Submit an online Business Summary.
Use the box below the picture to submit - or
email full package to [email protected] )
• Explain in simple terms without using jargon what your company sells and how it makes money.
• Explain how investors will make their money back, and what kind of return.
you believe is reasonable based on what other companies in your industry have done.
• You may submit additional documents including video. Keep them devoid of hype.
• You can call to insure we received your package.
When your submission is reviewed you will receive one of three responses:
• We pass on companies that don’t seem to fit our investment criteria. In
many cases these have potential to become very good companies, just not
good investments for us.
• You may be asked to do a follow up by phone or in person. This
is to learn more about your team and your opportunity than can be gleaned
from the Business Summary. You also may receive some coaching or
suggestions about how to make your company or your presentation a better fit for Us. Remember this is just the opinions of the people involved and in no way is a promise or guarantee of anything.
• Rarely do we invite companies to present just on the basis of the
application without any follow up, but it does happen.
We hold 2 monthly meetings and companies to present. You’ll have 15 minutes to give a demo, powerpoint or other presentation. (We provide a laptop, projector and screen). Then there will be 10 minutes for Q&A. (On some occasions, this may be done via video conference.)
If there is interest in your deal, usually the next step is a “deep dive” meeting. We would like to spend a couple hours with your team and any of our network
members who are interested. This is an unstructured meeting with lots of questions from network members, some of whom may dial in by phone.
A formal due diligence committee will want to look into the background of your team and company, your deals with prior investors, all your contractual obligations etc. We’ll also want to talk with key suppliers and customers (or potential customers) and pick a part the assumptions behind your financial projections. This can be enlightening to entrepreneurs as well as daunting. We would like to share (with your permission) due diligence reports with investors we might syndicate your deal to.
As the due diligence progresses, and assuming it’s positive, We will start negotiating the terms of the deal or another investor group we are syndicating with. We start with a standard term sheet and work from there.
Based on the due diligence report and the negotiated term sheet we setup the final paperwork and arrange for closing.
Usually the terms of investment give at least one member of the syndicate that invests a board seat. There may also be a spot for a board observer. You’ll be expected to submit quarterly reports to the investors. However our investors (and sometimes other network members who didn’t invest) are usually willing to help with advice, introductions and connections. It will help if you stay in touch with them beyond the quarterly reports for these reasons.
Often a company needs to raise additional funds before an exit. Having good
communication with the investors in the first round makes it easier to approach them and other network members in the future. We often bring companies in to present to our members when this happens – depending on what other presentation we have lined up at the time.
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