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Rockies Venture Club, Life Science Application – Due Date

Sunday, Jun 23, 2024

RVC investors look for opportunities that generally meet the following criteria:
Deal Stage: The company must be beyond the idea/concept stage. RVC is happy to consider companies that are pre-revenue. Still, the business should have a product ready (prototype, MVP, etc.) and ideally, but not necessarily, a clear strategy to generate revenue within the next 6 months. Applications will be evaluated case-by-case as it is understood that certain industries may not generate revenue before exit.
Exit Potential: The company can reach an Exit (a liquidity event for their investors, not a Founder’s exit of the business) within 5 years or longer for some strategies. Companies ideally have an initial Exit Strategy that they view as a roadmap for their business. If companies do not have a strategy in place, RVC will help them develop one, but the group looks for companies aligned in their intention to scale and Exit within a 5-7 year timeframe.
Quality Team: Founders have a clear passion for the problem they are solving and are aligned with venture capital strategy. Experienced teams that have been Venture-backed previously and/or have Exit experience are weighed positively, though RVC also frequently backs unique, first-time founders. RVC’s portfolio (over 100 investments) comprises an almost 50/50 split between first-time and experienced founders. Teams with Advisory Boards and/or Boards of Directors lined up are also positives.
Strategy: RVC investors like founders that are strategic thinkers who have a strong strategy in place for Marketing, a Go-to-Market plan, Scaling (Sales & Operations), Competitive Differentiation, Capital Plan, and Exit.

Deal Terms & Capital Plan: Ask and Deal Terms fall in line with standard preferences of RVC and ACA Angel Groups (i.e., companies looking to raise between $500K and $2M for a  preferred equity stake with a 12-24 month runway). The group prefers preferred equity rounds but will consider convertible notes when used appropriately. RVC will also consider asks that fall outside these ranges if it’s a compelling deal and the company shows significant traction..

Apply to pitch by June 23!

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