Anyone here involved in Venture Capital?

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  • Anyone here involved in Venture Capital?
  • Premier Icon cb
    Subscriber

    Particularly related to early (pre-pilot) stage technologies. Holy Grail or do such organisations exist?

    Premier Icon footflaps
    Subscriber

    Our company is VC funded….

    Also look at Angel investors eg http://cambridgeangels.com/

    Premier Icon footflaps
    Subscriber

    NB They’re all vultures at heart – appear nice superficially, but they’ll get their pound of flesh (and more) from you…..

    damo2576
    Member

    How much do you want to raise?

    atlaz
    Member

    I’ve been on both sides of the VC funding shenanigans. Like footflaps says, they’ll want money eventually but super-early stage is more of a coin toss, they’ll invest in a bunch of companies and then leave the crap ones to die (or survive without extra funding at least)

    Premier Icon cb
    Subscriber

    Angels too small generally and anyone (VCs) willing to provide funding deserves its pound of flesh – I have no problems with that aspect! Looking for a two phase investment, initially 700k to build and run the pilot phase followed by a lot more!!

    Difficult place that we find ourselves in being both early stage and with high capital requirements. We have support from household name companies prominent in their fields but our technology will have these organisations as both suppliers and customers – not sufficiently core for them to invest cash.

    VCs that I have approached pretty much want guarantees and seem to have lost their ‘venture’ aspect!!

    b r
    Member

    What about a single investor?

    Not sure how you find one, although is it anything in the pharma/otc/healthcare area?

    the teaboy
    Member

    Depends on where you are and what you’ve done before.

    If you’re in a university, looking to spin out technology linked to your research, you might stand a chance. If you’re a man in a shed, less so.

    Premier Icon cb
    Subscriber

    I guess a single investor is what I am looking for – its trying to find them! We have a couple of UK based organisations interested and a couple of more random overseas funds. I need more options though! £700k tends to be significant even for single high net worth individuals!

    atlaz
    Member

    I know a couple of companies but typically they’re not early-stage investors these days unless it’s a software sort of thing.

    Premier Icon footflaps
    Subscriber

    Pretty standard amounts for a company making stuff. Normal seed funding is around $1m, then normally a 1st round of $5m ish 12-18 months later. I know companies who have raised that both from Angels and VCs.

    Premier Icon cb
    Subscriber

    I’m a start up with technology externally verified by a well known engineering consultancy. I have the pilot designed and costed by another well known process engineering outfit but I’m not linked to a university. The technology is patented here with applications pending overseas. The technology is market focussed rather than a hair brained idea that will save the world!

    Premier Icon footflaps
    Subscriber

    NB Think we’ve had about $100m so far from VCs, although it was never expected we’d last this long without either folding or an IPO. Seem to be stuck in the no-man’s land of too big to let fail, yet not quite big enough to ‘make it big’.

    Premier Icon cb
    Subscriber

    What sector are you footflaps?

    damo2576
    Member

    Too small for VC interest I’d imagine at a £700k raise. I would look at Angel syndicates which would be much more around this level and frankly have a bigger appetite for risk with the various EIS incentives.

    I have raised money with a syndicate from http://www.lbangels.co.uk/

    Also know a similar private fund with perhaps the right appetite, will email you.

    damo2576
    Member

    Oh and is this a product or web service?

    Premier Icon cb
    Subscriber

    damo – its actually both, happy to go into more detail off line if you have contacts that might be interested.

    Cheers

    PS I expect to pay a finders’ fee!

    EDIT – after your edit! Its a technology from which we expect to make a product, its not software related.

    Premier Icon footflaps
    Subscriber

    What sector are you footflaps?

    Telecoms. We make Hardware, so it’s an expensive business.

    damo2576
    Member

    cb – just emailed you…

    Premier Icon footflaps
    Subscriber

    Too small for VC interest I’d imagine at a £700k raise

    Not at all. It’s only a seed round, so they like to start small and if the milestones are met, they’ll follow on with substantially more….

    Our first round was $1m = £700k ish. We’ve since had another $99m in several follow on rounds. As the rounds get bigger, you normally add bigger funds e.g. we have added Samsung and Accel along the way.

    Premier Icon cb
    Subscriber

    damo – have emailed you back!

    Thanks

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