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Hi Friends,

Spring is right around the corner and with it are new opportunities and possibilities for SoCal-based founders.

We’d like to announce our Inaugural SoCal Venture Pipeline Showcase, happening May 19th. We are bringing the 30 best companies in-person to meet with top VCs. 

Only those who have applied to the SoCal Venture Pipeline brought to you by Silicon Valley Bank will be eligible to attend. 

This will be an exciting opportunity for founders raising institutional capital. And it may be easier to raise now, than 6 to 12 months from now.

According to Crunchbase’s The Market Minute: After Record Venture Boom, It’s Suddenly A ‘Mad Rush To Grab Capital’ article, the fundraising environment has shifted during the last six months due to a confluence of factors, including inflation worries, turbulent public markets and geopolitical disruption. 

For startups, this means it might take longer to raise, with more due diligence, less inbound interest, and fewer crossover investors. If these trends hold, raising now might be your best bet. And we can help!

I’m including more details below on how we evaluate a company’s readiness to raise capital to possibly spark some ideas on who would be a good fit.

Since our seed expansion announcement, we saw 40 new applications, with 2 being accepted, and 4 being determined as potentially investor-ready.

We are still looking for great SoCal based companies that are raising their first institutional seed or series A round. 

While most applicants are building great companies, we want to emphasize that they must be scalable and venture backable. We are also looking for companies that are truly innovative. 

Here is the criteria we are using to determine if a company is eligible for seed funding:

  1. Have ideally raised at least $250K through angel funding and/or friends/family
    1. If not, product in market and demonstrated customer traction and potentially early revenue generation 
  2. Proof of Value Proposition: Annual Run Rate (ARR) sales of $100K or more (ideally) and/or at least 100 customer discovery interviews
  3. Dedicated team of 2 or more
  4. Have articulated a compelling market opportunity and identified target customer segments, and early customer validation (e.g. pilots, etc.)
  5. MVP built and in use by customers
  6. Proof of a growing customer prospect pipeline
  7. Identifying Key Performance Indicators
  8. Raising institutional seed capital of $1M or more with a scalable business model and a Series A raise planned in next 12-24 months.
  9. Based in Southern California


If you are a founder based in SoCal raising $1M+ of Seed or $4M+ Series A capital, we want you to apply

If you know any founders who fit this criteria, please encourage them to apply.

If you are interested in helping us evaluate companies, please reply to this email so we can discuss further.

Wishing you all the best.

P.S. 

We would appreciate your support in promoting the program on Twitter by using the content below:

Are you a founder based in SoCal raising $1m or more of institutional Seed or Series A capital?

Apply now for SoCal Venture Pipeline brought to you by Silicon Valley Bank. All industry verticals within tech are included.  https://bit.ly/3EIEQix

 

Great Resources For Founders


Two pitch deck elements that can make or break seed funding
 

Visible Decks: Upload your deck, tailor it your brand, and understand how investors are engaging with your fundraise
 

Lolita Taub’s Tweet Thread: Asking for a founder: how do I find a lead investor for my seed round?


The Market Minute: After Record Venture Boom, It’s Suddenly A ‘Mad Rush To Grab Capital’

Thank you for being a part of our community and if you have any ideas on how to collaborate, please feel free to reach out.

Warm regards,



Raychel Espiritu
Venture Outreach Manager
The Alliance for SoCal Innovation 
e: raychel@alliancesocal.org 
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