At what stage does Crosspring invest?
Crosspring invests in early stage digital startups. Usually we get involved around the stage that the startup has a few first paying clients and are now ready to start growing faster. Depending on the previous experience of the founding team in combination with the GTM-strategy, we sometimes get involved around the MPV-stage as well.
What are Crosspring's investment criteria?
- Startups preferably have a complementary team of at least 2-3 people, meaning we don’t invest in sole founders.
- As we invest in software startups, it is important that there is at least a strong technical co-founder on board. The ideal team contains at least a developer, a designer and a commercial person.
- Next to that, it is important that the concept fits with our own vision, experience and network in that industry.
- Lastly, startups should be very data driven and always have a very customer centric approach.
What does Crosspring offer in addition to the financial funding?
We are an active investor and like to go on this exciting journey together. This also means that we don’t invest in a company if we have the feeling that we cannot add much value next to the money. With decades of experience in bringing innovative companies to market, we know what the difficulties are. We support our portfolio companies with hands-on support across the whole range of troubles (and successes!) they encounter. Sometimes this only means acting as a soundboard every now and again, but it can also mean providing living- and office space, daily mentoring, facilitating the startup visa, introductions to our international network, support in raising money, etc. It all depends on what a startup needs. Our program is always tailor made.
When is it likely that Crosspring will not invest in our company?
Crosspring invests in early stage digital tech startups in the fields of FinTech, AR/VR, Cyber Security, AI, B2BSaaS and Agri-tech. As we find it important to add value to a company in the form of business support, knowledge and a relevant network, we don’t invest in concepts that are too far off from these focus areas.
Furthermore, we don’t feel comfortable investing in sole founders, so we would like to see at least 2-3 people in the team before we consider to invest.
Does Crosspring focus on any particular industry or technology for investments?
Crosspring broadly invests in industries as FinTech, AR/VR, Cyber Security, B2B SaaS, AI and Agri-tech. Of course, we realise that it can be hard categorise your startup in any of these industries. We understand that there is a lot overlap and grey zones here. So, if you’re not sure, feel free to reach out so we can have a look at it together.
Next to that, we have a clear preference for software concepts. This means that we are not the right partner if your concept contains a strong reliance on very specific or ‘to-be-developed’ hardware.
Does Crosspring have a geographical focus for investing?
The location of a startup needs to make sense for their business activities in the first place. So startups at least should be able to show a clear reasoning for their current- and planned geographical location. Not only for us, but especially for themselves.
Over the years we have invested in startups that are based all across Europe and that typically have very cultural diverse teams. We have a strong international network and like to explore new investment opportunities and international collaborations all the time.
What does the investment process look like?
- To quickly determine if we are the right investment partner for a startup, we like to receive a clear and concise pitch deck. Send it to firstname.lastname@example.org, we try to review it within one week usually.
- We ask clarification questions if needed and try to determine if the startup has a potential fit for investment. If so, we schedule a video-call for further introductions and to discuss your plans in more detail.
- If after the first video-call there is still interest on both sides, we start a more thorough due dilligence and often will request more information about the technical / financial side of things. Usually we discuss this over one or two more calls or face-to-face meetings.
- In some cases we request talking to other committed investors or to the startups clients to get another perspective from a third party stakeholder.
- Deal terms are always discussed and negotiated on a case-to-case basis.
What information should I put in the pitch deck?
A good pitch deck helps to spark initial interest. Make sure it’s clear , well designed and to the point. Do not dwell on too many specifics, we can look at that later. In the pitch deck you include information in a structure similar to this:
- Startup name and a sentence that explains your startup’s activities in one catching phrase.
- Problem description
- Your solution to the proposed problem
- Product/Service you provide
- Market potential
- Business model
- Go-to-market strategy + Roadmap
- What do you need?
- Contact details