What are VCs looking for in an investment?

Presenter: Scott Burns, Investor and Entrepreneur 

Among the topics Scott will address are:

• Criteria for investment
• Why some VCs require revenue traction and others seem more willing to get into investments early --- for example, if the team and vision are compelling
• The impact / importance of the entrepreneur's pitch
• What an entrepreneur should have prepared when approaching investors
• When to look for angel investors vs. VCs

Rick and Scott will also combine forces to touch on:

- Elements of a good pitch

- Valuation: When does it matter and what happens if it's out of line? Realistic expectations.

- Management: jockey vs. horse

- Appealing elements of a founder and team

- The importance of being self aware and coachable

- Talent: How to build to team

- Raising money: various ways and options

- Influence of market dynamics

- Product/tech forward or marketing forward?

- Passive vs. active investors

- Having a "priceless" advantage

- Ability to produce with limited resources/creativity

About Scott:

Scott Burns joined Mairs & Power Venture Capital in 2023 as General Partner after nearly 25 years leading venture-stage companies. Since joining, he’s led investments into Lunr Capital, Extempore, and Brevity and also serves as a board member or observer for SiteKick and AkoyaGo.

With a deep-rooted passion for supporting entrepreneurs, Scott brings his own extensive entrepreneurial experience across multiple successful ventures, having founded GovDelivery and Structural.  GovDelivery was one of the first companies to move governments into the cloud and was sold in 2016 to an investment group led by Vista Equity Partners for $153 million. 

Structural was an employee connectivity and engagement platform that raised over $10M in venture capital from regional and national firms before being sold to Augeo, a global leader in enterprise engagement and loyalty, in October 2022.

Scott has been an active investor in startups and growth enterprises since 2010 through more than 20 direct investments including When I Work, Homespotter, Vidgrid, and Branch as well as through investments in a number of venture capital funds.

Scott is a graduate of Dartmouth College with a bachelor’s degree in economics and environmental studies. He started his career at McKinsey & Company in the Chicago / Minneapolis Office. He is committed to the St. Paul and Minneapolis community, sitting on the board of the Star Tribune currently and serving in past board leadership roles with the St. Paul Chamber of Commerce, Friends of the St. Paul Library, and the St. Paul and Minnesota Foundation. In 2021, Scott was appointed by Minnesota Governor Tim Walz to serve on the Council for Economic Expansion.

With special thanks to our sponsors:

Irish Titan

Breakthrough Impact Group

Highland Bank