AI for VC: Raized.AI Founder Schiffer Exploring Asian Firms' Desire for Data-Driven Startup Selection
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Venture capitalists need to manually review hundreds of pitchdecks before finding an investment, and startups pitch hundreds of VCs before winning funding. Raized.AI uses artificial intelligence to improve deal flow for VCs and CVCs.
Co-founder Penny Schiffer, an experienced innovation scout, knows the pain of processing deal flow and pitching VCs first-hand from her roles on the board of an AI startup, and managing deal-flow for an angel investor group. Her SaaS startup looks to expand its pilot customer base into three countries this year.
How will Raized.AI change venture capital?
VCs still source and evaluate investment opportunities in a manual, non-scalable way that doesn't allow them to focus their time on value-adding activities and is suceptible to human bias affecting their decisions. We're developing a data-driven VC insights platform that analyses a huge number of venture capital investment rounds and startups, to identify patterns for success and discover investment opportunities ahead of other VCs. We leverage state-of-the-art machine learning and natural language processing tech, and combine public data with VC funds' proprietary data sets.
What is the size of the venture capital industry in the region around Hong Kong?
There are about 1,000 VC firms, with well over $100 billion of assets under management.
What are your goals for the trip?
We'll explore how our product market-fit assumptions based on Silicon Valley and European VC firms, can be transferred to the Asian VC environment. Specifically, I want to learn how the KPIs and decision criteria VCs use in Asia to assess seed and series-A, compare with best practices in Europe and the U.S. I also want to gauge regional VCs' willingness to use data to outcompete rivals, and understand how event-driven scouting and FOMO affect their approaches too.
I'll meet with VCs and corporate venture capital investors looking to collaborate around data-driven startup investing, and also discuss our seed round planned for the first half of 2020.
The Venture Leaders Fintech roadshow 2019 to Hong Kong is organized by Venturelab and swissnex China and supported by digitalswitzerland, EPF Lausanne, ETH Zurich, IMMOMIG, PostFinance, Redalpine, Walder Wyss and Canton of Zurich.
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