"how do vcs support their startups from seed to series a?" by romain lavault
Post on 13-Apr-2017
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#TFWORKSHOP
HOW DO VCS SUPPORT THEIR STARTUPS FROM SEED TO SERIES A?
ROMAIN LAVAULTGENERAL PARTNER @ PARTECH VENTURES
@ROMAINLAVAULT
2 Partech Ventures - Confidential
About me… • Engineer & Rocket Scientist • Married and Father of 3 • Aircraft Pilot and Boxer
• 10 years as Startupper in Machine Learning Software • Raised 5M€ in Seed in 2002 • Exit for $36M in 2011
• VC since 2013
• Raised 2 Seed funds, 3rd in progress
• Made 63 investments in Europe and US
• Sold companies to:
3 Partech Ventures - Confidential
Team mates - in San Francisco, Paris, Berlin
Omri Benayoun General Partner
Philippe Collombel Managing Partner
Bruno Crémel General Partner
Nicolas El Baze General Partner
Reza Malekzadeh General Partner
Mark Menell General Partner
Jean-Marc Patouillaud Managing Partner
Olivier Schuepbach General Partner
Otto Birnbaum Principal
Jai Choi Venture Partner
André François-Poncet Senior Associate
Boris Golden Principal
Romain Lavault General Partner
Christelle Pariat Chief Financial Officer
Marie Raichvarg General Partner Partech Shaker
Nico Valenti Gatto Open-innovation Principal
Marie-Hortense Varin Senior Associate
Delphine Villuendas General Counsel
Alban Wyniecki Principal
Claire Godron Senior Associate
Emmanuel Delaveau General Partner
5 nationalities, an average of 12 years of investment experience, 50 deals closed in 2015
5 Partech Ventures - Confidential
What makes me tick (these days)
1. Augmented / Virtual Reality
2. Artificial Intelligence / Assistants
3. Enterprise Bots
4. On-Demand Economy
5. HealthTech
6. CyberSecurity
7. EdTech
8. FinTech / InsurTech
9. IoT & Consumer Hardware
10. Blockchain as a service
6 Partech Ventures - Confidential
Exceptional Team Story & Purpose
Momentum Emerging Tech /Markets
What we look for in Seed
12 Partech Ventures - Confidential
Funding and Exit Value are correlated
Source: Crunchbase
The average successful US startup has raised $29.4M and sold for $155.5M (5.3X) The average IPO-ed startup raised $162M before going public
17 Partech Ventures - Confidential
Raising from a VC: it is not about money
We are enablers & influencers: • Create suitable conditions for growth
• Help you hire game-changing talents
• Ask the right questions to help you think & decide
• Provide feedback, advice, guidance & insights
• Share patterns, frameworks, data & best practices
• Be there to listen, coach & empower you
• Connect you with the right people / open doors
• Facilitate next financing rounds and M&A.
18 Partech Ventures - Confidential
Case Study KEY STEPS • Met Founders at ScPo incubator • Raised 1M€ round • Decision to triple burn rate • Partech Shaker + telesales • Recruited top guns (COO, CMO) • Acquired competitor • Opened office in SF + 3 countries • Sell to 33 countries (1,000 clients) • 70 people after 12 months • 130 integrations/partnerships • Signed with Accor Group • Second round • Acquisition by Booking.com
19 Partech Ventures - Confidential
Monthly Email Update* Strategy Sessions
Network w/ Portfolio Real-time Crisis Mgmt Share Hiring Plan
Here is how to get the most value from your investors:
*Include what’s going well / not well, key metrics, hiring update, financing update, roadmap, help wanted
Specific Intros
The Slingshot effect in practice
20 Partech Ventures - Confidential
Shipping your product: from Beta to 1.0
• Only ship features that work perfectly
• Customer support from Day 1
• Track users throughout the
funnel and inside product
• Learn how adopters use your product
• Communicate constantly with user base
22 Partech Ventures - Confidential
What to track (for Series A)
• DAU/MAU • Cohorts • Conversion rates • Session times • Virality (if any) • CPV/CPI/CAC • Repeat business • LTV (if any)
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