Matas is a co-founder of Whatnot Venture Builder in Bangkok, Thailand.
He is also a actor/director and previous Co-founder and CEO of Gaorai, an agri-tech platform that connects farmers to freelance agri-drone pilots.
Guest Author: Matas Danielevicius
Embarking on the entrepreneurial journey within Thailand’s burgeoning startup ecosystem is akin to setting sail on the high seas. Armed with innovative ideas and boundless ambition, Thai startups are ready to chart their course through the tumultuous waters of venture capital (VC) investment.
Yet, as any seasoned sailor will attest, a successful voyage requires more than just courage and a sturdy ship; it demands a keen understanding of the seascape and the stars that guide the way.
Understanding the Seas: The Thai VC Landscape
The venture capital landscape in Thailand is a vast ocean, teeming with opportunities and hidden reefs. For startups, the initial plunge can often feel like navigating through a fog—where does one begin?
The key lies in understanding the currents and winds, or in startup terms, knowing the types of investors, investment stages, and what each investor looks for in a potential investee.
Imagine VC firms as islands scattered across this ocean. Some islands are closer, more accessible to early-stage startups with seed funding needs. Others are further out, reserved for ventures that have proven their worth and are ready to scale.
Understanding which island to aim for—and when—is crucial for plotting your course.
Preparing Your Vessel: Building a Compelling Pitch
With a map in hand, the next step is to prepare your vessel. In the world of startups, this means assembling a compelling pitch deck—a beacon that shines through the fog, attracting the attention of VC firms.
Your pitch should not only showcase your innovative solution but also illuminate your path to profitability, your understanding of the market, and the team that will navigate the journey.
Crafting a narrative that resonates with investors is akin to stocking your ship with the finest spices before heading to trade. It’s not just about what you have on board but how you present it to the world.
Setting Sail: Approaching Investors
With your vessel prepared, it’s time to set sail. Approaching VC investors can be daunting, but remember, they’re on the lookout for ships like yours. Networking events, startup accelerators, and industry meetups are the bustling ports where these encounters often take place.
Think of each meeting as a chance to test the waters. Some investors will be intrigued by your journey and may decide to sail alongside you, while others might pass, leaving you to navigate onward.
The key is persistence and the willingness to adjust your sails as you learn from each interaction.
Navigating Through Storms: The Negotiation Process
Even after an investor signals their intent to board your ship, the journey is far from over. The negotiation process can be a storm that tests the resilience of your vessel.
Term sheets, equity stakes, and valuation discussions are the towering waves and strong winds you’ll face.
This stage requires a steady hand and a clear head. Understanding the terms, knowing the value of your startup, and, if necessary, being willing to walk away, are the traits of a skilled captain.
Remember, it’s not just about securing investment but entering into a partnership that will steer your startup toward its desired destination.
The Horizon Ahead: Growth and Scaling
As you navigate past the negotiation storms and the investment capital flows in, a new horizon appears. This influx of resources is your tailwind, propelling you towards growth and scaling.
Yet, with this speed comes the need for vigilance. Managing growth, maintaining your startup culture, and delivering on your promises to investors are the navigational challenges that lie ahead.
Charting Your Course: A Continuous Journey
Navigating the venture capital landscape in Thailand is an ongoing journey, filled with excitement, challenges, and opportunities for learning. With each venture, the seas become less daunting, and the stars more familiar.
For Thai startups ready to embark on this voyage, the venture capital ocean awaits, ready to be explored, with fortunes to be found for those who navigate it well.
As the sun sets on the horizon, casting golden hues over the sea, remember—the journey of a thousand miles begins with a single pitch.
Set your sights high, prepare your vessel, and may the winds of fortune guide you to the shores of success.
