NJTC Venture Fund Discussion（一）.pptVIP

NJTC Venture Fund Agenda NJTC Venture Fund Overview Sources of Non-VC Capital Navigating the Venture Process Summary Benefits New Jersey-focused, early stage Enable local working relationships Recruiting, vendors, service providers, capital Strategic partnering with large NJTC members Successful CEO as second director Partnered with top capital sources: LPs, other VCs Early Stage Investment Strategy Target: Concept through $5M revenue Most will have completed product development or demonstrated their service Seed funding may be provided for unique concepts Broad range of technologies Sources of Non-VC Capital SBIR and Federal research NJ Commission on Science Technology: $250K, non-equity NJ EDA: $500K, very favorable debt Customer-financed development Angels Friends and family Credit cards and vendor financing Financing Continuum Government NJ Commission on Science and Technology NJ Economic Development Authority Early Stage NJTC Venture Fund, Kemper Ventures, Early Stage Enterprises, Cardinal Ventures, Base Camp Ventures, MAVF Expansion and Later Stage Edison Venture Fund, LLR, TDH IPO Public Investors Portfolio Profile Initial investment: $300K to $2M Reserve capital for two future rounds No company 15% of fund 15-25 companies The Process Submit summary at Call the next week to discuss Meet several times over 10-12 weeks Provide details about market, partners, customers, financials Time consuming Use your advisors to streamline “Pre-Sales” Market Validation Prior success in relevant industry Others on management and sales team contribute relationships Unbiased industry experts corroborate market need Beta customers Can’t Afford a Management Team? Pursue angel and non-institutional funding while building team In meantime, obtain functional skills through: Rely on Board expertise Hire part-time CFO Impose on angel investors for their expertise Form an Advisory Board (e.g. Anacom) Use SCORE NJTC Background Founded 1997 Over 1,000 member com