what do investors look for by jeffrey paine (vietnam satellite 2013)
DESCRIPTION
Jeffrey Paine of Golden Gate Ventures sharing an investor's perspective at the Vietnam Satellite 2013TRANSCRIPT
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What do investors look for
Echelon Vietnam Satellite 2013 Apr 17, 2013
@jpaine
[email protected] paine.co
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You are changing the world, not us (investors)
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There are founders & there are everybody else
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Lack of a big enough market who loves your product
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Shitty Ideas Lifestyle Businesses High Growth Companies
95%
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Product Sales
B2C B2B Marketplaces B2B2C
Hyper local Regional Global
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Friends/ Family Angel/Seed Funds Series-X (Serious) – Institutional Funds
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+ 4 more…and 3-4 more identified
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Investment focus
Southeast Asia (primarily) Consumer Internet Mobile Casual/ Mobile Games Infrastructure Software as a Service (b2b…) ...others...
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Our network
Limited Partner Network Personal Network
goldengate.vc/partners goldengate.vc/mentors
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Value add (as a firm) Follow-on Capital / Exits
Product (User Experience, Marketing, Growth Hacking, PR)
Recruiting
Customer/Partner/Mentor Introductions (Silicon Valley, Southeast Asia, rest of Asia bridging)
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In short.. we make stuff happen southeast asian style
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We say no >95% of the time
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We know through (pattern recognition) but
the truth is, we really don’t know
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So what do we look for?
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Talent
Market Traction
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Talent
No assholes*
Obsessed with product* Hustler
Never say die Get drunk with
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Market
New or Differentiated*
Problem + Right Audience
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Traction
Problem + Right Audience
Launched with Product Market Infatuation Fit*
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Product Market Infatuation Fit
A product that satisfy a
market with engagement data + sustainable growth
that shows “yearning love”
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4 Hacks for you
Know all three types of investors. Hustle to know them, get advice. Show them your progress Focus on Pre-Built Demand (but new & unique, have a clear differentiation) Make users love your product (launch fast) Then ideate more and think bigger
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4 investor look outs for you Investor is not fascinated about your product Person to person chemistry is out of whack*(call test) Do not network and hustles for you
Terms are too weird or uncomfortable – gut feel
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In conclusion we are looking for: "Nice cockroaches with steel balls
who understand their users well and hustle to deliver highly engaging products that they love and adore."