A micro-financing business angel fund targeting the best tech startups in Romania.
Business overview
| Location | Bucharest, Romania |
|---|---|
| Social media |
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| Website | - |
| Sectors | Finance & Payments Non-Digital B2B |
Details
Introduction
MVP Fund is a micro-financing business angel fund targeting the best tech startups in Romania at early stage, providing support and cash for equity.
MVP Fund is a continuation of the annual investment readiness MVP Academy pre-acceleration program (http://mvpcademy.co), organized by How to Web (http://howtoweb.co).
Investment Terms
We plan to invest a total amount of €140k in 2-3 companies over the course of 2-5 months. We target investments of €30k – €50k for 6-10% equity (at a €500k valuation) and we will provide active support for 9-12 months.
We take standard equity with pro-rata participation in future rounds, also right to information, standard tag along and drag along rights using the standard Seedrs term sheet http://learn.seedrs.com/wp-content/uploads/2014....
What we’re looking for
The profile of the ideal startup we’re looking for is the following:
• senior teams, well balanced and relevant experience in their sector
• highly scalable businesses with strong tech products
• product in beta phase at least
• primary client validation
• targeting a 100M+ market opportunity
What we expect
We expect all teams:
• to be ready for a follow-on round in less than 1 year with a valuation bigger
than €2M
• to focus on product / market fit and identification of distribution channels
• to enlarge their teams with key people, if needed
• to reach break-even in less than 1 year
• to have the first paying customers in less than 3 months
• to be ready to raise substantial funding in 12-18 months either by doing an angel round, raising VC round or joining a top accelerator (for the purpose of raising financing and scaling the business)
Fees
There will be an up-front fee of 7.5% charged on the total funds raised that will be paid to Seedrs. The remainder of the funds will be invested by the MVP Fund team in the selected companies.
MVP Fund will take a 12.5% carry fee on any profits made by an investor on a deal by deal basis. This is in addition to the standard 7.5% fee that Seedrs charges on any profit made.
Team
- George Dita -
Program & selection
George manages the MVP Academy program, working with all the teams on a full-time basis for coaching, customer development and pitch preparation. George will work with the invested teams on a fulltime basis.
- Bogdan Iordache -
Program & selection
Bogdan has been in touch with all MVP Academy teams as main coach, helping with product definition and business development. As part of MVP Fund, Bogdan will be involved in selection, business development and continuous support.
- Daniel Dragomir -
Operations
As CEO of How to Web, Daniel runs the operational processes of How to Web, gathering support and establishing deals for all programs including MVP Academy. At MVP Fund Daniel will be providing support for operations, legal and financial processes.
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