venture capital full 2013 report

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Venture Capital report


  • 1. Branding and Venture Capital: Research Preview July 2013
  • 2. Page 2 The Brand Influence Guide for the Venture Capital Industry BIG: VC
  • 3. Page 3 The BIG Question Does branding matter for venture capital firms?
  • 4. Page 4 Like it or not, you already have a brand. Are you controlling your brand? Does your brand accurately represent who you are? Does it represent who you WANT to be? Is it connecting with your key audiences?
  • 5. Page 5 Overarching questions we set out to answer. What are the challenges in building an authentic and differentiated reputation in the VC industry? What do VCs believe are the effective brand behaviors to attract entrepreneurs and LPs? What key attributes and behaviors are entrepreneurs and LPs looking for when considering partnership with a VC firm? How can VC firms close respective gaps between where they are today and where they want to be in the future, from a brand perspective?
  • 6. Page 6 Our 360 Degree Approach Compare and contrast views across stakeholders Communicate findings to members CEOs Venture Capital Firms Limited Partners Survey
  • 7. Page 7 The Players DeSantis Breindel Rooney & Associates National Venture Capital Association NVCA Advisory Board Heather Hunter, Safeguard Scientifics Jennifer Jones, Jennifer Jones and Partners Kate Barrett/Suzanne King, NEA Liz Mansfield, True Ventures Marta Bulaich, Canaan Partners Kelly Mayes, Lightspeed Venture Partners Dow Jones VentureSource Database
  • 8. Page 8 Methodology Online quantitative surveys sent out through Qualtrics Qualitative interviews with select LPs
  • 9. Page 9 Who Responded
  • 10. Page 10 Who Responded
  • 11. Page 11 Who Responded
  • 12. Page 12 The 6 BIG Findings
  • 13. Page 13 1. Brand Impacts Deal Flow
  • 14. CEOs believe a strong brand can help VCs attract entrepreneurs. Page 14
  • 15. BIG Takeaway For CEOs, picking a VC firm is about more than money its an emotional decision. Your ability to tell a rich and compelling story will get you in the mix of more and better deals. Page 15
  • 16. Page 16 2. The VC-CEO Brand Gap
  • 17. There is a disconnect between those attributes that CEOs deem most important and the attributes that VC firms emphasize. Page 17
  • 18. Page 18 LPs understand what CEOs are looking for. Trust and collaboration are critical. Entrepreneurs are looking for someone to help them build their business not just partners, but the whole firm.
  • 19. Page 19 VC firms underestimate the importance of gender.
  • 20. Page 20 2/3 of female CEOs say gender make-up matters.
  • 21. Page 21 Proximity matters more than reach.
  • 22. Page 22 BIG Takeaway VC mindsets are not always aligned with CEO expectations. CEOs want to work with VC firms that are entrepreneur-friendly and collaborativeBUT they are wary of firms that are too hands-on. Gender mix matters more than VCs realize, especially to female CEOs. CEOs are more interested in proximity than any other geographical factor.
  • 23. Page 23 3. The Entrepreneur-Friendly Firm
  • 24. Page 24 CEOs want to work with entrepreneur-friendly firms.
  • 25. Page 25 The value that a VC firm adds beyond funding is almost as important to CEOs as the firms reputation.
  • 26. Page 26 Creating a community of portfolio executives trumps all else.
  • 27. Page 27 BIG Takeaway Its not enough to say youre entrepreneur-friendlyyou have to show it. Build a brand around what you do, not just what youve achieved (performance)...and align behaviors to deliver on that brand promise. What are you doing today that supports an entrepreneur-friendly brand? What are you doing today that is inconsistent with an entrepreneur-friendly brand? What could you be doing to amplify your entrepreneurial-friendly behaviors?
  • 28. Page 28 4. Channels of Influence
  • 29. Page 29 WOM rules.
  • 30. Page 30 LP and VC recommendations are less influential than peers recommendations.
  • 31. Page 31 Dont underestimate others in the ecosystem
  • 32. Theres a disparity between the channels CEOs find influential and the channels you believe best deliver your messages. Page 32
  • 33. Page 33 BIG Takeaway Your brand runs deeper than what you sayits what your most important audiences say about you. Understanding and shaping your reputation among key influencer audiences in the CEOs world is critical for creating positive word of mouth and driving CEO perceptions of your firm.
  • 34. Page 34 5. The Individual Reputation vs. the Firm Brand.
  • 35. Page 35 VC firms believe the reputation of their partners and portfolio companies are equal drivers of brand.
  • 36. CEOs feel strongly: Your brand is driven mostly by your partners. Page 36

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