Hozit guys. I have been working on a project of considerable value. I however need funding beyond my current means. I have been ofered R4 million all the money I need and more to continue but not at terms have not specified as yet. I am needing about R300 000 to take it to the next level. The returns are 500% or nothing.. so its a case of win big or go home with empty pockets. Any sugestions?
Lots of corporates have a venture capital portfolio, just need to get to speaking to the right department. Different corporates have different objectives though, some are BEE Enterprise Development, I know of one that is only interested in aircraft, Innovation Fund does South African innovations - but I think they wanna keep your patent. Where you go depends alot on the business model. Some banks also have venture capital portfolios, but again they usually also want to see economic development and often a BEE component. What about JCCI - I think they also finance. Also John, a 500% growth on risk is nice - but what's the time-frame? What are the risks ..... (other than 100% blow-out) bla bla bla. Mail me, really. [email protected] :-) Besides, surely another month of trading you can just make the 300K all by yourself.
I've heard rather bad stories about venture capitalists. They will always try to control your business and then take as big a slice for themselves as they can. I've had some dealings with the Innovation Fund. The thing with them is that they want your design to be completely new (lots of overt innovation all over the place) rather than to be practical (follow the herd where it makes sense, with innovation only where needed), to maximise the patentability. Very few of the projects funded by the Innovation Fund have ultimately been successful. The bottom line is that if you want to retain control of, and benefit from your project, you're better off on your own.
No not a VC, just will have some money (if the agreement is signed this week) to put into a worthy venture to increase the capital some more. "Please Sir, can I have some more..". I wanted to retire at 30 but missed that boat so now need to make other plans.
Platsak, I agree 200%. My lawyer has a mandate to investigate if any negotiation take place, the other parties rights and IP are protected first and formemost. Only when that is done will I consider talking to them. I am not in the habit of trying to screw ppl out of their rights. Learnt the hard way a few years ago. Got screwed big time for opening my mouth to soon and to the wrong people..