Getting a Series A funding in Singapore is of a paramount need and milestone for a startup. Aside from the funding being much larger than a seed round, many businesses need to demonstrate and show that they have a minimum viable product (MVP) to acquire an A round. Not just a great idea or team.
It is not that easy for seed-funded companies to go with a Series A funding, less than ten per cent of companies raise a seed round better than they do with a Series A. A Series A investment provides venture capitalist fund and even in Singapore it is in exchange for capital. The first series of preferred stock after the common stock issued during the seed round.
Generally speaking, a Series A financing provides up to a couple of years of runway for a startup to develop its products, team and begin to execute on its go-to-market strategy.
Here are three simple steps as to how to acquire series A funding in your startup business.
Acquire an Accelerator
Approximately one-third of startups that raise Series A funding go through an accelerator and the top three accelerators account for 10% of all Series A rounds. The number one factor evaluated for acceptance into leading accelerators is your team.
Advance Your Network
When fundraising, your network is critical. While joining a top-tier accelerator gives you the best statistical chance for success in ultimately getting a Series A funding, these groups only accept about 2% of applicants. Startups that successfully raised a Series A without going this route often did so by networking early and often with influential investors, whether they are Angel Investors or VCs from leading venture capital firms.
Extend and Expand Your Network
Continue to nurture and leverage angel and micro-VC connections before even thinking of pitching them. Take As many new meetings as You can. Building and nurturing genuine relationships before starting the Series A tour can dramatically improve your odds.
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