NextView Ventures Everyday Economy Accelerator
In addition to leading institutional seed rounds, NextView also offers a virtual accelerator program for the earliest stage companies in need of smaller dollars and hands-on mentorship. This accelerator differs from our typical investing in that there is a standardized deal, engagement model, and follow-on financing policy.
We have created this program because we recognize that VC investment tends to flow towards founders with established VC relationships rather than a more diverse set of equally capable founders. Additionally, many historical accelerators have shifted from being true pre-seed catalysts to programs overly focused on existing traction to optimize follow-on funding hit rates. This is a hyper-focused program with high engagement from the NextView partners and our close knit industry leading advisors. For more details on this accelerator, see the information below or our original blog post launching the program.
Pre-Seed & Seed stage startups located anywhere focused on the U.S. market who could benefit from capital and engaged hands-on mentorship from the NextView partnership & extended advisor network. Consumer and SaaS B2B companies that use technology drive a brighter collective future for mass market end users, per our investment approach thesis.
The culmination of this accelerator program ISN’T a demo day or a big show. Instead, the sole goal with of the program is RESULTS, namely:
- Demonstrably advancing a startup towards true product-market fit
- Further capitalizing the company for success.
All startups receive $200K for 8% of the company upon acceptance into the program. We will leverage the standard YC post-money SAFE document with a valuation cap and no discount.
THE REAL DEAL
Unlike most accelerators in which participants are shepherded along a programmatic path within a large cohort of peer companies, the Everyday Economy Accelerator is about hands-on personalized engagement to push the company forward. For an initial three-month period all participant founders will be scheduled into weekly hands-on Zoom mentorship meetings with at least one NextView Partner to push strategic thinking, drive accountability, and provide access to the broader NextView network. Beyond scheduling product and go-to-market sessions with our Operator Guild members, who hail from companies like Slack, Wayfair, and HubSpot, we’re currently in the process of assembling an extended network of mentors for supplemental mentorship and business development.
OUR BRAND PROMISE*
To avoid signaling issues, we intentionally will not lead the next round of financing for our accelerator participants. However, we will strive to work with all accelerator companies to shape the underlying business, craft the fundraising pitch, and make introductions for new downstream investors until the company is subsequently financed. Participants are empowered to market that we are willing to do at least our pro-rata in the next round.
This acceleration program is entirely virtual from application, to selection, to participation – no startup relocation, temporary or permanent, is necessary or requested.
WHO WE ARE
Everyone on the NextView partnership has deep operating experience as founders and operators scaling high-growth internet companies (e.g. LinkedIn, PayPal, eBay, Blue Apron), and being hands-on investors is part of our core.
WHEN & HOW
We kicked off the accelerator with an inaugural cohort, but going forward, will be operating the accelerator on a continuous basis. This means that after XZY date, there will no be specific “batches” and applications will be considered on a rolling basis. During the program, there will be plenty of opportunities for engagement with other founders and alumni within the accelerator and also between other founders in the NextView portfolio.
Applications are open, but will start reviewing them again Tuesday September 8th, 2020, and notifications to those companies for interview consideration will be shared within two weeks of closing.
Who is NextView Ventures?
- NextView is a high-conviction, hands-on seed and pre-seed investor. Our approach and pitch to founders can be found here.
What types of companies can apply to the NextView Everyday Economy Accelerator?
- This program is intended for pre-seed and seed stage companies that are incorporated and targeting customers in North America. Startups that have been operational for less than three years and have previously raised less than $2M of capital will be considered. Companies that have raised more capital or have been around for a longer period are unlikely to qualify, but will be considered on a case by case basis. There is no minimum requirement for product development, revenue, or other traction milestones other than the company must be already incorporated with the Founders working together full-time.
What Are Your Investment Themes?
- A Few of the themes that the NextView Partners are currently thinking about are listed below, but we are open to all B2B and B2C companies that broadly fit our Everyday Economy focus:
- David: Consumer paid subscription business models, conversational & next-gen marketing, healthy living & eating
- Melody: Democratization of data analytics, next-gen commerce/commerce infrastructure, modern loneliness
- Rob: Second-order effects of COVID on Health tech, “peace of mind” business models, senior and child care, sustainability and climate
- Lee: Future of transportation (people & goods), sustainable commerce
What are the terms that a startup agrees to – what is the NextView Virtual Accelerator Program deal?
- All startups receive $200K for 8% of the company upon acceptance into the program. We will leverage the standard YC post-money SAFE document with a valuation cap and no discount.
I have applied, now what?
- Applications will be reviewed on an rolling basis starting Tuesday September 8th, 2020. Invitations for a real-time interview and decisions will be rolling.
Feel free to submit additional questions to email@example.com with “Accelerator Question – “ in the email title. While we cannot directly answer all inquiries, we will look to post additional answers to additional common questions.
* Of course, we can’t guarantee success. While each participant will receive access to the full compliment of preseed support we provide, variations are bound to exist among participants in how that support is utilized and the results it produces. Moreover, we may not be able to find suitable financing for a participant’s next round, and participants should not expect NextView to step into that breach.
We at NextView Ventures are sensitive to the challenges which all startups face during these times brought upon us by the current Coronavirus crisis. As we have discussed elsewhere, the world of early stage investing is shifting from FOMO (Fear […]