1. The Start Up Challenge Michael Kay Kay Associates May 05
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
14. Private Equity Source: Soundview Technology Group Kay Associates May 05 Stage Funding Sources Agent Seed / Startup Self / Family / Friends / Angels / Venture Capital No Early Stage (Series A) Venture Capital No Expansion (Series B) Venture Capital / Corporate Sometimes Expansion / Later Stage (Series C) Venture Capital / Corporate / Institutional Often Mezzanine (Series D,...) Corporate / Institutional Yes Refinancing (“down round”, “pay to play”, etc.) Self / Venture Capital Sometimes