Karma Ventures has put together some tips to help you nail the matchmaking game and navigate the world of investor meetings. Whether you’re a seasoned conference participant or a first-timer, being active on the matchmaking app can prove to be the most beneficial part of the whole conference experience (read on to find out why Avery Schrader, the CEO of Modash is a passionate fan and what can we all learn from his case study)!
1. Perfect your profile to make a memorable impression
When utilizing the matchmaking app, crafting a compelling profile is crucial. Investors seek specific information to evaluate potential opportunities, including a concise product description, traction, unique selling points (USP), market potential, and previous/current funding rounds. While it may be tempting to provide additional context, ensure that essential details about your product, stage, and business model (B2B/B2C) are clearly communicated.
2. Focus on your target investors
Before scheduling meetings, be clear on your intentions. Determine your fundraising goals, whether you’re seeking angel investors, pre-seed, seed, or larger investment rounds. Early-stage investors focus less on financials and often prioritize storytelling and team experience, while later-stage investors require a more comprehensive data room and financials.
Skim the Matchmaking app to find which investors are the right fit for you. If you have time, double-check their portfolio and see if there are companies similar to yours in terms of model.
If you are not fit for the fund, even the greatest of pitches won’t help. If you do pre-seed Deep Tech, look for pre-seed Deep Tech investors, then pre-seed Generalists, then complete generalists. Prioritize investors who align with your industry or sector to increase your chances of success.
3. A little (or a lot!) preparation goes a long way
During the meeting, time is of the essence and most of the time, you have 15 to 20 minutes for a meeting. You have done your homework and know which investor to meet. Still, use the first part of the meeting to check have you understood their investment strategy is the right fit for you. This leaves you about 10 good minutes to pitch and get what you need out of it.
To make the most of this valuable time follow these tips:
- Be concise and compelling so make sure your pitch is short and to the point;
- Be ready to answer questions about your product, business model, market analysis, and financial projections;
- Finish by asking for the investor’s Email/LinkedIn saying you will share the deck with them, and follow-up online;
- Be authentic, so be yourself and do your best, it needs to be a match on both sides.
4. Follow up after the meeting
After the meeting, send a follow-up message or email to maintain the momentum. Discreetly remind them where you met (e.g. “It was great meeting you at Slush, I hope your trip back to Germany went well”). Take this opportunity to share additional materials in the email like deck, and demo videos. Aim to offer something they haven’t seen yet. Give them a reason to check the email and keep the process going.
5. Perseverance is the key to overcome challenges on the road to success
Fundraising is tough, you might get 100 rejections only to find a lead investor during the 101st call. Keep calm and carry on, don’t let the frustration decrease the quality level of your pitches, and you’ll be unstoppable.
6. PS. Have fun while at it!
Life is too short not to be enjoyed. When at the event, don’t forget to stay hydrated and enjoy the interesting chats you’ll have with the other participants.
Come and meet the Karma Ventures team at Latitude59!
How to locate them? Through the matchmaking app, of course!
A mathcmaking success story – how to get it right!
Avery Schrader – the CEO of Modash and a seasoned participant of Latitude59 – is a strong believer in the value of forging new connections, especially at an event like Latitude59. Here are his best tips to make an impression and score a deal.
1. What has been the role of matchmaking for you at Latitude59?
Matchmaking is one of my favorite parts of the conference. It’s almost like a game. The objective, to build a meaningful connection with as many interesting people as possible. For me, a meaningful connection usually means they do something I know very little about, and I can learn from them. Sometimes, magic happens and you have overlapping interests or goals, and can help each other out.
- What do you like about it?
I think it’s this forced engagement with people you might not otherwise cross paths with. Matchmaking gives each of you a chance to unlock a piece of your journey, by learning and collaborating with smart folks doing all kinds of weird stuff.
3. What’s the deal that you closed and how did you make it happen?
I think through matchmaking we even got a few customers, but those stories I can’t be sure about. What I do know is that I met 3 people at Latitude who wound up being Modash investors and great friends. 1 of which was through matchmaking, and the other two were just mingling with random people I had no idea where investors.
The secret is enthusiasm to learn about the other people. My networking life hack is to be the one that prompts others to speak, and avoid talking about yourself as long as possible. People will come to really enjoy chatting with you (about themselves) and eventually demand you explain who you are.
“The secret is enthusiasm to learn about the other people. My networking life hack is to be the one that prompts others to speak, and avoid talking about yourself as long as possible. People will come to really enjoy chatting with you (about themselves) and eventually demand you explain who you are.”
– Avery Schrader, CEO of Modash
4. Where are you now and what’s been the impact of that deal? Will you be “matchmaking” also at Latitude59 2023?
Modash is doing well! If people want to know our revenue, they can ask me during Matchmaking – no rules, I’ll tell all! I will do some matchmaking for sure! Looking for interesting folks in the consumer tech / ecomm space.
The matchmaking app, Brella, has now been launched for Latitude59 2023! If you’ve personalised your ticket, you should already have an invitation waiting in your inbox. Check our FAQ page if you run into any hiccups.
Ready, set, go!
Get the app, fill your profile, dive into matchmaking!