Demystifying the processes and nuances of funding
Of course, Pentathlon does not invest at the idea stage, so we don’t completely go by our gut. We look for indicators that your idea holds water, like early adopters. If you have customer who’re head-over-heels in love with your product, tell us about them. If your numbers show deep and consistent adoption, let us know about it.
There can’t be a rigid process to get to know someone, but all our conversations have some steps in common.
1 – The crash-course – We read through your materials, presentations, pitch-deck, and anything else you’ve shared to understand if you fit our basic criteria. We also ensure you’re in a space where we think we can add value, and there are no conflicts of interest anywhere.
2 – The first meeting – If you fit the basic criteria, the first step is usually a 30 to 45-minute virtual or in-person meeting with one of our partners. This partner will usually remain your point of contact for the first part of the evaluation. We let you do the talking, and look for you to explain your idea, operational model, and business. We usually have only a few pointed questions for any large gaps in data presented to us.
3 – The demonstration – If the first meeting piques our interest, the next step is to dive straight into the deep end of the pool. Before any more ‘talk’, we try the product, see how it works, and look under the hood to see if all the claims hold true.
4 – The deep-dive meeting(s) – Once we’ve seen the inner-workings of the product, we’re usually teeming with questions. The process of getting to know you deeply starts here. We bring all the skepticism we can muster and question every core assumption. We get to know the company, the team, founders, and their values as deeply as we can.
5 – The partner meeting – If things have gone well at this point, it’s time to introduce you to all the partners. You get to answer any new questions that might arise, and get to know all the partners and their respective strengths. After this, the partners get together and discuss your idea, your company, your product, and your market in detail to make their decision.
6 – The hand-shake – We come to an agreement, work out the specifics of the deal, and begin drawing up paper-work to make the agreement official.