How can a startup get in front of family office investors?
Short answer: Phil described a Brooklyn startup that received an investment after he connected its executives with leaders at a French retail business. The family had a business reason to consider the company beyond its request for capital.
At a Family Office Club panel, moderator Andre Sospina asks wealth advisers and family office professionals how they review startup pitches and connect founders with capital.
Phil on relevant introductions
Phil said startups should reach people whose background fits what they need. He warned that an irrelevant request can waste both sides' time. (at 13:11)
Gary on seed fund referrals
Gary said a multi-family office may not be suited to one-off startup deals. He suggested building relationships with seed funds that invest in the startup's space. (at 5:44)
Randy on startup screening
Randy said his team first checks whether the startup and its numbers make sense, then looks for families with relevant synergies. He said founders need to know their stage and explain their business plan, financials and expertise. (at 9:55)
A wealth adviser on introductions
A wealth adviser on the panel said an introduction from someone they know gets their attention. The adviser also said a good deck helps, since some startups struggle to explain what they do. (at 11:18)
"I think the the startup needs to find people who are relevant to what they're looking for not just money."
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Fran Tarkenton: Get in the game. As a third string college quarterback, he put himself into a game and led a scoring drive. You cannot make things better from the sidelines, he says.
- Michael Lee-Chin: Find the person who is responsible. When a problem comes up, he asks who the agent was. He wants a specific person to call, not a department.
- Tony Robbins: Think like an owner. His biggest turning point was moving from operator to owner. An operator tries to supervise everything and cannot scale.
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Frequently asked questions
How can a startup get in front of family office investors?
Phil described a Brooklyn startup that received an investment after he connected its executives with leaders at a French retail business. The family had a business reason to consider the company beyond its request for capital.
Could an introduction lead to a later investment?
Gary said a startup might return for a follow-on round and invite the investor then. (6:39)
What can make a startup pitch lose an adviser's attention?
A wealth adviser on the panel said some startups can't explain what they do, which has a chilling effect. (11:46)
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.