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DZD1&,At what stage of the business do VCs invest?-- - 2'Who can attract VC investment?p        (Finding the right deal is the challenge!Venture Capital is: Equity investment in high risk, but high potential and high growth businesses: Looking for 100% per year or higher growth Business has potential to dominate a market VC has ability to exit in the future VCs invest in < 2% of the business plans they review<d|5d|5 5*Due Diligence: From submission to decision Complete process could take anywhere from 2 to 6 months Initial screening and analysis can quickly disqualify up to 90% of submissions Deep due diligence is an iterative process that is done on 10% to 15% of the submissions Final investment is made on 1% to 2% of deals*88'Basic screening cuts out > 50% of dealsrWas this company referred to me by someone I know? Does the deal fit with the stage of my fund? Does the deal fit with my fund s focus Technology Geography Size of investment Other mandate Are there any potential conflicts with existing portfolio companies? Is the executive summary or business plan well written?BZ6Z}Z6}]Initial analysis and dialogue with entrepreneur help narrow the funnel to 10% to 15% of deals^^BManagement Are the founders serial entrepreneurs? Ethical or moral issues at play? (zero tolerance) Market Is the target market large enough (total available market >$100M)? Can the Company become a dominant force in its market? Is the business an  enabler of future industry developments, and does it fit within the long-term structure of the industry (roadmap)? Product, Technology and Intellectual Property (IP) Does the company create or own anything truly unique and novel? Does the company/entrepreneur own the Intellectual property or are partnerships required Financial and other considerations Can it achieve objectives within available funding, and can we easily foresee where the syndicate can be formed? Can it attain $250M value (importance or market cap) in a reasonable time frame (5 to 7 years)? Is there an exit for VC down the road Is the business one of the half-dozen best deals we expect to see all year?  PYPPP3PP#PEPP 43#      b    !Due Diligence: Trust, but Verify " bDue Diligence is: Rigorous research to verify the company s claims and to understand the risks Due Diligence consists of: Checking the accuracy of the business plan Collecting data by calling (perspective) customers channel partners, ex-bosses and employees. Validating feasibility of projections (financial, business, product) Conducting patent searches, technical studies, market studies. Reviewing audited financial statements p{Z6ZZ`"" "   ( PCharacteristics of an  A executive/team ) )! We want to invest in BIG markets&!0   *"Technology and product  +#Financials and deal structure  %LIs the entrepreneur realistic about & .& . the opportunity Open, honest and  spin-free & . the competitive advantage Willing to learn and change & . managements capabilities Customer focus NOT technology focus & . deal structure & terms The  pie will grow$$  .$My contact: jennyinc@gmail.com Local angel groups: http://www.angelforum.org/ http://www.wutif.ca/ Local technology associations and news: momentum.vef.org www.techvibes.com www.bctia.orgvP2P 1(! 0(       @c0 c0 Ac034c04dc0 Recommended Readings Crossing the Chasm by Geoffrey A. 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