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Ask YC: UK VC and Mentoring

news.ycombinator.com

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Re: Ask YC: UK VC and Mentoring

#11

Post by wheels »

pkill wrote: post #9
MandeepKhera wrote: post #7

How much are you looking to raise? If it's only a small amount initially (up to £250k)it's probably best to go with UK angels; who are actually quite good. They can also use their network to gain further financing and VC can be used at a later stage. If you have a good revenue model then it will be easier to get angel interest. Where in the UK are you from?

Yeah we'd be looking to raise in that region - mostly for development costs, with only marginal marketing finance required. Other, non-competing, players in the industry are already earning well in excess of £50k profit per month. We realise this will require lots of hard work to reach but the market is definitely there. We're located on the south coast about an hour from London so regular trips up to the city happen…

One thing to keep in mind also is that if you're just starting to get connected to the scene, which I assume is true since you're asking what's there, you're still several months away from being able to raise money, probably closer to a year if you're starting cold. Angels would definitely be the way to go if you can find your way to them since they're like a mix of mentor and investor.

Re: Ask YC: UK VC and Mentoring

#12

Post by pkill »

notauser wrote: post #4

Living and working in the US is a blast, and it is something that is very tough to do without company backing (even for educated Brits). Opportunities like this are pretty rare. The contacts you make will last a lifetime, so if you ever want to go back later in life you can do so with less risk and uncertainty. You would be giving up control of your idea. Probably that isn't a huge problem provided you are compensate…

At the moment we're kind of keen on working in SF, but neither of us are totally sold on it yet, we both have a lot of ties to the UK. We'd be giving our idea up, for a while at least, it would be easy to start again - but if we could find funding to stay in the UK I think it would be a better fit for now.

>>isn't a huge problem provided you are compensated in equity As far as we're aware, there's no equity - just fixed salaries.

I'll drop you an email as well, to see if it's worth talking further...

(South coast based and in London fairly regularly anyway)

Thanks

Re: Ask YC: UK VC and Mentoring

#13

Post by MandeepKhera »

pkill wrote: post #9
MandeepKhera wrote: post #7

How much are you looking to raise? If it's only a small amount initially (up to £250k)it's probably best to go with UK angels; who are actually quite good. They can also use their network to gain further financing and VC can be used at a later stage. If you have a good revenue model then it will be easier to get angel interest. Where in the UK are you from?

Yeah we'd be looking to raise in that region - mostly for development costs, with only marginal marketing finance required. Other, non-competing, players in the industry are already earning well in excess of £50k profit per month. We realise this will require lots of hard work to reach but the market is definitely there. We're located on the south coast about an hour from London so regular trips up to the city happen…

I'm also located in the UK and I am in contact with a few angels. I can introduce you to them if you wish, I am based in the midlands.

Re: Ask YC: UK VC and Mentoring

#14

Post by pkill »

MandeepKhera wrote: post #13
pkill wrote: post #9

Earlier quoted context omitted.

Yeah we'd be looking to raise in that region - mostly for development costs, with only marginal marketing finance required. Other, non-competing, players in the industry are already earning well in excess of £50k profit per month. We realise this will require lots of hard work to reach but the market is definitely there. We're located on the south coast about an hour from London so regular trips up to the city happen…

I'm also located in the UK and I am in contact with a few angels. I can introduce you to them if you wish, I am based in the midlands.

Hi - your email isn't listed in your profile can you drop me a line at: pkill123@googlemail.com

Thanks

Re: Ask YC: UK VC and Mentoring

#15

Post by pkill »

adamt wrote: post #10

I'm a UK-based entrepreneur that has raised over 10 rounds of VC from £100k angel rounds to $25M VC rounds for 3 different companies. I've gone through the entire 'should we move to the US?' scenario, and raised money from both European & American investors. I'd be happy to provide some advice - drop me an email (address should be visible in profile) if you're interested. To answer your question generically, I think…

Hi Adam - you sound like exactly the sort of person we're looking to talk to and provide advice.

Unfortunately your email isn't showing in your profile - can you drop me a line at: pkill123@googlemail.com

Thanks

Re: Ask YC: UK VC and Mentoring

#16

Post by MandeepKhera »

pkill wrote: post #14
MandeepKhera wrote: post #13

Earlier quoted context omitted.

I'm also located in the UK and I am in contact with a few angels. I can introduce you to them if you wish, I am based in the midlands.

Hi - your email isn't listed in your profile can you drop me a line at: pkill123@googlemail.com Thanks

Sorry I thought it was visible, I'll email you this evening.

Re: Ask YC: UK VC and Mentoring

#17

Post by danw »

pkill wrote: post #8
babul wrote: post #6

Come to the HN/news.yc meetup in London this Thursday as there will be many hackers and entrepreneurs there who have/had the same problem(s) and can offer detailed first-hand advice and guidance and possibly more e.g. introductions and practical help and finding mentors. Hacker Meetups London 02 Cotober 2008 Flat 1, 103 Commercial Street, London E1 6BG (Five minutes walk from Liverpool St tube) (Google map: http://is…

Hi and thanks for the info - what time is the meetup? Depending on when it is I/and or we will try and make it up there. Cheers

Starts at 7pm, info is on http://www.facebook.com/event.php?eid=35609456822

If you're in London on Thurs it might be worth attending opencoffee in the morning too. I haven't been for a year but it used to be a good place to meet investors and get advice, should still be the case.

Also next week is FOWA, a good event full of European developers, entrepreneurs and VCs (4% of attendees are VCs). Tickets are cheap if you're a student too.

Re: Ask YC: UK VC and Mentoring

#19

Post by jblondon »

You will want to find an angel investor that knows you, and is willing to back you and the team. Doesn't desparately matter where that is, but a prior relationship / trust is very important.

There are more angels like that in the US, but there are also some excellent ones in the UK.

VC (and there's plenty of that in the UK) comes later -- after you're full time on the project, have built (at least some of) the product, proven its value (to some extent) and need a lot more cash (millions of dollars' worth).

Check out seedcamp.com. Watch all the videos, and start to connect up with the UK/Euro start-up community.

Re: Ask YC: UK VC and Mentoring

#20

Post by ig1 »

babul wrote: post #6

Come to the HN/news.yc meetup in London this Thursday as there will be many hackers and entrepreneurs there who have/had the same problem(s) and can offer detailed first-hand advice and guidance and possibly more e.g. introductions and practical help and finding mentors. Hacker Meetups London 02 Cotober 2008 Flat 1, 103 Commercial Street, London E1 6BG (Five minutes walk from Liverpool St tube) (Google map: http://is…

I second that recommendation, I went to last month's event (first time I'd been) and it was very useful.
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