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Semelhante a Raising Venture Capital in a post credit crunch world
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Raising Venture Capital in a post credit crunch world
- 1. 3 ways to strengthen your pitch in a “crunched” climate Edward French, 27th January 2009
- 2. Contents • The credit crunch in the VC world • A picture of how VC’s see the world • How the credit crunch effects deal selection • How the credit crunch effects deals • 3 ways to address the issues 2 http://flickr.com/photos/jurvetson/338613504/
- 3. Enterprise Ventures • Raised ~£40m in technology funds – Preference for early-stage – Preference for the North – Ideally £100k-600k to start, £500k-£2m ultimately • Approximately 40 deals to date • Software, Medtech, Green, Web, Telecoms • Only specialist team in the North 3
- 4. The current environment • US VC rounds carnage US Venture Fundraising • UK not so bad $12 $10 $8 • Main issue is managing uncertainty $6 $4 $2 $0 Q4 2007 Q4 2008 4
- 5. Someone just raised the bar! 5 http://flickr.com/photos/thatpicturetakr/2461107564/
- 6. “Lines of equal return” 6
- 7. How the world looks to VC’s 7
- 8. Pre-Credit Crunch: VC’s objective 8
- 9. Post-Credit Crunch: VC’s objective 9
- 10. Pre-Credit Crunch 10
- 11. Example business: before the crunch 11
- 12. Effect on your proposition: sales 12
- 13. Effect on your proposition: financing risk 13
- 14. Add people • Better people cost less for good companies • Look for Non-Exec Directors with venture experience • It’s a great time to find people – Listen to them – Good VC’s will help you find them if they’re interested 14 http://flickr.com/photos/batmoo/61938659/
- 15. Effect on your proposition: financing risk 15
- 16. Focus • Cut as much stuff out of your offering as possible- focus on the special bit – You can add stuff back later • Look for entry sectors and talk to everyone in them – Not 1% of a $1bn market – Replace superlatives with data • Get endorsement from people in that sector – preferably customers 16 http://flickr.com/photos/ihtatho/627226315/
- 17. Effect on your proposition: financing risk 17
- 18. Communicate effectively • Keep your presentation simple and say what the service IS! • Build the “autheticity” – Use the data lavishly and the projections sparingly – Be really frank about everything • Get endorsement from people in that sector – preferably customers – Try asking for a small order for something – Let the endorsements speak for you 18 http://flickr.com/photos/brianscott/133789806/
- 19. Effect on your proposition: financing risk 19
- 20. Summary • It’s going to be harder than it was to raise capital • Grow organically, Business Angels, Lottery, do a different business? • Use great people to help you • Focus • Communicate well and authentically! http://flickr.com/photos/ghost592/800142823/ 20
- 21. Contact Details Edward French Email Edward.french@enterprise- ventures.co.uk Phone 07966 347407 Yuuguu ID edwardmfrench@gmail.com Website www.rsgf.co.uk Blog techgain.net 21
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