocity (pull personal favors… often
often often)
Artemis Ventures, LLC 1999 14
Rapid Company Building Tips
Monthly sessions with board Alternate board meetings and working sessions Each board member should leave with follow
up items VCs should provide “office hours”, do special
projects
Velocity requires the right CEO
Artemis Ventures, LLC 1999 15
Have and Live By Values Add Massive Value Make and Keep Commitments Take Ownership Respect One Another Be Positive Seek Balance
- Artemis Ventures Values, version 1.1
Artemis Ventures, LLC 1999 16
Do/Does You/Your Portfolio Have These?
Right market Right product/service Right timing Right info Right priority Right connections Right team
Artemis Ventures, LLC 1999 17
The Net-Net
Minimize Risk Maximize Return
What Are You Doing To Ensure These?
Artemis Ventures, LLC 1999 18
Christine ComafordManaging Director
Thank You!