Investor Office Hours w/ Momo VC & Vine Ventures

The Spaces hosted by Darrell Frater, focuses on connecting founders with venture capitalists (VCs) to help them pitch their ideas and gain insights. The session introduces Momo VC's Preety and Sajon, emphasizing their dedication to supporting underrepresented founders with their $2 million fund. They aim to provide both capital and strategic support through a network of industry experts. Key takeaways include the importance of founder resilience, proper pitch preparation, understanding market trends, and establishing strong relationships with investors. The event highlights several startups pitching their ideas to the VCs, informed by guidance on what attracts investor interest in today's market.

Office Hours Introduction

Darrell Frater launches the investor office hours, expressing appreciation for participants. He introduces Plaza 210, a project to incubate entrepreneurs locally in Tulsa, Oklahoma. Frater discusses the plan for the audio space, highlighting its low production cost and valuable networking opportunities with VC friends and founders.

Guest Introduction: Preeti from Momo VC

Preeti, originally from Nepal, is introduced as the guest from Momo VC. She explains the fund's name origin, aligning with comfort and mentorship for entrepreneurs beyond capital. Momo VC focuses on underrepresented founders in sectors like AI, cybersecurity, health tech, and sustainability.

Momo VC’s Mission and Focus

• Underrepresented Founders: Momo VC targets diverse groups, including gender, race, and community, aiming to provide mentorship and strategic advice.
• Fund Details: Their first fund is $2 million, focusing on pre-seed and seed investments. Aim to provide not just money, but strategic support through an expert network.

Criteria for Investment

Preeti talks about their focus on geographical incorporation in the US initially for simplicity and control. The fund emphasizes strategic help over sheer check size.

Advice to Founders

Preeti advises founders on networking for fundraising, establishing relationships to navigate the venture ecosystem effectively. Emphasizes the power of community and shared mentorship.

Transition to Founder Pitches

Darrell encourages founders to optimize their bios for visibility. A 1-minute pitch format is announced, requiring founders to show their why and traction.

Founder Pitch Session

1. Aaron from Pebble - An AI fintech B2B SaaS for festivals, tracking vendor sales without hardware. Question on investor metrics of excitement answered by Darrell due to technical issues: Revenue preferred, but customer validation also valuable.

2. Antoine from Credit Genius - Fintech SaaS platform integrating credit coaching through AI. Discussion around two-sided platform onboarding managed by Sazon in place of Preeti.

3. Gregory Jones from Youth Data Engine - Expresses frustration with VC barriers and performative engagement, seeking advice on overcoming underrepresentation hurdles.

Sazon advises utilizing pitch templates like Lean Canvas for clarity and engagement.

Session on Venture Capital with Tim

Tim from Vine Ventures discusses a varied professional background, now a strategic investor focusing on North America, Europe, and Far East Asia. Vine Ventures focuses on resources, hardware, and software, avoiding defense investments.

Insights on Venture Trends

Tim highlights the shift to more risk-averse investments due to global instability. Emphasizes MVP and revenue traction importance over just idea presentation in today’s funding landscape.

Advice for Founders

Tim advises clarity in problem-solution articulation, establishing validated market needs, user growth metrics, and strategic partnerships.

Founder Pitch Examples

1. Ratnam from Jeopardy - AI platform for consumer electronics review aggregation. Queries about focusing on product development versus distribution at pre-seed stage.

Tim stresses the importance of product validation and marketing as key thrust areas alongside user engagement metrics like DAU and MAU.

2. Nana from Pathways Immigration Services - Operating system for immigration law, enabling professionals to automate and track workflows.

Tim points out metrics like DAU, Mau, and user growth as significant indicators of success in B2B Saas ventures.

3. Oliver from Extra Sense - IoT for tracking rodents in cities. Exploration into b-to-G business model due to expedited sales cycles with governments.

Tim notes that funding cycles have grown longer, requiring sustained relationship-building and trust.

Conclusion

Tim offers guidance on how founders can connect with Vine Ventures, encouraging follow-up and detailed pitch submissions.

Closing Remarks

The event ends with a reminder of future sessions featuring Side Cut Ventures and Temper Veris Ventures. A recurring theme across the discussions stresses mentorship, community building, and the criticality of strategic advice beyond monetary investment.