017. Here, There, Capital

Text your thoughts directly to Rich.

Founders part of your job in a pitch is to convince potential investors that you will get to the next level on the treadmill. And to do that, you need to three things: Here, There and Capital. 

About SpringTime Ventures
SpringTime Ventures seeds high-growth startups in healthcare, fintech, logistics, and marketplace businesses. We look for founders with domain expertise, forging a path with a truly transformative technology. We only invest in software-based businesses in the USA. We bring a people-focused approach, work quickly, and reach conviction independently. Our initial check size is $400k to $600k. You can learn more about us and our approach.   

About Rich Maloy
Rich's mission is to rebuild the American dream through entrepreneurship. He works with early stage startups transforming the world, giving all people the opportunity to grow, learn and earn. With prior careers in finance and sales, he's now focused on startups investing through SpringTime Ventures where he is a Managing Partner. He's a father of two young children and loves sci-fi, skiing, and video games.  

Episode Transcript

Rich (00:01):
Before we ever collected a single investment at SpringTime
Ventures, our partner, RickPatch with decades of venture
capital experience said,"ouronly job as seed investors is to
get our portfolio companies to aSeries A." When I first heard
that I'm nodded appreciatively,but I didn't really get it.
Now five years into seedinvesting.

I see how spot on that is (00:21):
seed investors are just one step on
the VC Treadmill.
Founders part of your job in apitch is to convince potential
investors that you will get tothe next level on the treadmill.
And to do that, you need tothree things: Here, There and
Capital.
You must show that you can getfrom Here, where your businesses

(00:42):
is now.
To There, the milestones for thenext round of fundraising.
With the Capital from thisround.
You can draw that line from Hereto There with even the slightest
bit of traction.
Show what you were able toachieve with limited resources.
Describe your plans to scale,how you're going to hit the
milestones that will get youthat next round of funding.

(01:03):
The less traction that you have,the more that you have to sell
the vision.
You have to show the path fromHere to There with the Capital
that you raise.
This should not be at the costof selling The big 10 year
vision.
Rather you're demonstratingthat, you know the immediate
goals that you need to hit inorder to level up on the
treadmill.