Startup investor’s best tools
– presentedin 60 minutes
The Toolbox courses are online and free for members.
Read more about membershiphere
How we screen startups
We tackle one of the noblest arts of angel and venture investing: sourcing, screening and qualifying deal flow in an ecosystem of noise, smoke and high competition in search of the next unicorn. What are your criteria and what works best for you? Diversification or active ownership? Investment via holding, pension or direct?
Valuing startups is a mix of voodoo and laying on of hands. Advanced excel sheets with discounted cash flows sometimes act more as stumbling blocks than constructive help to get the investment in place. We will review models, methods and share our best experiences on valuation in practice.
The capital landscape
When you get involved in startups as an investor, with either venture time or capital, it is important to know the possibilities of “leveraging” your investment with other sources of funding. You will be confronted with a multitude of options. This Toolbox gives you some practical tools to help you navigate.
How we work together
A term sheet is typically a non-binding pre-contract drawn up early in the investment process between the entrepreneur and the investors. Learn about the negotiating points, the importance, the consequences and the practical work with term sheets.
How do you make a deal with a startup and test a collaboration in a simple way? How to ensure that the price of the company is not too high? This Toolbox introduces you to our simple 3-month due diligence model. We review concrete methods, checklists, experiences and case examples from the network.
There are many syndicated investments in the Keystones network and to make these investments successful, lead investors and lead investor teams are needed. We take a closer look at what the role of a lead investor entails and look at both theory and practical examples.
You have your eye on one or more startups that you would like to get involved in on a risky basis. Investing capital in businesses may seem obvious, but in many cases your hours and the results you can create in the business are worth at least as much as your money. Hear how you can invest your time.
It is important that a syndicate is actively managed and that all parties understand their role and responsibilities. This is necessary to reap the benefits and mitigate the challenges of investing in a syndicate. Syndication is widespread in Keystones. Learn about the process and its tools from A-Z, based on practical examples from the network.
Tax is an inevitable part of the equation. Which tax strategy puts us in the best position? How do we ensure a balanced bottom line all the way around the table – whether the company is sold, listed or goes bankrupt? Get better at navigating the tax minefield of holding structures, investor tax relief, convertible loans, syndicates, pension savings, sweat equity etc.
How we build businesses
The business model
How does the company make money? Help startups become even sharper on this very question. Get concrete tools to unlock the commercial potential of new products and technologies that have not yet fully penetrated the market. We share startup experiences on product-market-fit, business model design, the lean startup method and much more.
Learn about how to find board opportunities in startups. About the role of a board member and what it entails. Do you have to invest in the companies and do you get paid? How do you ensure that the day-to-day management of a startup gets the best possible coaching on the journey? Who participates in the board and advisory boards?
Provide qualified sparring as the company moves from startup to scaleup. We discuss everything from fine-tuning, standardisation and automation of processes to do’s and don’ts in growth and scaling strategies, delegation, recruitment and international marketing
Get to grips with the key metrics and learn how to ask the right questions about the business model of startups. Do you need to be thoroughly updated on e.g. CAC, churn, burn, ROI, CLV and similar startup metrics, here’s an intensive review.
Startups are a contact sport, where the team is typically paramount. But how do you build, attract and retain a winning team? What culture, organisation, role allocation, agreements, incentive and ownership structure creates the best results? Get the tools and insights through relevant research and practical experience from the network.
How we reap the rewards of our investments
It’s hard to know when it’s optimal to sell and few are serious about exits from the start. Avoid getting “locked in” to your investments. Get insight into: strategies, exit methods, analysis data from the Danish EXIT market and the process with the buyer.