FINANCIALS OF EARLY-STAGE STARTUPS: DO THEY MATTER?

The development of technology is uncertain, new industries can be created by the market leaders, the commitment and implementation skills of the team are difficult to foresee, much of the investment decision comes down to negotiations. Considering all this, why bother looking into the numbers? Especially for those with purely a technology and marketing background,[…]

WHERE ARE EARLY-STAGE INVESTMENTS GOING?

Smart money from startup investors follows ever changing trends in terms of sector, region, stage, and instrument. Startup investors, including business angels, VCs, family offices and corporate VCs can invest directly into startup investment rounds, or join co-investment funds, syndicates or invest in other funds. Funds are increasingly set up as specialised sector funds. They[…]

What is value?

Value is not always what you think. In the startup world, everyone is talking about it, tech news are filled with funding round valuation analysis and exit stories. Yet the talk often only touches the surface of what there is to know about the valuation of early-stage investments, or even the valuation of any company[…]

The documents you need to approach investors

Startups and SMEs alike are often clueless as to what documents and information are needed to approach investors. These documents vary depending on the purpose (whether you’re looking to give away minority shares, to receive a loan or to sell your company) and on the type of investor that you’re approaching (VCs and other institutional investors,[…]

Investing in Innovation

How the European Union invests in innovative projects

Navigating through the countless EU projects for promoting investments into innovative companies can be challenging for entrepreneurs. The reality is that most of the direct financing takes place on a local level  – the best source to identify these financial intermediaries that have accessed European funding to finance local companies are listed directly on the official EU database ,[…]

Damodaran on Narrative and Numbers in Valuation

Aswath Damodaran’s webinar on “Narrative and Numbers: A Guide to Disciplined Story Telling and Imaginative Number Crunching” on Sageworks provided some very interesting insights into different approaches to valuation. Damodaran distinguishes between those people who are more comfortable with number crunching, and the storytellers. The ‘Numbers’ people tend to think that valuation is all about[…]