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Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

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Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#21

Post by Jd »

jber wrote: post #16
deathflute wrote: post #11

Earlier quoted context omitted.

How did you guys arrive at 15% for 150K?

We wanted to call it Kima15 so it's 15%. Good answer? ;-) More seriously. We know the market better than many angels and we are investing in any country of the world. This offer was already been accepted by a lot of awesome founders building big things.

Which market? You mean the worldwide market. If I had to guess, I'd say you are probably 60% EU + Russia, 10% Israel, 10% US, 20% other. Certain things might make sense in other places that don't make sense in the US.

Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#22

Post by acangiano »

jber wrote: post #16
deathflute wrote: post #11

Earlier quoted context omitted.

How did you guys arrive at 15% for 150K?

We wanted to call it Kima15 so it's 15%. Good answer? ;-) More seriously. We know the market better than many angels and we are investing in any country of the world. This offer was already been accepted by a lot of awesome founders building big things.

In Canada most startup founders won't be able to score a deal like the one you offer. I really applaud your approach and willingness to fund companies all over the world. I was expecting this to be a US-only thing. I was pleasantly surprised.

Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#24

Post by jahewson »

minimaxir wrote: post #18
deathflute wrote: post #4

What do you guys think about the terms of the deal? Isn't 15% a lot to give out for just 150k?

Y Combinator is $20k (+ $80k maybe) for ~6% equity.

The $80k is a convertible note though, so expect it to be converted into another ~25% equity at that valuation.

Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#25

Post by jber »

jhartmann wrote: post #19
jber wrote: post #7

Earlier quoted context omitted.

Why do you think our terms are "terrible"?

Terrible is a strong word, but I don't think these terms are good for lots of companies. Each company is at a different stage when they first start raising seed funding. Some companies might just be worth 1 MM, but if you have a strong team, great technology, a workable plan, and early customer interest/revenue 1 MM is a horrible deal. In my opinion these terms are great for some ventures and absolutely horrible for…

Agree with you that for it's not for everyone but for most early stage startups, it's a great deal.

For the others, Kima Ventures still exists and we are investing at differents valuations (lower and higher)

Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#26

Post by jber »

acangiano wrote: post #22
jber wrote: post #16

Earlier quoted context omitted.

We wanted to call it Kima15 so it's 15%. Good answer? ;-) More seriously. We know the market better than many angels and we are investing in any country of the world. This offer was already been accepted by a lot of awesome founders building big things.

In Canada most startup founders won't be able to score a deal like the one you offer. I really applaud your approach and willingness to fund companies all over the world. I was expecting this to be a US-only thing. I was pleasantly surprised.

We already invested in Pakistan too ;-) so nope, it's for everyone ;-)

Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#27

Post by jber »

Jd wrote: post #21
jber wrote: post #16

Earlier quoted context omitted.

We wanted to call it Kima15 so it's 15%. Good answer? ;-) More seriously. We know the market better than many angels and we are investing in any country of the world. This offer was already been accepted by a lot of awesome founders building big things.

Which market? You mean the worldwide market. If I had to guess, I'd say you are probably 60% EU + Russia, 10% Israel, 10% US, 20% other. Certain things might make sense in other places that don't make sense in the US.

You can't imagine how most US startups will be happy to get that deal. There are thousands of startups trying to get funding desperately in the US too There are also founders who are not interested to lose their time by pitching many VCs...and prefer to get that term in 15 days instead of better terms in 5 months...

Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#28

Post by deathflute »

jahewson wrote: post #24
minimaxir wrote: post #18

Earlier quoted context omitted.

Y Combinator is $20k (+ $80k maybe) for ~6% equity.

The $80k is a convertible note though, so expect it to be converted into another ~25% equity at that valuation.

I thought the convertible note is to be converted to equity in series A. If the company did well, it would presumably have a higher valuation, and they would have to give away far less than 25%.

Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#29

Post by deathflute »

jber wrote: post #16
deathflute wrote: post #11

Earlier quoted context omitted.

How did you guys arrive at 15% for 150K?

We wanted to call it Kima15 so it's 15%. Good answer? ;-) More seriously. We know the market better than many angels and we are investing in any country of the world. This offer was already been accepted by a lot of awesome founders building big things.

Thanks for explaining. These deals are such an opaque market that first time entrepreneurs have no idea what is good and what is bad.

Re: Kima Ventures Will Allow Startups to Raise $150K Within 15 Days Via AngelList

#30

Post by wellboy »

To the naysayers, the biggest downside of fundraising is just the insane distraction and time it takes to get through that process.

Kima Ventures has simply understood that and has solved that problem.

There are a lot of startups for whom it would be detrimental to have investors who want to have a say in their startup, but who would have a lot of benefit make big progress by getting $150k fast.

If you position yourself as the brand to get all these startups, you will inevitably scoop up some of the really big hitters.

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