The Pre-Seed Angel Fund for SaaS Startups
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The SaaSgarage is well recognized in the European seed stage investing scene. Focused on Business to Business Software as a Service (B2B SaaS), SaaSgarage provided seed stage funding for a number of globally recognized, market leading companies like FreeAgent, UK (exited), Contenful, Germany, Softgarden, Germany (exited), Geckoboard, UK and is highly regarded as an active and passionate mentor and coach for entrepreneurs and founders.
SaaSgarage receives high quality dealflow through direct referrals from its own portfolio and vast partner network. SaaSgarage’s recognized brand drives additional dealflow through a variety of different online channels, e.g. LinkedIn, AngelList, Crunchbase, dealroom.
The SaaSgarage has built and manages a portfolio of leading European SaaS companies in different stages from Series Seed to Series D, with total raised capital ranging from Euro 1M to Euro 60 Million.
SaaSgarage has successfully exited a number of well known European SaaS companies either through an Inital Public Offering (IPO) or Trade Sale to strategic buyers or Private Equity firms.
Exited companies:
SaaSgarage’s portfolio companies have raised successful financing rounds subsequent to the Series Pre-Seed or Seed funding, co-led by SaaSgarage. Many of its portfolio companies have raised three to four follow-on rounds from Series Pre-A to Series D and E from renown, top tier European and American Venture Capital firms.
The co-investor map below shows the current SaaSgarage portfolio co-investor eco-system as of Mai 2019:
Typically SaaSgarage engages with very early, sometimes pre-revenue, startup company and a core component of its Investment Strategy is to increase stakes in promising portfolio companies through further participation in follow-on rounds up to Series A, A+ and B stage.
Initial investment In most cases The SaaSgarage co-leads very early stage Series Seed type financing rounds of Euro 300k – 1.5M at valuations between 2.5M to 5M. In many cases local government funds participate in such financing rounds. At that stage startup companies usually have first trial projects with customers, hence an initial product (MVP) is released and used by a few first customers. Early monthly subscription revenues (MRR) between 5k to 30k Euro are generated. Due to Diligence and reference calls with first customers can be conducted.
Follow-On investment Typically SaaSgarage’s portfolio companies raise follow-on rounds every 18 – 24 months in order to sustain aggressive growth and defend market leadership. Instead of spreading funds and portfolio attention to thin, it is SaaSgarage’s strategy to work closely with the founders and executives of its portfolio companies. With that deep knowledge and insight about its portfolio companies, SaaSgarage can make profound investment decisions in any follow-on financings in the portfolio. Such growth stage financings range from 4M to 15M Euro at valuations between 10M – 30M. KPIs at Series A reach 100k – 150k MRR and 300k – 500k at Series B or C stages. The main risk is mainly reduced to execution and global expansion.
I continue to receive inquiries concerning the SaaSgarage fund and how the fund structure looks like. All SaaSgarage equity investments are made out of my personal German investment company (Beteiligungsgesellschaft mit beschraenkter Haftung). Nevertheless, SaaSgarage is familiar with co-investment models, e.g. managed SPVs (Special Purpose Vehicles) or Partiarische Darlehen (profit participating loans). Interested private individuals and family offices can allocate funds alongside a lead investor, e.g. SaaSgarage.com.
Interested co-investors may contact me via email for further information. Contact details see below.
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