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WelinderShi VC.castOct 22, 2023
Offer | 05 | WelinderShi
Thank you for sharing the opportunity to work with your team. These are the "Next Steps" to finalize a working relationship with one another. OUR TERM SHEET. Your WelinderShi contact will send you the Term Sheet for our offer to invest in your company. Each company's terms are specific to the nuance of your deal. THANK YOU. We appreciate you sharing your time and communication to get to this point in our process. Whether or not we come to an agreement on a deal to work together, we hope you found our process to be clear and helpful.
View more https://www.welindershi.com/pitch-process/offer
Due Diligence | 04 | WelinderShi
The final step prior to presenting your company with an offer to invest. Our process is meant to be a feedback loop to confirm our discoveries. WHAT WE WILL BE LOOKING INTO. The thought of Due Diligence can bring on anxiety for some, but it is our intention to show our candor in all communications and requests. Throughout the previous three phases we have been taking notes and already doing some preliminary Due Diligence to move efficiently into our final steps of review. To better understand what we we are looking into and the rationale behind how we conduct this portion of our process. We are sharing the areas we will be asking questions to validate. TEAM. We lead with learning and understanding more about your team. We believe this is where the business positions itself to be successful. REFERENCES. We will be reaching out to contacts you provide us who can share experiences they have from knowing + working with you and your key team members. REPUTATION. Throughout communications with your references, people you have come in contact with and reviewing those findings to better work with you. VALUE PROPOSITION. A deeper dive from our end to clearly understand the value proposition(s) you presented. NUMBERS, PROJECTIONS. To confirm and clarify metrics about what we should focus on from our end to substantiate next steps. COMMUNICATION. We work from the belief how we communicate with one another during our process is as important as everything else if not more so. How we communicate together demonstrates if we are a good fit for one another. BACKGROUND CHECKS. Standard checks using a 3rd party service along with OPAC reviews. "Please understand we have a fiduciary duty to those who trust us to make informed decisions to potentially invest in your company." RECIPROCATION. The phase of Due Diligence is meant to be a feedback loop. Both sides need to understand and align clearly to move forward and begin what we are supporting is a long-term, mutually beneficial working relationship. More likely than not, your business will go through more challenges than our Due Diligence process. We want to be a good fit to support you in those times and be a resource in your companies journey. View more https://www.welindershi.com/pitch-process/due-diligence
Learn More Meeting | 03 | WelinderShi
We are getting to know one another and this meeting will be the stepping stone to move forward in our process. HOW WE MEET & TIMING. For this meeting we prefer to meet in-person at our office in Los Angeles, California. In some cases we will have the meeting over a video call. While there is not a set duration for this meeting, we want to be respectful of your time and bandwidth. LEARNING MORE. Our line of questions will be more specific to your business model during this meeting. We will share ways we believe we can help add value to what you are seeking from an investor. In short, we are going to know each other for quite some time and want to make sure we are a fit to build the working relationship. View more https://www.welindershi.com/pitch-process/learn-more-meeting
Follow Up Meeting | 02 | WelinderShi
The first step in getting to know one another and discovering if we're a good fit to continue. HOW WE FOLLOW UP. This meeting could happen over a phone call, a video call, or in-person at our Los Angeles, California office. The choice is yours to make. WHAT TO EXPECT DURING THE MEETING. We will come prepared with a specific list of questions after reviewing your pitch. Primarily we will be focusing on you and your team (if applicable). In addition, we will have questions regarding metrics (if you have them) and understanding your point of view with the business. We want to make sure we are a good fit for your vision and culture to consider moving forward in the process. View more https://www.welindershi.com/pitch-process/follow-up-meeting
How We Connect | 01 | WelinderShi
To begin we need to be introduced to your company. We share a variety of ways to connect with us at WelinderShi and what we're looking for in your pitch. WAYS TO CONNECT. Not all ways to be introduced to one another are created equal but we strive to make the process clear. 1. Submitting through our web form. 2. Be introduced through one of our portfolio companies. 3. A General Partner introduction. 4. Through a peer-to-peer relationship. 5. Happenstance. We may see each other at an event or in passing. "Two key elements we are looking to discover, how you are creating value and are we are a good fit for one another." PITCH DECK TEMPLATE. What we are looking for is highlighted within our pitch deck template. It is not mandatory to use our template but we definitely appreciate it when you do. We prefer to see a pitch deck as a jpg. 1280 pixels wide and as long as it needs to be. A mock-up of what your website could or does look like but with each section providing details to these topics. 1. HERO SECTION WITH YOUR IDEA + VALUE PROPOSITION AS A HEADLINE PITCH. If this were a website how would you capture your visitor with the first thing they see and read? 2. WHAT IS THE OPPORTUNITY? A common question is what is the problem, but it's not always a problem you are solving which creates value. What is the opportunity you have identified? 3. CONTEXT OF YOUR EXECUTION. What is unique about your approach to the opportunity? How can it be a better option for your end user(s)? 4. VALUE PROPOSITION EXPANDED. What value are you creating? Please go into more detail. 5. REVENUE MODEL. You may not know what it will be in two years but what is your best concept to generate revenue? How could your revenue model change over time? 6. ADOPTION + STRATEGIES. Who would be your first customers? How could your customer profile change or expand over time? What strategies are you planning to use to gain adoption? Instead of a financial projection, what is your adoption projection over time? 7. TIMELINE. When did you start? Where are you today? Where will you be if you receive funding this round? What does your next three years look like? *This is not a financial projection. 8. TEAM. Who is involved? Full-time, part-time, resources you have? What motivates you to be dedicated to this business? 9. KNOWN CHALLENGES. What are challenges you know of? How self aware are you about not only the market you entering but the team in which you are executing the business with? 10. WHAT YOU ARE LOOKING FOR. What are you wanting from an investor? How do you plan on putting your capital to work? Please be candid. OBJECTIVE OF PITCH DECK. In our opinion, your only intention from sharing a pitch deck with an investor is to have the pitch result in a request for meeting. It is that simple. Your pitch deck opens the conversation and the chances all follow up meetings + due diligence will be foregone by a pitch deck are extremely rare because we have a fiduciary duty to make informed decisions. The velocity of the process can move faster for some, but we believe the primary focus of your pitch deck is to get a meeting. View more https://www.welindershi.com/pitch-process/how-we-connect
Start Up Pitch Process Introduction | 00 | WelinderShi
Wouldn't it be nice to know where you stand with an investor and what is coming next? We share details of how our process works and what you should expect. WHAT TO EXPECT. We wanted more clarity when we were pitching for investment and sharing our process is what we wish we had when pitching venture capitalists. Our process is comprised of five (05) phases. "How We Connect" phase 01. "Follow Up Meeting" phase 02. "Learn More Meeting" phase 03. "Due Diligence" phase 04. "Offer" phase 05. Each one of the five phase sections will highlight key details specific to questions we ask and what we are looking for from those pitching us. The process may seem familiar to seasoned entrepreneurs and be a source of onboarding for first-time founders. "The velocity your company goes through our process is specific to your situation. Each company is on a case-by-case basis." We have a framework in place which gives you clarity throughout the process. After each step in the process, your WelinderShi contact will be clear on when you can expect to hear back from us and what "Next Steps" are if we are a good fit to continue. WHAT WE INVEST IN. Pre-product, Early, Seed stage, and Contextual Opportunities. For those we invest in, we will consider follow-on investment on a case-by-case basis. Not every business needs to be a unicorn but they do have to create value. You can view our Call to Startups to see if you may be a fit. We hope you find value in learning about our process. View more: https://www.welindershi.com/pitch-process