Re:Drafting your first investment round.
by andreasklinger on Monday May 06, 2013 @11:11AM
(#5662798)
OP here.
I would love to try something here. The goal is to have a good source for early stage founders.
And my advice - in the end - is also just one opinion. I would love to hear yours.
If you got your own insights to add (or spot errors) I would recommend you to submit your changes via draft[1]. I will add them step by step.
Re:Drafting your first investment round.
by staurimas on Monday May 06, 2013 @12:09PM
(#5663074)
Right. Every founder should look for A-level co-founders as well as A-level investors. The only thing I would make more clear here is how long does it take to find those A-level people and close investment round. Founders have to multiply by two whatever number they have in their head :) Closing round alone takes about 4 months in average. The worst thing that can happen is to get short on money while looking for investment. This not only makes things complicated for startup, but also scares away investors. So it is very important to save/earn enough money in order to get more (smart) money.
Good poker players have at least 100 stakes (the amount they can loose in one game) in their bankroll. This way they can avoid short term harmful decisions. If this comparison makes sense...
Post is great like many other recent presentations/posts by Andreas and def deserves retweet :)
Re:Drafting your first investment round.
by andreasklinger on Monday May 06, 2013 @12:11PM
(#5663085)
thx for the kind words.
agree on your point about the fact that it just might take to long to close a round if you reach for a-level.
it's more about a more strategic approach to drafting the round
if you reach a or b or c in the end is a different topic. but at least you reach the right direction in each area
Re:Drafting your first investment round.
by missy on Monday May 06, 2013 @11:50AM
(#5662977)
What I like is that its an honest hands on approach from a founders view with the thus resulting experiences. I work as a VC and I could not explain these observations in the same way and give the feeling of being with you in a bar in a founder to founder relationship.
Re:Drafting your first investment round.
by sgs1370 on Monday May 06, 2013 @12:07PM
(#5663064)
Great article. For something even more in-depth, see Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist by Brad Feld http://amzn.com/0470929820 (I just finished reading it, and found it extremely informative.)
I would love to try something here. The goal is to have a good source for early stage founders. And my advice - in the end - is also just one opinion. I would love to hear yours.
If you got your own insights to add (or spot errors) I would recommend you to submit your changes via draft[1]. I will add them step by step.
[1]: https://draftin.com/documents/57927?token=tGIgh5zd28S0cGt0Yy...
Good poker players have at least 100 stakes (the amount they can loose in one game) in their bankroll. This way they can avoid short term harmful decisions. If this comparison makes sense...
Post is great like many other recent presentations/posts by Andreas and def deserves retweet :)
Cheers @staurimas
agree on your point about the fact that it just might take to long to close a round if you reach for a-level.
it's more about a more strategic approach to drafting the round if you reach a or b or c in the end is a different topic. but at least you reach the right direction in each area
Look forward to reading more :)