Seedplus finds “exceptions” to invest in and will work hard alongside the team to make them extraordinary.
Tiang Lim Foo, Partner at Seedplus, a seed-stage venture firm that invests S$500K to S$1M in early-stage companies, joined us at Found8’s Meet The VCs* last month. In his very candid, open sharing, Tiang shared with us about how Seedplus only invests in exceptions and how they help their companies become extraordinary.
During our chat with Tiang, we learnt the following about Seedplus’s investment thesis:
What they look for:
As an early-stage investment fund that invests S$500K to S$1M in ticket sizes, they typically look at a company with a team, a product launched in the market with some user activity (for B2C) or 1-3 paid customers (for B2B)
The team invests across industries, but shies away from health and med tech, preferring industries they are familiar with and have expertise in.
The investment team looks at the market size and if the founding team has interesting insights on how to leverage the potential at that time given the market size, and if they have the capabilities to do it. Tiang believes that if the founding team can consistently make high quality decisions fast, the team will win in the market.
How they help:
If you are looking for an investment team that does not mind getting their hands dirty, helping you with operational kinks and getting to your next successful funding round, look no further.
The Seedplus team chooses to manage a concentrated portfolio approach so they get to spend more time with each founding team and help them grow their business.
The partners actively help their portfolio companies with strategic decision making, product roadmaps, product launches, fundraising and most importantly, drawing the founding team to blind spots they have not seen yet but which the veteran VCs have come to observe in many other startups they work with. Tiang calls this “a very human process” of how they engage with our startups.
Entrepreneurs need help and they should not be afraid to ask for help from their investors.
As like many VCs in Singapore, Tiang emphasises that they invest in lines and not dots. Even if you are not raising funds today, it is always good to be in touch with them early and keep them updated on your progress. It makes a difference when they see that you have made good on your promises and progressed through learning lessons.
All the best raising from Seedplus! A hint from us: send Tiang a cake to leave a good impression! :)
If you would like to find out more about raising from VCs, don’t miss the next installation of Meet The VCs with Cocoon Capital on 27th August. Sign up here.
*Meet The VCs is a series of fireside chats with VCs where we aim to get deeper into questions that startups have when they are preparing to raise investments. It is Found8’s longest running event (5 years and counting!).