[PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A...

22
1 Confidential – Trade Secret Kate Mitchell, Scale Venture Partners, @KateDMitchell Pre-Money Conference June 27, 2014 The Fundraising Trenches: How We Closed a $300M Fund… Faster Than We Expected

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"The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

Transcript of [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A...

Page 1: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

1Confidential – Trade Secret

Kate Mitchell, Scale Venture Partners, @KateDMitchellPre-Money Conference June 27, 2014

The Fundraising Trenches:How We Closed a $300M Fund…Faster Than We Expected

Page 2: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Just Mastering the Game

• Fund I - Captive

• Fund II – Captive Spinout

• Fund III – 1st Raise 2008/9

• Fund IV – May 2013

Page 3: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

The ViewFrom Fund IV

Page 4: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

The View Towards Fund V

Page 5: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Environment

Page 6: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Venture FundraisingIndustry Becoming Right Sized

$120B

20

60

700

300

500

100

# ofFunds

VCCapital Raised

($B)

VC Capital Raised

# of Funds

Source: Thomson Reuters and NVCANote: 2012YTD denotes Q1 2012

19

95

19

96

19

97

19

98

19

99

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

1Q

20

14

Page 7: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

The Last 5 Years…

Venture Raised: $92.5B

Page 8: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

The Last 5 Years…

Venture Raised: $92B

Venture Invested: $133B

The “Overhang” OfUnfunded CommitmentsIs Gone

Page 9: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

“Survivability is thrivability. You have to be alive to win”

»Early VC lesson

Page 10: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Lessons LearnedFrom Entrepreneurs

Page 11: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Lessons LearnedFrom Funding Entrepreneurs

Page 12: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Understand Product/Market Fit

• Clear Strategy• Fit on Investing Continuum• Ability To Deliver Cash Multiples• Test The Market

Page 13: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Know Your Customer

• Mission• Appetite • Investing “Map”• Purchase History• Process

Page 14: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Best CEOs Develop New Sources of Capital

…Years Before Needing It

Page 15: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Build Customer Relationship

• Contact Builds Trust

• Knowledge Reduces Risk

• Do What You Say You Do?

• Transparent @ Failures & Success?

• LPs Have Pattern Recognition – Listen!

Page 16: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Invest In Your Product Launch

• Data

• Process

• People

• Message

Page 17: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

ScaleVP Knows Scaling

BeforeInvesting

After Investing

Page 18: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Page 19: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

92 Days…

• Newest Relationship – 3 Years Old

• Diligence Completed...Not Started

• Beneficiary of LP Concentration

• Never Assumed Success

• Honest About Process

Page 20: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

93rd Day…

• Focus on Delivering Product: $$$

• Continue Relations For Next Raise

Page 21: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

@KateDMitchell

Page 22: [PREMONEY 2014] Scale Venture Partners >> Kate Mitchell, "The Fundraising Trenches: How I Closed A $300M Fund In 92 Days"

22Confidential

Kate MitchellScale Venture Partners

www.scalevp.com (650)378-6000

[email protected]@KateDMitchell

http://www.scalevp.com/
http://www.scalevp.com/
http://www.scalevp.com/
http://www.scalevp.com/

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