Techstars Patriot Boot Camp

Shai Goldman

April 17, 2015

@shaig

Slideshare.net

Growth and Capital Solutions

2

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

3

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

4

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

5

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

6

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

7

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

8

Team

Pitch Deck

Product Demo

Financials (projections, balance sheet, cap table)

What You Need

9

Function of supply and demand

Seed Rounds - 10% to 30%

Series A Rounds – 15% to 30%

Angel.co/valuations

Valuation

10

Financial

Education

Commerce

Advertising

Media

Social

Healthcare

Infrastructure

Enterprise

Trends

11

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

Thank you.