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Our road to investment – From Pitch 1

I hope this becomes a journal and I can keep sharing various experiences as I pitch my new company to investors. Pitching is such a private affair. I will try to share my experience without bringing any negativity to those who I interact.

It took Doug Richard 48 pitches to get funding. It took a friend about 80 times. These are good benchmarks to have. My strategy is simple:

  • Speak to as many as possible
  • Don’t discount West Coast and London to bring sanity

Pitch 0 – Dow Schofield Watts
A corporate finance house, but we are too small for them right now. Got a great referral for our product and will continue to be in touch.

Credit: Paul Treloar for introduction

Pitch 1 – Prolific North

I’ve blogged about this at UnifiedVU. The outcome:

  • AXM Ventures – fully invested, so no real opportunity, but got feedback to improve pitching deck and a referral.
  • EV – Suggested I contact my friend there, which I have not yet done
  • Others were not investors, but had some suggestions

Pitch 2 – Apadmi Ventures

Got great feedback on three points and working on them.

Credit: Ray Tarr for arranging the meeting.

Pitch 3 – Chairman and Investor

Unfortunately he is moving to the USA, but will keep in touch.

Pitch 4 – Manchester Growth Company (Co-Angel Investment & Business Finance Solutions)

Had one meeting and I am yet to respond to Co-Angel Investment. They take 3% commission for introductions. Pre-revenue startups are not supported by Business Finance Solutions.

Got introduction to North West Business Angels. Meeting them next week.

Credit: Murray Leach for introducing me to Business Finance Solutions

SMALL PIVOT: Pitched and overall message changed to Customer 360º view. Ditched any focus on healthcare sector. Strengthened the team by bringing in 3 advisors.



Published inUnifiedVU