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An investment thesis is a concise statement outlining the rationale and strategy behind a particular investment.
Nurse Capital is launching its first $1M Seed and Series A venture fund in Chicago to back United States-based Healthcare Digital, Device or Service start-ups founded and led by Registered Nurse entrepreneurs, with a carefully curated network of proven Executive Nurse Leader operators who provide mentoring, advice, and network connections.
For us the ideal pitch deck is no more than 10 slides! Essential information includes: an Elevator Pitch, the Problem, the Solution, the Competition, the Market Opportunity, the Business Model, your Team, and Website Link and finally, the Deal. Remember, your goal is to pique our interest to secure a meeting. The meeting is the time to provide relevant details.
Late Seed investors expect concrete evidence of product-market fit, early gross revenue of at least $1M, and that the company is working on scalability and preparing for significant growth.
Series A investors want to see that the company can scale and that there is a clear path to increasing revenue. Evidence of significant MoM growth is required.
Late Seed rounds typically raise between $2M-$5M while Series A rounds usually secure between $5M to $15M, depending on the company growth stage
In Late Seed rounds we expect a core founding team that includes technical and business expertise, led by a Registered Nurse founder. By Series A, we seek a more structured team, with defined roles in marketing, sales, and operations, as well as a clear plan for future hires to support scalability and sound economics.
For Late Seed rounds, VCs look at product-market fit, a viable business model, early customer traction and revenue growth. For Series A, we emphasize consistent revenue, scalable business operations, solid unit economics, robust customer acquisition strategy, and a clear path to profitability.
In a Late Seed round, founders might give up 10-20% equity. In a Series A round, this can range from 20-30% equity.
In Late Seed, we focus on the potential of the idea and the team along with product and market risk, ensuring there’s demand for the product. In Series A, we assess execution risk, evaluating whether the company can scale efficiently and achieve significant market penetration. Investment decisions are based on early performance metrics (such as user growth rates, retention rates) and growth potential (revenue trends).
Our Due Diligence (DD) process occurs in 4 steps. Our first step is evaluating a company’s pitch deck. We assume the start-up pitch deck submitted by RN CEO/Founders meet the fund’s investment criteria listed on our web site.
Second, each General Partner (GP) individually assesses the startup’s business model, market potential, competitive landscape, financials, and then meets with the leadership team. If both partners are in agreement about the start-up company’s potential, the due diligence process begins.
Due diligence includes conducting market research, completing customer interviews, and reference checks. We also analyze the legal, technical, and operational aspects of the startup.
The GPs present investment opportunities to the Investment Committee, two times per year, following completion of the due diligence process. The Investment Committee includes the two GPs and two Limited Partners (LPs) who have operational expertise related to that particular start-up company’s solution. The GPs make final investment decisions in collaboration with the LPs,
Finally, the GPs negotiate investment terms and structure.
Successfully raising a Late Seed or Series A round can attract further investment by providing validation of your business model, showcasing growth potential, and indicating that the company is backed by reputable investors, thereby reducing perceived risk for future investors.