FM Ventures provides an innovative solution for startups that are in need of both seed funding as well as a software development team. The traditional finance model for a tech startups is to go to a venture capitalist (or other funding source), get money and then spend most of it on software development. We thought we could optimize the process by taking care of some funding and the software development in one deal. And so, FM Ventures was born.
We try to keep the process as simple as possible: we’ll provide an investment in software development services and in return ask for a small investment in the startups (typically no more than 10%). Why are we doing this? A couple of reasons:
- We enjoy working with startups. We feel that we have a lot to bring to the table and have decades of experience working with technology companies (including startups) and helping them to achieve their goals.
- We want to show our commitment to the entrepreneurial community.
Benefits to you
FM Ventures can provide a lot of different benefits to you and your team, including:
- Save Money: With Freeport Metrics as part of your team, you won't have to spend most of your money paying full rate on a software development company. Plus, you save time finding one.
- Tech Team In-Place: Should additional funding be needed, most investors want to know who is going to be on your team before they give you any money. By having us on your team, you come to the plate with not only your great tech idea, but a team of experienced software developers behind you who can help give your startup additional credibility.
- Matching Funds: Often investors will want a startup to come to the table with matching funds, which is hard to do as a startup. Our investment of software development services can qualify as matching funds.
- We Know the Ropes: We’ve done this a few times before - we understand the process of applying for different kinds of grants and other funding sources and can generally be a valuable asset for you in this process.
- Simplicity: We aim to keep the process and the deal as simple as possible. Our model is straightforward - we don't want you (or us) to have to spend a lot of time hashing out a deal. We’ll keep the legal and contractual arrangement process simple.
- Keep Your Equity: We’re not looking to take over your company or have a seat on the board. We’re only looking for a small investment (no more than 10%), so that you can keep your equity and remain in control of your own company. We want to help build your dream, but you will be in the driver’s seat.
Will FM Ventures be a good fit for your startup? Here are the criteria we will use to make this decision:
- Vetting Process Approval: Our vetting process will include whether or not we believe your idea can be a successful match, based upon your business model, your team, the potential market and the technology that will be required.
- Cash Match: We do ask that our FM Venture clients are able to make some kind of cash match. We’re prepared to invest our own money and time in your idea; we expect that you should be, too. We can’t work for free, but we can help you leverage the money you bring to the table.
- Our Equity Stake: In most cases, we will want no more than 10% equity in your business
- Investment: In a typical FM Ventures deal, we would invest between $50,000-$100,000 in software development services. When we do the valuation, we will take approximately $5000 out for legal fees, etc.
Do you think your startup might be a good match for our FM Ventures program? Let’s talk. And should this specific program not be a good option for you at this stage, there are other options we can suggest for you, including our own Freeport Metrics Freebie Friday sessions.
Get a free consultation for your startup.Sign up
Freeport Metrics is pleased to offer Freebie Fridays - a monthly meet up where you can talk with our software & tech experts about the needs, ideas or road blocks that your startup is facing.
- Vet your tech ideas with an expert
- Learn if your idea is feasible, doable, affordable
- Brainstorm work-arounds to problems
- Discover new ways to look at your idea