Farther’s Post

One of my concerns over the past 6 months is signs of the growing animosity of founders towards VCs because their initial raise was too big and now they are getting crammed down. Even more concerning is so called “founder experts” who are now telling founders to just raise one or two rounds of capital and then reach profitability so the founder can control their own destiny. Do these founders really think that professional investors are not going to make adjustments if founders begin lying by saying they are trying to build a unicorn and then abruptly build to profitability and keep the rest of the cash in the bank? If you look at a 20 year cycle, VC is still very frothy (seed rounds were $250-$500k, 15 years ago). Just build a relevant company and the rest will work itself out.

I found talking to Rhona Campbell from AccelerateHER extremely insightful regarding my Go to Market Strategy in prep for my investor picture tomorrow. for any start ups out there use what's available! I found Rhona Campbell through Barclays Barclays Eagle Labs which is 1. free 2. a simple process. being a start up is very much exploring what available and utilising it to get to the next stage! learn, make mistakes and grow.

Stephen Whyte recently jumped in on a post where I described what ADCR Capital's mission is, aside with what I currently see that is going on in the market, leading to me starting the firm. He found it spot on, that's already a good start 😅 . In the comment section, he also said: "The challenge we are seeing is the ones that have already had VC funding where the VCs seem to lack motivation to support a restructuring. How do you propose to deal with reluctant VC?" Absolutely love it when people give those open questions to see what you got - or would do, in certain scenarios. It offers an opportunity to share expertise, yet equally so, an opportunity to learn. I then replied I'd have a sitdown with that VC and get to the bottom of why they are blocking it. Typically these are companies that are not performing as they should, so VC's have all the benefits of what I describe here. That I'd also work closely together with this VC, on a strategic and board level so there is consensus on what we're building here. Or try. In case of conflict, I'd attempt to offer a path to an exit. No magic here, depends on their goals, and ambitions, and sometimes deals just don't work out. But you can sit down and talk about it, and see if there would be a potential way forward in any of those 2 directions. Get their buy-in or offer an exit. But then Stephen Whyte pointed out something to me: "Our challenge is we often engage with the founder who has a strained/nervous relationship with their investors now that the dream of being a Unicorn is dead. Here in the UK we have noticed that many investors are holding these investments in their portfolio at valuations that no longer make sense, maybe the are raising a new fund 😉. When the investment is still held at an unrealistic valuation it is hard to engage with the VC as it forces the issue on a write-down" That does quite close the door - doesn't it. See: not every situation is fixable. Sometimes there's a conflict of interest beyond your control. Not too much you can do about that one. You can try, but there are sometimes different forces at play. I found that addition from Stephen educational, worth sharing. #privateequity #founders #vc #venturecapital #tech

Yesterday's gathering was nothing short of inspirational, bringing together some of the most visionary founders in our industry. A heartfelt thank you to Victor Boyajian and Ori Miller for orchestrating such a dynamic event. The format of these 'speed dating' style networking sessions is truly exhilarating. It's a privilege to engage with founders who are not just dreaming but actively transforming industries. The support from esteemed organizations like JPMorgan Chase & Co. & Dentons is remarkable, offering both a wealth of expertise and vital capital pathways. This collaboration is instrumental in guiding ideas from their nascent stage to achieving unicorn status. At Fiskal Finance we're passionate about contributing to this ecosystem. Our goal is to ensure founders and investors have the utmost confidence in their financial and accounting frameworks, which are designed to support and sustain remarkable growth. What I cherish most about working alongside founders from diverse backgrounds is witnessing the power of ambition in action. It reinforces my belief in the limitless potential of dreaming big and the tangible outcomes of perseverance and innovation. Let's continue to dream, innovate, and pave the way for extraordinary achievements. #GrowthMindset #FinanceAndAccounting #BusinessGrowth #Fintech #VentureCapital #StartupLife #Founders

Pitching for funding at pre-seed/seed is very different to Series A+. Early stage = Investors are backing YOU (with a splash of product 💦 ) Later Stage = Investors are backing the product I've had this conversation from a few different angles over the past few weeks, both from the founder side, and the investor side. And equally heard some interesting lines of questioning being put on founders at pre-seed. From an investor perspective, pre-seed/seed is a high risk/high reward investment. Spread the bets and hope a few come off. As you go through the stages, cheques are bigger and more calculated. It's important for founders to understand this, and understand from the investors perpective. In early stage, it's more about YOU, rather then the product. In your pitch, you need to make sure the investor is coming out of that meeting thinking 'jeez they were good, no matter what the product is, they are going to build something crazy good.' You don't have a crystal ball in the early stages, so don't focus on hypothetical metrics over the next 5 years 🔮 . Showcase you understand what is needed to get there and how you are going to do. In the race of high risk/high reward, showcase just why you're the best bet. Showcase your WHY. (****and investors at pre-seed/seed, stop grilling on projected numbers. It's fine to ask to see if there's an understanding on the metrics, but some of the lines of questioning i've heard. Just no.) #growthstrategies #growthadvisory #venturecapital #startupinvestment #globalexpansion

I keep having conversations with founders who want to raise 18 months of runway, with me trying to convince them to go for at least 24 instead, not as a bear case, just as the not-setting-yourself-up-for-failure case. I’m constantly wondering where, especially first time, founders get their information and influences. Because it’s not from what’s actually happening on the ground. If this is you, and you’re raising a Seed round, and your target is 12-18 months of runway— leave a comment! How did you arrive at that decision? #startups #startup #vc #venturecapital #investing #startupinvesting #founder #founders #startupfunding

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A great start-up pitch deck tells a great story, is thoughtful about both the problem and the solution, and provides solid clues that traction is here (or almost here).

Interesting article from CNBC. This probably highlights concerns around the lack of exit opportunities for Private Equity funds and investors. On the other hand, it looks like Private Credit managers are enjoying opportunities to back tech-centric LBO and M&A transactions.