finding and securing funding for your startup: an overview
TRANSCRIPT
Funding Overview: Angels, VCs and MeLattice Ventures
Today’s Focus
Funding for my startup
Accessing investors
Process for Funding
Getting the deal done
Q&A
Lattice Ventures
Lattice Ventures invests in network effect tech companies with interests in:
● Horizontal tech● Labor● Wealth creation and retention● Marketplaces
Led by Partners Brittany Laughlin and Vanessa Pestritto
Lattice Ventures TeamVanessa Pestritto Experienced Seed Investor and startup mentor.
Former Executive Director of New York Angels ● Directed 130 seed stage financings at
NYAngels, screened 5,000 companies● Network of vertical industry experts ● New York Tech Ecosystem Native● Mentored and Advices Investors,
Entrepreneurs and Operators
Brittany LaughlinExperienced Series A Investor and 2x exited entrepreneur.
Former GM at Union Square Ventures, top ranked VC fund by IRR, built 4,000+ operator network.● 58 financings at USV: 36 early stage, 6
growth stage, 16 follow-ons● 16 exits (4 $1B+): 3 IPOs (Etsy, Lending
Club, Twitter), 8 M&A (Tumblr), 5 closes
Sold to Groupon Exit to VetsinTech
4Confidential & Proprietary
Funding for my Startup
Why are you raising capital? Should this be a venture backed business?
When to raise capital?
How Much should I raise?
Owning your pitch - Before, during and after raising capital
Where is the money? Accessing Capital
Networks
Grants
Universities and other competitions
Angel Groups
VCs
Understanding investment interests, timeline to process, and past investments
Funding Process
Preparing your deck and submitting materials
Understanding and Qualifying Potential Investors: Angels, Angel Group or VC Investment Interest(s) and Process
Pitch Deck
Pitch Meetings
Funding Process
Due Diligence at the seed stage - Team - Is this the team to do this?- Market - Is the opportunity big enough? - Problem- Product- Revenue Model- Sales/Marketing- Competitors and Competitive Advantage- Financials- Customer, if any- Previous Funding History
Funding Process
Term Sheet Debt vs Equity Valuation Other Key Terms related to:
- Control of Company - Ownership- Protections and Preferences in future financings and liquidity events
Getting to Yes and Closing the deal
Follow up
Provide requested materials
Manage expectations on both sides of the table
Keep committed investors updated
Continue to work on your company/ product/ idea
Work with your legal team to get docs in order to close the round
Appendix
Perfect Your Pitch bit.ly/PitchToolkitWhat do you do? Day job vs Bigger Picture of what you do
Who are you? Professional Story Personal Story
What you need From situations Goals Short term: Attainable and concrete Long term
What can you offer? If you are going to be asking for something, you should readily be able to offer something.
Insights into Fundraising
Provided for Entrepreneurs and Approved by Investors
Pitch Your Waybit.ly/PitchYourWay