Get Funding
111 has been created by entrepreneurs for entrepreneurs. We invest €0.2M to €1M in rounds of up to €2M in in a variety of high-tech businesses mainly in the big data, fintech, artificial intelligence, gaming, entertainment and intelligent transportation industries. We will help your startup turn into a growth business. If you have a growth business we consider larger investments generally up to €5M. 111 also provides advice on businesses seeking to exit via an IPO or acquisition.
What we are looking for
Sound Business Model
We strongly believe that sound businesses have sound business models that can be clearly explained in a simple and straightforward manner. At minimum, we need to see a working minimum viable product with clear demand in the market, possibly with customer references and a clear path to revenues together with a clear customer acquisition plan. Ideally you are generating income at an early stage, perhaps via pilot projects, early adopter revenues and executing on a clear and affordable customer acquisition strategy. We love subscription models and business plans that throw off recurring revenues and liquidity. We are less keen on models requiring large volumes of low-value customers as they tend to be hard and expensive to acquire and retain.
Excellent Team
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Committed Team with Complimentary Skillset
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Relevant Past Experience
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Consistent Track Record
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Can Explain Ideas Clearly and Supported by Data, not Assumptions
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Ability to Attract and Hire great people
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Ability to Delegate tasks effectively and build Company Culture
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Lean Operations without Excessive Overheads
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Listens and Communicates Clearly
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Really knows the customer and industry and understands the problem
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Has a sound solution that leads to a repeatable & scaleable business
Right Market and Timing
We want your company to become a leading regional or global business and are looking for exits >€50m. If your market is >€0.5B in your region & you have typically high software margins, this suggests a large enough global market to grow into a great sized business for 111, but we use that number only as a rule of thumb. In some cases we prefer to be a big fish in a smaller pond than a smaller fish in a larger pond.
What we are NOT looking for
- A founding team of individuals with similar and over-lapping skills and little experience in their chosen market
- A CEO looking to setup a lifestyle business – where there is a gap in the market, but there is not enough market in the gap!
- A product with no underlying sound business model and no prospect of sales traction in the very near future
- A business in a fiercely competitive market with little differentiation or unique selling points
