VC Lab Accelerator

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Top answer:

You should not sign confidentiality agreements with startups. Ask Base: why VCs can not sign NDAs?  With regards to the Week 4 assignment, upload a memo for a startup that you don't have a confidentially agreement. If you don't have tha...

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VC Lab Accelerator

What is LP Institute?

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Community Member
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Jan 09, 2024

Top answer:

The LP Institute is an 8 week online program built to teach Limited Partners (LPs) the process of investing in top venture capital managers. The program focuses on sourcing, conducting due diligence, and successfully closing on at least ...

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1. Login to fi.co 2. Select the session # from the Program Sessions timeline 3. Write an answer in the text box of a deliverable 4. Select 'Save Your Work' After you have saved your work in each text box, the sprint will be completed an...

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VC Lab Accelerator

How are cash equivalents calculated?

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Community Member
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Dec 08, 2023

The amount of Cash and Cash Equivalents is listed in the assets section of the annual report. 

Top answer:

Cash and cash equivalents refers to the line item on the balance sheet that reports the value of a company's assets that are cash or can be converted into cash immediately.

 -  Rob Del Prete
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Yes - you should pause conversations until your figure out where you will domicile together with LPs. Please note that the Singaporean domicile and licensing process can take 1 year or more. Unless you are based in Singapore, we recommen...

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VC Lab Accelerator

Getting Started: Lawyer onboarding

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Community Member
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Nov 21, 2023

My life-long pal is a successful lawyer with a few PE firms on his docket. Since I already have this connection, would it be wise to put down a retainer with his firm for purposes of fund formation et al. before the first day of accelerator?

Top answer:

Avoid this approach. DO NOT WORK with lawyers that don't specialize with VC fund formation. If the lawyer practices fund formation in other areas besides VC, they are not going to be a good partner. Also, do not spend any time speaking w...

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VC Lab Accelerator

what if the partners are geographically diverse?

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Community Member
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Nov 20, 2023

A former colleague and I are looking to get into the accelerator. however, I am in Scotland and she is in Cairo. Is our geographic separation prohibitive to our success in the program? Or heck, looking beyond the program is it prohibitive to our s...

Top answer:

It's not prohibited for the partners to be in a different geography. However, in order to build an enduring VC firm, there must be a major tangible value-add provided by the different locations. 

 -  Mike Suprovici
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VC Lab Accelerator

What is the ideal partner mix to bring into VC Lab?

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Community Member
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Nov 20, 2023

I have 20 years experience in biotech at Genentech, this is where I met my candidate partner. Are we over-indexed in biotech? should we scout in network for someone with experience in a separate industry?

Top answer:

It is critical that founding partners have a long history of working together prior to starting a VC Firm. A VC Firm is a 15+ year endeavor and it's imperative that the founders have tested their relationship prior to this massive challe...

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VC Lab Accelerator

Is venture institute a pre-requisite to VC Lab?

Asked by:
Community Member
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Nov 20, 2023

I'm seeing the two programs Venture Institute and VC Lab Accelerator. I do not have venture capital experience but feel I am a good candidate for the VC Lab program. Is Venture Institute a prereq to success in the primary accelerator?

Top answer:

Venture Institute is not a prerequisite for VC Lab. The Venture Institute program is a program that's designed to help people break into the venture capital industry. VC Lab is a rigorous closing program that's optimized for new and emer...

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VC Lab Accelerator

Am I too old for VC Lab?

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Community Member
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Nov 20, 2023

My primary career came to a close as CEO of a public biotech organization. I'm now doing some light angel investing and sit on a few boards, however, the passion isn't there. My wife suggested I look into starting a venture, but I am concerned tha...

Top answer:

You're not too old for the program. However, VC Firms are 15-20 year commitments and it's important for you to be realistic with the time comittment required in the coming years.

 -  Mike Suprovici
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VC Lab Accelerator

i've never worked in venture, would VC lab be right for me

Asked by:
Community Member
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Nov 20, 2023

I recently had an exit and am looking for my next raison d'etre. Having taken two startups to acquisition, i'm currently excited about venture capital, but have no experience from the deal side of the table. Would this be a blocker to me joining t...

Top answer:

Most people launching new firms have never worked in venture before, so you're in good company. A number of succesful Alumni had limited experience and succeed regardless. 

 -  Mike Suprovici
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VC Lab Accelerator

What if my co-GP can't participate in VC Lab?

Asked by:
Community Member
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Nov 20, 2023

My co-GP doesn't have the bandwidth to participate in VC Lab, but I would like to get things rolling. They are in agreement with this. Is it an issue if he can't participate in the program? should he apply anyway?

Top answer:

The program has supported many individuals with a partner that has not participated in the program. However, be aware that the progress a partner makes in the program is much faster than partners not in the program. This predicament can ...

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The team does not need to be finalized to join a VC Lab cohort. The program covers best practices on team building and roles as part of the curriculum.

 -  Mike Suprovici
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VC Lab Accelerator

Are there any caps on your end on how much we can raise?

Asked by:
Community Member
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Nov 20, 2023

In other words would your connections only be interested in a $10M size range fund and not interested in a larger fund if we were able to raise more money from our personal networks?

Top answer:

The Limited Partner Agreement (LPA) governs if you can over-subscribe your fund target. Depending on the LPA, managers may need to consult with the Limited Partner Advisory Committee (LPAC) before taking this action. Over-subscribing a f...

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VC Lab Accelerator

Application Question: We are transitioning next year to an LP GP model through a for-profit subsidiary...

Asked by:
Community Member
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Nov 20, 2023

Would it be appropriate for the PACT section for me to list the current earmarked funding/donations that we have managed to get traction on in this period?

Top answer:

PACTs are designed to help managers secure hard circled commitments from Limited Partners. Donations can't be accepted into a VC fund and do not count as LP commitments. However, you can use the PACT upload feature in Hub to attach evide...

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VC Lab Accelerator

Can I add a partner to my firm after the VC Lab start date?

Asked by:
Community Member
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Nov 20, 2023

I just submitted my application on my behalf. I'd like to have a managing partner come on soon, i just haven't finalized those details. Can they come in after the start date?

Top answer:

Yes, they can join as long as it's within the 1st 2 weeks of the accelerator program. If they join after, it will be impossible for them to catch up. To enroll your partner, please email notice@decilegroup.com and the team will work to a...

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VC Lab Accelerator

I am an angel investor looking to shift to Venture, am I a good fit for VC Lab

Asked by:
Community Member
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Nov 20, 2023

I have been providing angel investments to pre-seed startups for the last few years. I only have made 10 investments, and think that what VC Lab offers would help me expand my impact while guiding me in the transition from angel to VC. Would I be ...

Top answer:

There are a number of succesful Alumni who successfully leveraged the accelerator to transition from angel investing to launching an enduring VC Firm. In fact, succesful angel investors are one of the most common Alumni archetypes. VC La...

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VC Lab Accelerator

Do we have any obligations to the Founder Institute as alumni of VC Lab?

Asked by:
Community Member
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Nov 20, 2023

I saw a close connection between VC Lab and the Founder Institute. Does that mean we are beholden to Founder Institute upon graduation from the program?

Top answer:

No. There is no obligation to the Founder Institute upon graduation from the VC Lab program. 

 -  Mike Suprovici
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VC Lab Accelerator

Is firm formation part of the VC Lab accelerator?

Asked by:
Community Member
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Nov 20, 2023

Does VC Lab provide support and guidance on the legal structuring of our candidate firms? When in the process does this take place?

Top answer:

Yes. VC Lab offers Decile Launch, an application only premium formation program with a 94 nps. We open admissions for Decile Launch to VC Lab participants at various points in the program.

 -  Mike Suprovici
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