Again, we want to be clear, concise and inviting in our opening email. The first touch point will likely be an email to the founder. I wrote about this in a prior article but will touch on it again here, and maybe I’ll write a detailed article about this. They will turn around the list within several days, and from there we are off to the races. SourceScrub will take our raw list and turn it into a complete list with all of the information I listed above. We really can’t do all of this by hand so in comes SourceScrub. We need more information, we need to know how many employees they have, their last funding round, where their HQ is, a bio about their company, who the founder is and what their email is, and much more information. Now we’ve concluded our market mapping, we’re stuck with broad list that needs to be refined further. So in short, from the expert network calls you may further your list with some of the lesser known companies, and build a long term relationship for off-market deals.
#SCRATCHPAD CRUNCHBASE FULL#
Full disclaimer: these expert network platforms aren’t free, but then again, the price is marginal if it brings you a homerun deal. Working with these professionals and utilizing their network is a great tool that should be exercised. These tools allow you to setup calls with long standing industry professionals and not only pick their brain on industry trends, but it acts as an open format call where you can take the conversation in any direction you please. This route does overlap with VC Portfolio Searching but there are tools like Coleman RG and APEX Leaders. David Teten has a great article on this and you can check that out on his blog. We all know the majority of deals come from internal networks and warm intros from well respected individuals. A 2–3 line email, introducing yourself, your firm and the interest in their portfolio should get you a response back. Email works as well and a brief intro is always best. When reaching out to funds, it’s best to connect with relevant individuals on LinkedIn or Twitter to build a personal relationship in a quick and efficient manner. This is a great list and nobody ever said deal sourcing will be quick or easy! Nearly ~2,000 funds and from here we will export this list and begin to go through portfolios of each. You’ll notice the filters on the top portion of the screen. For all of those reasons we will use this tool for our primary search and begin to gain a lot of clarity on what this landscape looks like. They actively track funding rounds and have some pretty neat tools that call out rising startups based off various factors. I chose Crunchbase as our primary tool due to their deep database of companies. Now that we’ve defined how exactly we are going to compile our targets let’s dive deeper into each method. We will use several different methods, below are the methods we will use followed by an explanation broken out. Now it’s time to use our tools to develop a strong list of targets. We will further refine this search by only considering companies that are headquartered somewhere in North America.
#SCRATCHPAD CRUNCHBASE SERIES#
Operates within the business collaboration market.Ok, so now we have our two core principals and begin to further narrow from here, but to recap we will begin compiling a relevant industry landscape of businesses that fall under two categories. On top of that, let’s further refine to business collaboration companies that may need to raise their Series B within the upcoming 6 months. For the purpose of this article, let’s run with the business collaboration market.
Well, to do this we will run a bottom up analysis. So now the posed question is, how do I identify strong targets and begin constructing an industry landscape of players within my desired parameters. Now that the metrics and importance of proprietary deal sourcing has been established let’s look at an in-depth personally built case study for deal sourcing within growth investing for a thesis centered around the Business Collaboration Market.Īs mentioned in my previous article, deal sourcing starts with target identification. With that being said it just goes to show how important outbound deal sourcing is and for mega growth funds they typically have between 0.75 and 1.25 dedicated deal sourcers for every generalist investment professional. The fact that we as investment professionals will look at ~10,000 deals a year and invest in a mere 10–20 or. These numbers may be astonishing to some.
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