Knowing when it’s time to scale your business can be challenging. Here are three signs to look out for that can help you decide if you’re ready to partner with a micro venture firm.
As a $6 million micro venture capital investment fund, Valley Growth Ventures has partnered with exceptional high-tech startups to increase their financial footprint and place them on the path to greater success. This is due in large part to our strategic approach, which leverages the knowledge and expertise of our skilled team and thorough due diligence process to attract exceptional ideas and talent.
So with this type of significant capital available in Ohio, how will you know if the time is right for your startup to seek out funding?
#1: You have a scalable idea with high earning potential
Are you in a high-growth industry with a unique idea? If so, consider seeking out an investment partner to help your idea turn into a business that can create value. Companies that have a strong management team, are working in the beta product through market entry stages, and have a minimum $500 million market size fall within our ideal criteria for investment.
As an example of Valley Growth Venture’s value creation, in 2018, the firm invested in partner MedPilot, a healthtech company focused on enhancing provider and patient communication to transform the patient experience. In March 2021, MedPilot became the fund’s first investment exit, as the company was successfully acquired by New Jersey-based Vytalize Health.
Sign #2: You need financial assistance to grow your business
If you’ve gotten to a point where you’ve identified a true need for your product or service, but you don’t have the funds to drive awareness and growth, it’s time to consider seeking out funding.
As the premier micro venture firm in Northeast Ohio, Valley Growth Ventures invests
in several industries, including but not limited to software, IT, energy, additive-
manufacturing, and advanced materials. We recognize when a growing company is ready to move beyond beta and begin commercialization, and partner with businesses to incorporate our knowledge, expertise, and capital resources to ultimately promote maturity to exit.
Sign #3: You have a solid founding team
The founding management team is the ultimate key to a successful business. People on your team can bring different, positive elements to the table. Some may be the visionaries, others the operationalists or strategists. But, combined, the team members have the same goals in mind and help the company reach them—with or without fail. You’ll know your co-founding “recipe” is suitable when you notice these characteristics in your team, and your members also help to onboard new employees to grow the company.