£45,000 angel investment deal completed.
Small business funding raised through Venture Giants
Venture Giants met with Nathan Kinch, CEO and Founder of Sport Performance Accelelator sportperformanceaccelerator.com to discuss his entrepreneurial journey so far, his frustrations of raising angel investment and the reason that he chose to proceed forward with a £45,000 investment offer from a private investor that he found through Venture Giants, over an existing investment offer that he had from a Private Equity Firm.
Firstly before we begin, I would like to thank you for agreeing to take this interview - you may find this surprising but many entrepreneurs that we find funding for on Venture Giants opt out of public news stories because of confidentiality reasons but I think it is vital to document success stories like these to other budding entrepreneurs that may be going through the same process that you have already been through. So let us begin,
Q: Why dont we start of with a simple question, can you tell our readers a little bit about your business, Sport Performance Accelerator?
A: Well thank you for allowing me to feature a story on your news channel and to share my overall experience with your users.
Essentially we provide a mobile and web platform that enhances and simplifies communication between an athlete and their entire team. We leverage from existing technology making the daily grind for the athlete and their team a whole lot easier. I would love to say more as we are truly excited about the feature set and the profound potential impact it will have. However, we are very early stages and need to protect certain elements of our IP.
Q: What is your background that led you to get involved with athlete performance enhancement?
A: I come from a sporting background and played at all levels at home in Australia including state and national and then moved onto the NCAA Division 1 in the USA. Unfortunately I suffered from an injury in my back that I believe could have been easily prevented if I had available the technology we are proposing. The result, I had to call it quits. That sucked.
Instead of actually playing sport I have involved myself in technology as I believe it can forever alter the day to day activities of these talented individuals and in turn improve overall performance and efficiency of not only an athlete but every single individual or organisation tasked with helping them perform and improve.
I found that communication disparity between an athlete and everyone they work with was a massive pain point and through some of our early validation practices it doesn’t appear I was alone.
At the end of the day, sport is big business and we aim to deliver a platform that not only benefits athletes and their performance / management teams but the clubs or organisations they represent. If athletes perform well there are commercial benefits that are attached to that performance. I see it as a win win. I have the opportunity to make a difference in an industry in which there is so much passion, not only for me but others as well as having the opportunity to build a business. It’s an exciting time!
Q: As an entrepreneur myself, I am always intrigued on the innovative nature that all business operators have to go through. I have to ask, how you got the idea to integrate athletes performance with digital software?
A: For me it seemed like the logical move forward. You can’t pry a hand held device from someone’s hand these days without starting a war. We are attached to technology and love the readiness of valuable information in the palm of our hands 24/7.
Having said that, it was a lengthy process to come from this conclusion to where we are now. A lot of due diligence and early proof of concept work took place. I was really lucky that I had great contacts in the industry and was able to bounce ideas around with them so that may have accelerated the concept validation a little bit.
Even after all of that in some ways I just felt like I knew what these athletes and their teams needed and wanted to deliver it in the most valuable way.
Q: I have to ask the Q Nathan! What made you choose Venture Giants over other networks and crowd funding platforms out there?
A: At the time of posting our proposal on Venture Giants we were pre-product which basically means all we had was an idea. When all you have is an idea raising capital can be tricky. Venture Giants seemed simple and had some recent proven success so we took the plunge and went for it.
Q: inspite of us sending and promoting your proposal to hundreds of business angel investors, you received one single solid investor contact.
Were you always confident in your business and proposal that you would be able to raise and negotiate a deal with a single investor contact?
A: Much of it comes back to the last point I made about having nothing to show. We didn’t have traction or even a prototype.
Any interest was better than none. We were also very lucky that we had a local Private Equity Firm very interested, however with Adrian’s [the investor that Venture Giants found for Nathan] understanding of our target industry we felt he was the perfect fit for this pre-seed stage investment and look forward to his contribution.
In regard to the fee, It’s only 99 pounds to potentially make hundreds of thousands. The risk of losing 99 is worth the potential reward if you ask me. My view is that you can not justify the spend, stay at home next Saturday night!
When you put it in perspective, the opportunity Venture Giants provides for such a small fee is outstanding.
Q: What advice would you give to other entrepreneurs that are looking to find investment through Venture Giant?
A: I think the best advice I could give someone that is looking for capital these days is that there are a million different avenues and you have to be willing to at least assess them all.
Agile business methodologies are changing the way we work, think and of course raise money.
Understand that all it takes is a few words and you can completely capture someone’s attention. Keep your proposal simple and engaging.
If you can tell a story, tell a story as people love a good story and hopefully they will relate in one way or another.
Stick to your value proposition. As long as you are very clear on that and it’s simple, people will get it and hopefully you will get some interest. The rest is up to you to take it forward.
Q: Did you try any other sites out there and what was your feedback?
A: Funnily enough we didn’t. We looked into a bunch. Venture Giants seemed simple and credible which is exactly what we were looking for. I guess it payed off .....
How Venture Giants found Nathan £45,000 of Business Capital
Once Venture Giants receives an investment proposal from an entrepreneur or established business, we review it and where necessary offer help and guidance. We have featured over 1500 investment deals from entrepreneurs all over the UK and have personally vetted over 3500 investor applications and have been responsible for raising over £1.6m for small businesses. We have even featured an investment proposal from a Giant company like Polaroid and we were the only investment network in the UK that they trusted to feature this investment deal.
Once your investment proposal is approved, we begin by sending it out to all of the investors that we feel would be interested in it based upon what you are proposing.
What really differentiates us from other angel investment networks out there is that we never spam our investors with random investment deals and we ALWAYS consider which proposals are best suited for which investors based upon their individual industry type, region and investment requirement.
The amount of investors that receive an investment proposal depends largely on what sector and region you are in but generally we look to send each proposal out to 500 – 1000 vetted UK based investors over an entire listing period.
Most remarkably we guarantee investor interest - or will not charge you a fee.
Venture Giants does not receive any Government support and is currently privately funded.
Venture Giant's Network of Angel Investors can be seen here.
The Bottom Line to this deal:
£45,000 Business Capital raised from one investor that Venture Giants found for Nathan.
Benefits of using Venture Giant:
6 months listing period
No commission on any money raised
Pay on contact business model
Unlimited investor contacts
Inclusion in Venture Giants monthly newsletter to Investors
One, transparent, listing fee that is upto ten times less our nearest competitor.
Venture Giants is a fast and convenient way to get investment proposals out to genuine, vetted, private individuals and angel investors that are looking to invest in UK start-ups and entrepreneurs.
Angel Investors and Venture Giants is a premier UK business Angel investment network that matches private investors with entrepreneurs that are seeking investment capital and business funding.
Looking for Funding for your tech project? Head to the Entrepreneur section now to find out how Venture Giants could assist you in finding the investment capital you are seeking.
Angel Investor looking to Invest in Film investments like the one above? Register now to receive quality filtered investment deal-flow via email.
Follow Venture Giants on Twitter