GENERAL
QUESTIONS
How early is too early to pitch Kickstart? What if I’ve taken money from angels or a small friends + family round?
While most companies we invest in have achieved some traction before they pitch, there are always exceptions. If it’s not the right time for us to invest, we’d still like to get to know you and learn about your company; and, who knows, maybe in a year or two it will be the right time. And while we like to be the first money in, we have worked with a number of companies who have raised small rounds before we connect so please reach out and we’ll start a conversation.
In which industries do you invest?
We’re industry agnostic and have invested in SaaS, consumer, marketplace, and healthcare startups in Utah, Colorado, and other parts of the Mountain West. To see all our investments, visit our portfolio page.
Do you invest in companies nationwide?
We focus on providing venture capital for startups in Utah, Colorado, and other parts of the Mountain West. While we make exceptions for other geographies, we only do so when we have truly unique experience or insight to offer in supporting the company post-investment.
PITCH
PROCESS
What should I include in my pitch?
We’d love to cover all the basics: the size of the raise, desired terms, cap table details, revenues-to-date, projections, etc. But, most importantly, we’re interested in getting to know you. Why are you passionate about the problem you’re solving? Do you have info you can share about excited early customers or a creative go-to-market strategy? We want to hear about it. What do you understand about the market that will allow your startup to solve the problem orders of magnitude better than your competitors? Tell us about your vision.
What criteria do you examine during the diligence process?
We’ll certainly do a thorough evaluation of the market you’re going after. Is it large enough to be worth the long, hard battle ahead? What do your financials look like? How have you created momentum to this point? What’s the quality of your product? Are you creating urgency around the problem you’re solving? We’ll look at all that, but the biggest deciding factor is the founding team. We look for scrappy, resilient entrepreneurs with a clear vision for their startup.
What is Kickstart’s process?
After you’ve spoken with a member of our investment team and we’ve determined there’s a potential fit, we’ll set up a meeting for you to present to additional members of the team. If that goes well, we’ll continue into the diligence process. Things we’ll ask for during this phase include customer and vendor references and access to your data room (articles of incorporation, cap table, P&L statements, projections, market research, marketing materials, sales process, key employee information, etc.). We hope you’ll also use this time to ask us more about Kickstart and our community to make sure we’re the right venture capital partner for you. From there, we’ll discuss your startup as a team and decide if we want to offer a term sheet. While the length of time the whole process takes varies from startup to startup, a few things are always true: we do our best to be efficient with your time and to be as transparent as possible. And the less time we have to evaluate, the more conviction we as a team have to feel.
TERMS
What’s your usual check size?
Our initial investment usually ranges from $250K to $2M. Because of the conviction we have in the startups we invest in, and because we’re committed to supporting them long term, we also reserve capital for follow-on investments.
Will you sign my NDA?
We, along with most VCs, don’t sign NDAs. Brad Feld does a great job explaining why here: Why Most VC’s Don’t Sign NDAs.
FIRST-TIME
FOUNDERS & STUDENTS
How does seed funding work?
A few helpful resources include: A Guide to Seed Fundraising by The Macro/Y Combinator, The Beginner’s Guide to VC, and How to Raise Money by Paul Graham of Y Combinator.
How can I become involved in venture capital as a college student?
We love that you’re interested so early on in your career. Check out Campus Founders Fund, a student-run VC fund sponsored by Kickstart that invests solely in student entrepreneurs. They make $10,000 to $20,000 convertible note investments with the friendliest terms you can find. While the investment committee consists of students attending universities across Utah, CFF has recently begun expansion into Colorado, Arizona, and New Mexico through its Scouting Program. Click here for more information, and apply to join here.
How do I get in touch with Kickstart?
The majority of the companies we see are referrals from our network, including our LPs, portfolio CEOs, co-investors, and members of the community. If we don’t have any mutual friends, you can fill out our contact form.