Hi! We are building a webapp that will revolutionize the productivity market. We have deployed an MVP and received seed investing for 50K USD. In order to take out app to the next level we will need to raise 500K. We are from Buenos Aires, Argentina, and raising that sum at reasonable equity here is difficult for start ups. So we are thinking of going to Silicon Valley in 3 months to pitch VCs find the right investing. My questions are:
1) Is it difficult for somebody who comes from Argentina to be funded by VCs in Silicon Valley?
2) What do you suggest in terms of scheduling meetings?
3) How should we aproach the VCs and get in touch with them, rather than just google them and send emails to their offices?
Thanks for your help!
Felicidadeds on raising $50k so far! Before you pitch to VCs, it's important to perfect your presentation with a clear ask, a compelling story and a unique value proposition. I'll bet each VC in Silicon Valley has heard from 20 people this week claiming to have a product that will "revolutionize" some part of an existing industry. Whether you're coming from Argentina or from California, you have to highlight what is unique about your product, what is your business model and what evidence suggests there's a viable consumer market.
I'd then of course advocate networking and researching each VC in advance to determine what their pitch or solicitation practice is. Start on LinkedIn and see who you're already connected to. You can add me and then my network becomes yours. You may also want to attend some pitch events if you have access to those in Argentina. See how others are pitching apps and what you can learn from them.
Most importantly, don't schedule any meetings until you have a great pitch, a professional presentation and a clear "ask" prepared. As you pitch and you receive feedback, adjust your approach to incorporate the best and most common notes you've received.
Call me any time so I can provide additional guidance for you. Hablo español tambien, (though admittedly, my Spanish is nowhere as good as my English!) y es un placer assistir a clientes en Sud America!
The short answer is yes! There is a large group of Angel Investors in the SF Bay Area where I am located. I can actually help vet your company to see if a) currently have the traction to get an angel round b) what additions you might need to make in order to be attractive to investors and c) give you some connections I have made over the years. You would not be meeting with VC's as $500k is a Seed or Angel round. As Far as equity I can go over that with you as well. Let me know if you would like to schedule a call. I actually pitched against Mad Video from Argentina if I am not mistaken. We took 2nd and they took 1st in a startup competition in front of 3,000 people.
I have 25 years of experience working with early stage technology companies and investors.
I’m often asked about fundraising strategies for VC funds and angel investors. After raising capital and exiting from multiple startups and investing through 15 venture funds and dozens of angel investments I have seen thousands of deals.
Since you are already generating some initial revenue from paid advertisers, it sounds like it is the right time to put together a plan to raise your seed round of capital.
I’ve found that the most productive use of time for both of us is scheduling a call through my profile.