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Raising Capital in a Crisis

Date: 06/29/2020

Time: 5:00pm
Where: LMHQ, Virtual,
Fee: FREE

Watch Raising Capital in a Crisis

Many early-stage companies took a hit as a result of the current economic crisis, especially in industries heavily reliant on consumer activity. Companies looking to survive face stark choices, and overall fundraising for private investment funds is already in decline – U.S. venture capital investment volume was down 46% in April compared to March, and down 43% year-over-year. With this reduction in the capital supply for startups, what other avenues are left?

 

On June 29, LMHQ & SeedInvest, a leading equity crowdfunding and investment platform, hosted a panel discussion with two eminent founders about how their businesses are coping, and the challenges of fundraising successfully in the current economic climate. Participants heard from Ann Kletz, CEO & Co-Founder of Goal Five, the soccer apparel brand for women and girls that promotes equality and female empowerment. Ann discussed the struggles she has faced obtaining funding, and opine on the future of e-commerce and the shift to online, accelerated by the COVID-19 crisis. Ann was joined by Micha Magid, Co-Founder & Co-CEO of the fast-casual restaurant group Mighty Quinn's Barbeque, which raised over $600k on SeedInvest in the midst of the COVID-19 pandemic. He provided insight into why they opted for equity crowdfunding, and how the company has pivoted its business model to adapt to the changing environment, which has posed particular challenges for the hospitality industry.

 

Key takeaways included:
  • It is important to acknowledge the impact of Covid-19 both to your customer base and to potential investors-- it indicates proactivity and focus.
  • Stay informed and find ways to work with unexpected challenges. For example, Mighty Quinn's has adapted seating models and has started to manufacture soap from food waste.
  • Ann on the challenges of being a female founder: "Prove them wrong!"
 

 

 
Our Speakers:
 
 
Megan Ananian joined the Seedinvest team in June 2019 after receiving her MBA at Yale School of Management. Prior to business school, Megan spent 6 years in investment banking at Wells Fargo Securities where she managed debt private placements, economic development bond financing, and derivatives. She's passionate about reducing economic inequality in the US by democratizing access to private equity investments and connecting diverse founders with access to capital.
 
Connect with Seedinvest: @seedinvest
 
Micha Magid is the Co-founder and Co-CEO of the fast casual restaurant group Mighty Quinn’s Barbeque. Magid started his career within the Mergers and Acquisitions department of JPMorgan Chase. While there, the NYU Stern School of Business graduate advised a diverse range of industries with companies operating in media and technology, aerospace and defense, consumer brands and others. He later made the move into investment management, at several hedge funds focusing on value opportunities as well as special situation investment strategies.
 
Connect with Mighty Quinn’s Barbeque: @mightyquinnsbbq
 
Ann Kletz is the CEO and Co-Founder of Goal Five. Ann brings to her work 25 years of successful start-up, fundraising, and management experience as a CEO, founder, executive director, development director, and consultant. Prior to joining Goal Five, Ann was a Senior Principal at Carlson Beck, a boutique search firm that places CEOs and other senior level executives in foundations and nonprofit organizations. In 1994, Ann founded SportsBridge, a nationally recognized nonprofit that empowered girls through sports and leadership. She continued working at the intersection of athletics, youth empowerment and social entrepreneurship as Manager of Business Development & Athlete Relations at the start-up toy company Get Real Girl, Inc., as Founding Director of the Coaching Corps program at Team Up for Youth (now called Coaching Corps), and as West Coast Director for Right to Play-- a global organization that uses the transformative power of play to educate and empower children facing adversity.

 

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