But that was two more than I expected, looking at the event on meetup.com
Turns out others had booked directly on Eventbrite.
Now I have used Eventbrite before but mainly go to meetup.com
So, on my return home I made sure the app was loaded on my iPhone (my main phone now, ladies) and had a butcher's (= look).
There is a lot of stuff on there.
The VC speaking was from a clean tech VC firm but his points were still pertinent. Here are the takeaways (omitting any ones that have been mentioned by others before):
Things VCs like:
- fast market entry
- early adopters
- short sales cycles
- fast feedback
- steady growth (they love them some steady growth)
- coffee kitchen culture
- kiss
also:
- don't follow every opportunity
- when communicating with key or potential stakeholders, CC the others who should (but maybe aren't) aware that you are in contact with their colleagues
- revenue x up to 10 as valuation
- Munich Venture Partners invest 1 -5m€, then 3- 5m€ often with other investors.
- Expected 3 to 5 times investment as return, ideally 10x
- Accept a lower valuation rather than impossible milestones, crappier liquidation preferences and persuade your exiting investors likewise. Also a valuation which is too high leads to a down round at the next funding series.
- Talk with VCs before you need investment, keep it informal
- Growth expectation is officially 10x but lower growth acceptable
- Aim for 50 - 100m€ to arouse the VCs interest
VC equity:
- 10 - 50%
- 15 -25% is healthy
- call the ball park 20%
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