Episode 16: First Launch Capital Fund

First Launch Capital Fund is a pre-seed/seed-stage venture capital fund headquartered in Greensboro that focuses on capital appreciation, economic development and job creation through investments in companies with high growth and future funding potential. The fund recently announced the closing of an investment in ThreatSketch, LLC a Winston-Salem-based cyber risk management tool.

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This episode is sponsored by Truliant Federal Credit Union

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Today’s host is Lou Anne Flanders-Stec, the Chamber’s Executive Vice President of Launch Greensboro, where she is responsible for programming for early-stage entrepreneurs. Lou Anne is also the Fund Executive for First Launch Capital Fund, a seed stage venture fund based in the Piedmont Triad region of North Carolina.

 

00:58 - Lou Anne opens with an introduction of herself and First Launch Capital Fund. She is joined by Bill Soles, an investment banker turned private investor, and Rob Arnold, the founder and CEO of Threat Sketch, a company that provides cybersecurity risk assessments for small and medium businesses.

 

3:32 - Lou Anne asks Rob for more on his background and what prompted him to start his own technology company. He explains how his early career enabled him to learn about many different technologies, allowing him to turn to independent consulting, and then started graduate school to learn more about the growing field of cyber security. Rob explains how this all led to the formation of Threat Sketch.

 

8:58 - There are a few real keys to success in the entrepreneurial and investment world. Lou Anne asks Rob what his keys to success have been in developing his company, and what aspects he thinks provide continued success for the future of his business. Rob emphasizes the strength of the entrepreneurial resources in the Piedmont Triad, credits the Lean Startup Bootcamp put on by the Startup Factory for giving him a firm foundation, and local angel networks for continued support.

 

12:55 - Lou Anne asks Rob about why he decided to raise capital for his business and what made him choose First Launch Capital as his investor. Rob explains that accessing capital allows a small business to grow more quickly and with more stability, while also being able to try riskier products and markets. Good investors mean the business can have more shots to optimize the product market fit and maximize return on investment.

 

15:30 - Lou Anne asks Bill how he approached the fundraising process, as one of Threat Sketch’s key advisors. Bill gave the investor perspective and was able to clue Rob in to the need to “talk the talk” to investors, rather than speaking solely from an entrepreneur’s perspective.

 

17:10 - Lou Anne inquires why Rob accepted First Capital’s invitation for investment. Rob explains that First Launch is a bridge between the angel investment and the seed round that the company was planning later in the year. He wanted to signal to the investing community that Threat Sketch was growing and wanted to build a strong, very local company.

 

18:58 - Lou Anne asks Bill what his top considerations are when he makes an investment, and what he advises companies to think about when they start approaching investors. Bill explains that startups and early stage companies need a strong team with good entrepreneurial experience, ready to give 150% to the growth and success of the company. There also needs to be a big market for the product or service, multiple exit opportunities, and minimal capital to have the business succeed.

 

24:48 - Bill emphasizes the excellent management team that Threat Sketch has as another strong point of a good investment opportunity. A team needs to be able to pivot and adapt with strong leadership and good ideas.

 

25:30 - Lou Anne asks Bill what are the key goals and outcomes he has as an investor, besides the obvious return-on-investment. He sees positive results in financial return, job creation and growth, and strengthening the local and regional economy to keep the highly educated younger populations graduating from the colleges and universities. 

 

31:50 - Lou Anne wraps up with more information about First Launch Capital Fund, how companies can qualify for investment opportunities, and how First Launch truly helps support early stage companies grow with more than just financial resources. 

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Threat Sketch: https://threatsketch.com/

 

First Launch Capital Fund: https://www.firstlaunchcapital.com/

 

Contact Lou Anne (lafstec@firstlaunchcapital.com) if you’re interested in learning more about 

venture capital opportunities for your business.

Learn more about First Launch Capital Fund at firstlaunchcapital.com.

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