VENTURES: The Venture Capital Test
Recent Western Cape Business News
To assist prospective businesses in ascertaining if they are suitable candidates for venture capital funding, Mark Shuttleworth’s Cape Town venture capital company, Here Be Dragons (HBD), has compiled a venture capital readiness test. Going live this month, the test can be found online on HBD’s website.
HBD has been behind many local success stories including OrderTalk, a sophisticated online ordering solutions company for the food service industry, and Moyo, the highly successful contemporary African food, art, music and culture business to name a few.
Providing the capital and management resources, HBD has opened many doors for its investment companies as venture capital is a gateway to rapid expansion and possible international success. This makes it the ideal funding for businesses with innovative ideas and original, practical solutions.
“For prospective candidates it is important to know the ins and outs of venture capital before applying for backing as it not necessarily the right solution at every stage of business or for all entrepreneurs,” says HBD CEO, Julia Fourie.
The HBD test is quick and practical, designed to both educate and prepare potential applicants for what they can expect from venture capital and a partnership with HBD. The test guides applicants through a number of important decisions and points they will have to consider carefully should they wish to embark on a partnership with a venture capitalist such as HBD.
Consisting of three deal breakers and another 15 questions the test thoroughly covers the journey of a venture capital investment. Questions such as: ‘Will your revenue grow by at least 30% each year?’ and ‘Are you prepared to part with a significant ownership stake in your business which may result in the loss of control?’ are tough choices that need to be made a-head of time. Answering yes to the majority of questions may mean that you are on the right track for venture capital.
To take the test, visit HBD’s website at www.hbd.com.
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