Seed round fundraising

6 Nov 2014 ‘
Ching, Co-founder at Vault Dragon

LIVE

WORK

PLAY

Origins
Founded in 2013.
Graduates of Founder
Institute and JFDI.Asia!

Traction
Annualised run rate:
>S$300,000

Funding
Raised S$1.2MM
in seed round !
Presence
Operations in both
Singapore and Hong
Kong!

What we learned

Fundraising is
distracting

Know how much
to raise

Get warm
introduction to
investors

Traction is king

Opening > Problem > Solution >
Traction > Market >
Business Model > Team >
Vision > Ask > Closing

Find the right “fit”
investors
Bonus: Gogovan vs.
Easyvan

Know how
valuation and
term sheet work

There is no “best”
term sheet. Don’t
optimise

“Avoid investors till you decide to raise money, and then when you do, talk
to them all in parallel, prioritized by expected value, and accept offers
greedily. That's fundraising in one sentence. Don't introduce complicated
optimizations, and don’t let investors introduce complications either.
Fundraising is not what will make you successful. It's just a means to an
end. Your primary goal should be to get it over with and get back to what
will make you successful—making things and talking to users — and the
path I've described will for most startups be the surest way to that
destination.
Be good, take care of yourselves, and don't leave the path.”
- Paul Graham (2013)