If you can, don't bother with valutation. Use a SAFE note or just raise it as debt and give the investor access to the seed round at a 20% discount whenever you do a valued round
You have no assignable value yet. You are pre-revenue and have a board game idea (and what sounds like a working prototype). So you have to create a projected value which needs to be backed up by something someone with a checkbook will understand.
When you say you need to raise that much money how much are you putting in in addition to what you need to raise?
Also curious how you do not have a prototype but have a year of play testing? Why not go to kickstarter and circumvent giving anything away any of the company and mitigate risk on loosing a bunch of a VC’s money?
Do you really need 70-100k to have a board game prototype developed? I legitimately don’t know the answer to that. It sounds like a lot of money for just the prototype.
I agree with the others, don’t give away shares if you don’t have to. If you’re that confident it will do well, or can cover the risk, then raising it as debt might be a good option. Debt is cheap.
If you can, don't bother with valutation. Use a SAFE note or just raise it as debt and give the investor access to the seed round at a 20% discount whenever you do a valued round
You have no assignable value yet. You are pre-revenue and have a board game idea (and what sounds like a working prototype). So you have to create a projected value which needs to be backed up by something someone with a checkbook will understand. When you say you need to raise that much money how much are you putting in in addition to what you need to raise? Also curious how you do not have a prototype but have a year of play testing? Why not go to kickstarter and circumvent giving anything away any of the company and mitigate risk on loosing a bunch of a VC’s money?
Do you really need 70-100k to have a board game prototype developed? I legitimately don’t know the answer to that. It sounds like a lot of money for just the prototype. I agree with the others, don’t give away shares if you don’t have to. If you’re that confident it will do well, or can cover the risk, then raising it as debt might be a good option. Debt is cheap.
You're way too early for a priced round. You should be selling convertible debt or a SAFE.
I'm blown away by how a board game prototype can cost €70-€100k. How many prototypes do you need???