This is a critical component to your success as syndicate backers will make their investment decision based primarily, and often exclusively, on the information contained on your profile page and in your deck. Provide as much information about your product, vision, KPIs, expansion plans, competition (and how you differentiate) and potential exit opportunities. After you have a deal with a syndicate, it is important to make sure that your company’s AngelList profile page and deck are as compelling and thorough as possible. Ideally, you’d like to work with a syndicate that has successfully syndicated deals for several companies and provides value after the close.Ģ. didn’t raise enough to close) and why he or she thinks they failed. I also suggest asking the lead how many deals they have syndicated unsuccessfully (i.e. I suggest reviewing their portfolio of syndicated companies and speaking with the founders of some of those companies to ask if they were happy with the process and if the lead and backers have provided any value after the close. Since the lead will be representing your company to the AngelList community, you want to feel comfortable that he or she will be a good ambassador. A syndicate lead who will be a good representative of your company. A syndicate lead with some knowledge of the industry you’re in.į. The syndicate backers are well connected and can add value beyond money.Į. “drones” or “pre-IPO”) that is not a fit for you.ĭ. The syndicate is not dedicated to a certain theme or stage (e.g. We always look for synergies among our portfolio companies and opportunities for them to work together.Ĭ. This is certainly not critical, but a nice benefit. The syndicate has a portfolio of companies that may be good for you to network with. Ask the syndicate lead how many backers they have, how much money is backing the syndicate and how much they have raised for other companies.ī. Keep in mind that backers are not obligated to invest - on average, syndicates raise 20%-40% of the aggregate committed amount for any one deal. The syndicate is large enough to raise the amount you will be allocating to it. What makes a syndicate a “good fit” for you? Here are criteria to consider:Ī. Even though a syndicate lead will be asking you a lot of questions to determine if he or she wishes to invest in and syndicate your company, you should also be interviewing them to make sure their syndicate is a good fit for you in order to optimize your odds of success. The first step is to identify the right syndicate for you. And by “more successful,” I mean that they have generated more interest from our community of backers and have therefore raised more money than other deals.ġ. Having syndicated 31 deals through our AngelList syndicate, Barbara Corcoran Venture Partners ( I would like to share what I have learned about what makes some deals more successful than others. Working with an AngelList syndicate is a great way to raise money and establish important connections for your company. 7 Steps to a Successful AngelList Syndication
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