What's the goal when working with us?
Starting a company is an intense process. We know it first hand having launched 9 companies with over $350MM raised, $100MM in exits, and 1 IPO. One thing that experience has taught us is that it takes more than just money for founders to identify their early adopters, and gain the market traction they need to raise funding and accelerate the growth of their business. After we make an investment, our goal is the work with the founders to help you achieve the following:
- Identify product-market fit
- Gain early market traction,
- Develop a scalable business model, and
- Raise a larger round of funding at 3 times your valuation
How does StartFast Invest?
We offer $50,000 plus all of the benefits of working with StartFast and ask for 5% common stock in exchange. We will selectively lead or participate in follow-on funding rounds with check sizes ranging from $50,000 to $750,000. Deal terms vary depending on the term sheet determined by the company and lead investor.
All portfolio companies after recieving intial investment willcontinue to work with StartFast managers and select advisors to develop repeatable and scalable growth. We require companies to vist us at Syracuse, NY two times within the first year of investment for an off-site intensive retreat.
What types of companies does StartFast invest in?
We specialize in early-stage high growth tech start-ups. We are not industry specific but the most important success factors:
- A team of 2 or more full-time committed co-founders
- At least one full-time technical co-founder
- Proven market traction (~$5K in monthly revenue)
- A large addressable market
- Preference for B2B SaaS
How do you choose which companies to invest in?
Please see our first blog post on this topic. After the initial cut, we are looking for ongoing communication showing your team’s ability to set targets and meet them. Big ideas without fully committed, execution-focused founders are not high on our list.
Does StartFast make follow-on investments in later rounds?
Most of our portfolio companies are likely to need additional funding beyond our first investment. After working with your team for a few months we will selectively make follow-on investments in companies raising new rounds of funding. Our typical check size is between $100,000 - $1,000,000 and depending on a multitude of factors we may either lead or simply follow in those fundraising rounds.
What sort of control am I giving up by granting equity to StartFast?
StartFast's initial investment is in exchange common stock. No special rights, no board seats – its your gig, so you run it.
What are your thoughts regarding single founders?
Building a high-growth startup is hard. Our preference is to work with high-performing teams that can manage the ups and downs of building a product and creating a viable business case. Try to find a co-founder who complements your strengths.
Do I need to send a business plan?
All we need is the online application which is available on our website