Founders are capital allocators too... It just looks a little different.

Insights from our November 8th Get Funded! Sessions

Author

Serac Ventures
November 11, 2024

Reliable Resources for Raising Capital by Darrel Frater

Welcome to the 10th edition of The Get Funded! Newsletter—where we break down the latest from our Get Funded! Office Hours session on Twitter/X and equip you with tools to take your fundraising to the next level.

Missed this session? Listen to the recording here.
Interested in joining the next session? See what VCs are coming next and register here.

Attention: I will be in Houston for AfroTech this week so we will not have Office Hours sessions this Friday! See you all next Friday (11/22)!

1. Session Overview:

This week, we hosted two insightful sessions with our fantastic guest investors:

  • Session #1: Nassir Criss, Principal at Sixty8 Capital
    Sixty8 Capital is the first Indiana-based Venture Capital firm dedicated to investing in diverse communities.

  • Session #2: Sarah Marilyn Barrick, Head of Platform at Sidecut Ventures
    ​​Sidecut Ventures backs pre-seed coachable superheroes fighting for economic, healthcare, education equity.

We also had our Pre-Show Founder interview with MC Spano, Founder and CEO of ForceField, a cyber security company committed to fighting fraud. Recording here.

Congratulations to Serac Ventures portfolio founder, Raphael Akinsipe, founder of SocialCrowd, on closing their $2.5M seed round! You can read their announcement on Techcrunch here.

2. Office Hours Recap:

Key Takeaways from the VC Office Hours on November 8th:

  • Session #1 - Nassir Criss, Principal at Sixty8 Capital:

    • Stage: Pre-Seed through Series A

    • Industry: Industry-Agnostic (with a focus on the creator economy, fintech, future of work, HR tech, sports tech, and overlooked communities)

    • Check Size: $250K to $1M

    • How to Apply: Submit at https://www.sixty8.capital/home#contactform or contact Nassir directly

    • Key Takeaways from Session:

      • Investing in Overlooked Founders: Nassir emphasized Sixty8 Capital's focus on investing in minority founders and those in overlooked geographies, supporting impactful solutions within underserved communities.

      • Importance of Data-Driven Pitches: Founders should present clear quantitative data on market size, customer acquisition strategies, and business metrics to build investor confidence.

      • Alignment with Venture Goals: He highlighted the need for founders to be prepared for venture-backed growth, emphasizing scalable models and the potential for significant exits.

  • Session #2 - Sarah Marilyn Barrick, Head of Platform at Sidecut Ventures:

    • Stage: Pre-Seed & Seed

    • Industry: FinTech, Health Tech, EdTech, and Climate, but are open to other takes on doing good things in the world

    • Check Size: $250K - $500K

    • How to Apply: Submit at https://www.sidecut.vc/pitch-us or contact Sarah directly

    • Key Takeaways from Session:

      • Human-Centered Investment Approach: Sarah emphasized the importance of building a relationship based on mutual respect and alignment. Sidecut Ventures treats investment relationships like partnerships that go beyond financials.

      • Problem Clarity in Pitches: Sarah encouraged founders to clearly define the problem their solution addresses. A well-framed problem often clarifies the business’s value proposition for investors.

      • Learning from Failures: She highlighted the importance of rapid iteration and learning from setbacks. Founders who actively learn and adjust based on challenges are better positioned for long-term success.

3. Funding Resources:

Resources of the Week:

Book of the Week:

  • More Than a Hobby: How a $600 Startup Became America's Home and Craft Superstore by David Green
    In More Than a Hobby, David Green, the founder of Hobby Lobby, shares his journey from launching a small business with $600 to building one of the largest arts and crafts retailers in the U.S. This book goes beyond business tactics to explore the values and principles that guided Green through decades of growth and challenges. He discusses everything from customer service and financial discipline to the importance of creating a purpose-driven business culture.

  • Why I recommend it: This book offers practical insights on building a scalable business from the ground up with limited resources. Green’s story is inspiring for those looking to blend purpose with profit, showing how a strong mission and dedication to quality can drive a company’s success. His experiences are invaluable for founders aiming to navigate the complexities of growing a business without losing sight of their core values. You can get your copy here.

Alternative Funding Sources:

  • Access up to $2M in non-dilutive debt financing. Request funding here.

  • Raise up to $5M in equity capital through a Community Round. Request information here.

  • Serac Ventures is looking to invest $250K - $500K into 1-2 more deals by the end of this year. Learn more and consider submitting your company here.

4. Founder Spotlight:

Featured Founder: MC Spano, Founder and CEO of ForceField

  • Overview: MC Spano is the visionary behind ForceField, a mission-driven startup focused on protecting digital evidence and fighting cybercrime. The company tackles challenges related to digital signatures, chain of custody, and data immutability, addressing the $1 billion per minute issue of cybercrime. ForceField’s solution, leveraging digital signatures and seals, is aimed at ensuring the integrity of streaming data in real time, preventing disinformation, deep fakes, and fraud.

    Their Success Story: ForceField’s journey is rooted in MC’s personal experience with accessing digital evidence in a legal case, which highlighted the need for a robust chain of custody solution. With years of R&D, including participation in programs like MIT Solve and Techstars, ForceField has developed an API service that safeguards digital data and offers corporate content authentication. Currently, ForceField is in a pre-seed fundraising round and is preparing for a priced round early next year.

    Future Plans: ForceField aims to expand its API as a service, integrating with major clients and industries that handle sensitive data. They are in the development phase with a leading public insurance company and anticipate scaling further, especially into sectors needing real-time data verification.

What we can take away: MC Spano exemplifies innovative problem-solving, using cutting-edge technology to address a pressing issue in data security. Her journey underscores the power of addressing personal pain points through scalable tech solutions. She also highlights the importance of simplifying complex ideas for broader understanding—often likening ForceField’s role to “the document sign of multimedia” to help people grasp its value.

5. Tweet of the Week:

That’s all for this week’s edition of The Get Funded! Newsletter. We hope you found these insights valuable as you continue your journey to securing funding.

What’s next? I will be in Houston for AfroTech this week so we will not have Office Hours sessions this Friday!

If you’re at AfroTech, hit me up!

Be sure to join us for the next Get Funded! Office Hours session. You can view and register for upcoming sessions using this Calendar.

Be on the look out for our newsletter next week where we’ll bring you more actionable advice, resources, and success stories.

Let’s All, Get Funded!

Best,
Darrel Frater
Investor at Serac Ventures
Twitter/X | Linkedin | Preneur

P.S. If you enjoyed this newsletter, forward it to a founder you know who could benefit from these insights!

P.S.S. Got ideas or suggestions for Get Funded? Shoot me an email at [email protected] for us to discuss!

About Serac: Serac Ventures is an early-stage venture capital firm that targets companies at the seed stage writing checks between $250K - $750K. Our core sectors include fintech, SaaS, and commerce enablement. Learn more at SeracVentures.vc.