Startup cycle and VC funding overlaid, some top-line VC statistics for India from CBInsights

1. Stage Specifics Startup Funding Pre-Seed Seed
Development Stage Research Development
Startup Stage Foundation MVP
Investors FFF/CC FFF/CC/Angels
Investment Stage Pre-Seed Seed Series A Series B Series C Series D Series E+
Risk Maximum High
Data / Info / Metrics Very low Low / Medium
VC Funds Fund Corpus n/a <$10M
Typical range of
investment size
n/a $100K-$250K
Typical range in # of
portfolio companies
n/a 10-40
Typical equity range /
participation
n/a 5%-10% 5%-20% 5%-30%
Follow-on Reserve Ratio n/a 1:0
Market Stats* % of deals n/a 59% 20% 11% 6% 2% 2%
* CBInsights India, 5 years Average deal size, US$M n/a 0.8 5.5 13.8 24.6 50.7 179.1
as of July 2016 Median deal size, US$M n/a 0.4 4.0 9.2 15.9 31.0 98.0
10%-40%
1:1 - 1:2 1:2 - 1:3+
$50M-$300M >$300M
$1M - $15M >$25M
20-50 15-30
Early Institutional Money Growth Money
Product Risk / Market Risk Scale Risk
Medium / High Very High
Early Growth Later Stage
Commercialization Scaling
Fit / Validation Growth
Product launch Success as a new product Success as a business
cme
Funding Gap
"death valley"
Startup cycle and VC funding overlaid
(illustracve example)
Kirill Kozhevnikov, Sistema Asia Fund Advisory, Singapore/India