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Venture Capital - Beyond Friends and Family

by Clisson
5 replies
Hi Warriors.

My business partner and I have reached 40k out of 80k venture capital needed for a new helth business in the UK. We achieved this from 6 different friends. The problem is our friends can only spare 5k - 10k each. We need to find venture capital from people with more money.

How would you guys and girls go about connecting with these people?

(I hope I posted this in the right forum - apologies if it's mis-placed!)
#capital #family #friends #venture
  • Profile picture of the author kilgore
    Few -- if any -- venture capital firms are going to be interested in a 40K deal -- it's far too small. What you want is an angel.

    Here are a couple of articles that might get you started in your search:
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  • Profile picture of the author Frank Donovan
    I hope your friends and family are special - that isn't a funding method I'd be comfortable with.

    My first choice would be a bank or specialist venture capital firm. You could also try here: https://www.ukbusinessangelsassociat...kbaa-database/

    Needless to say, you'll need a strong pitch and a solid business plan.

    Online crowdfunding services are quite popular also. Just run a search on the term.
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  • Profile picture of the author anayb
    Originally Posted by Clisson View Post

    Hi Warriors.

    My business partner and I have reached 40k out of 80k venture capital needed for a new helth business in the UK. We achieved this from 6 different friends. The problem is our friends can only spare 5k - 10k each. We need to find venture capital from people with more money.

    How would you guys and girls go about connecting with these people?

    (I hope I posted this in the right forum - apologies if it's mis-placed!)
    angels will not be interested for 40k to 80k, look for individual seeders
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  • Profile picture of the author Steven Roberts
    Angel / seed funder - at this level it's the same thing. The fact you're halfway there will play well. Crowdfunding the rest is definitely doable - check out specialist sites in your country for this. There are some interesting models like equity crowdfunding (eg Crowdcube) Are there any small business matchfund grants you could apply for in your area?
    Whichever way you go good luck!
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  • Profile picture of the author hellplates
    do you have traction yet? if you can prove some statistics and MOM (month on month) growth then you could go onto a site like CrowdCube or Seedrs. But they won't accept you willingly unless you've got something to show already (customers, some revenue, etc).
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