Lisbon February 2011 Private and Confidential

Lisbon, May 2016

Startups Approaching Investors

Private and Confidential

Startup Funding Lifecycle

2 Sources:www.fundersandfounders.com-“HowStartupFundingWorks”

Differentinvestorsforeachcompanystage

SeedInvestorsdealwithseveralrisks:•  (High)Business•  (High)TeamProfile•  (Medium)Technical

Private and Confidential

Venture Capital Fund Manager Lifecycle

3

INVEST

Manage Divest

• Acquireequityofstartupcompaniesthatpresentdisrup4veinnova4onsorbusinessmodels

X €

α.X €

• Helpthecompanytodevelopandsellproducts

• Supportnewfundingrounds

• Sellequityposi4ononthecompany

ProfessionalInvestors

FUND MANAGER

Private and Confidential

What is a VC looking for in a Startup?

4

Relevantmarketneed/problemmustexist

(eventuallynotverbalized)

VCInvesLment

RelevantMarketNeed

Disrup4veprotectedsolu4onansweringmarketneed

withmeasurablebenefits

Innova4veSolu4on

Mone4zablesolu4onthrough

acessiblepartnerships,competences

(…)

SustainableBusinessModel

Technicalknowhowofthe

solu4onandacomplete

commitmentandresiliencetothe

company

SolidTeam

Investmentpropose

(milestones,capital,exits…)alignedwithVC

strategy

ANrac4veInvestment

Whatfeaturesdoesastartupneed/addresstohavetosuccessfullyfulfillthisjourney?

VCDivestment

Private and Confidential

What to show to a Seed Investor

5 Sources:DocSend–“Whatwelearnedfrom200Startupswhoraised$360M

Averageseeddecklength=19pag.

Private and Confidential

Getting in touch with Investors

6 Sources:CBInsights–www.cbinsights.com/blog/tech-periodic-table/

Playersthatcanhelp:• Incubators/Accelerators• Universi4es• TechnologyTransferCenters

USExample

Lisbon February 2011 Private and Confidential

Lisbon, May 2016

Startups Approaching Investors