How VCs select investments

BARCAMP BA 2012

VANESA KOLODZIEJ @VANESAK [email protected]

• Early stage VC fund.

• Aims to transform local startups into

regional/global players.

• Based in Santiago, office in BA.

• All limited partners are entrepreneurs.

• All 5 general partners are

entrepreneurs. 2@VANESAK [email protected]

• Invests in early stage tech startups, $250k to $750k.

• Focus in mobile.

• 2MM fund size.

• In operation. 1 legacy investment, 5 new investments.

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• Invests in early stage tech startups, $250k to $750k.

• 21MM fund size.

• Operative March 2013.

MANAGING PARTNERStrategy

4

PARTNER Expansion

PARTNERPublic Affairs

PARTNER Corporate Affairs

PARTNER Dealflow

@VANESAK [email protected]

5

• Founded 7 companies, exited 3.• Did 2 LatAm roll-outs. • Participated in 1 IPO.• Invested in10 as angels, exited 2.• Founded the first LatAm accelerator,

Octantis, Santiago, 2005. • Created 1 entrepreneur program.• Directed 2 entrepreneur NGO.

@VANESAK [email protected]

• Huge markets or profitable niches.

• Competitive advantage.

• Business + Sales + Tech.

• Recurrent revenues.

• Economy of scale, extrapolation.

• No capital expenditure.

7@VANESAK [email protected]

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• Management team: experience, vertical, complete team, urgency, values.

• Equity: % by entrepreneurs, % not in the company

• Sales (if any), traction (if relevant).

• Revenue model, diversification.

• Copy cat, tropicalization, original.

• Growth potential.

• Expansion strategy.

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• Market size.• Market growth.• Market “hotness.”• Time to market.• Number of competitors.• Own portfolio, other funds portfolio.• Exits: time, value and buyer.

@VANESAK [email protected]

• Fund Philosophy.

• What are the General Partners experience.

• Which level rounds they do.

• What companies in their actual portfolio.

• Where in their investment cycle they are.

• How many partners they have, how many

investments they’ve made.10

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• How much money the company needs.

• How much money they will need next.

• Who are the previous investors.

• Who are are the current co-investors.

• Who can fund it in the next round.

• % owned by previous investors.

• % wanted by new investors.

@VANESAK [email protected]

@VANESAK [email protected]