Running Remote 2019
A remote friendly Venture Capital Panel in Bali, Indonesia
Guest blog post by: Egor Borushko/Co-founder
At appear.in we believe that people can grow successful companies and live meaningful lives anywhere. We partner up with companies that are on the mission to build strong remote work ecosystem. Running Remote organize the worlds largest Remote Work Conference and we are proud to partner with them.
Running Remote, the largest remote work conference across the globe, is proud to be hosting the world’s first remote friendly venture capital (VC) panel at Running Remote 2019 in Bali, Indonesia on 29–30 June.
About the panel
The remote friendly VC panel will take place during the conference. Then panel will be moderated by one of the pioneers in the internet startup scene and the Founder of Mixergy, Andrew Warner. Leaders in the remote work field, including Nick Francis (Help Scout), Andreas Klinger (AngelList), and Marcie Murray (Shopify) will also be speaking. The following panelists have already been confirmed:
- Marvin Liao: Partner of 500 Startups, a global Seed Venture Capital Firm and Startup Accelerator based in Silicon Valley
- Andrew Warner: Founder of Mixergy, where proven Entrepreneurs come together to teach how they built their startups.
- Anthony Pompliano: Co-Founder and Partner at Morgan Creek Digital, a leading asset manager investing capital on behalf of institutional investors across the Bitcoin and crypto ecosystem.
Details of the remaining two panelists will be made available soon, but you can be sure they will be worth waiting for.
Breaking new ground in the remote world
The remote friendly VC panel is yet another indication that remote working and decentralized companies are becoming more widely accepted amongst VC firms.
While tech startups were initially Silicon Valley focused, VC investors are beginning to look outside Silicon Valley for opportunities, and are beginning to see that decentralized companies have significant benefits. One of the main benefits being that you can build a profitable team for a fraction of the setup cost while working remotely. On top of that, allowing for remote work opens a company up to a wider pool of talent. Cost of living in areas like Silicon Valley have increased to a point where some high performing staff have been forced to disperse across the globe, so startups and venture capital firms are following suit.
What prompted the change?
Recently there have been some great examples of successful companies that are completely remote, including companies like WooThemes. Their former founder Adii Pienaar will also be presenting at Running Remote! This has given VC firms confidence in up and coming startups with remote offerings.
Additionally, many of the the initial barriers related to remote work have been addressed by new tools and strategies. Looking at programs like Workplaceless, or the prevalence of tools like Slack, Trello, or Jira; it’s easy to see that it’s possible to run a remote company well.
With these perceived barriers smashed, the good things about remote work start to shine through like:
- The lower costs base to run a remote team
- Access to a larger talent pool
- Being able to hire experienced staff who can jump straight into a project without training
Venture capitalists and investors are seeing the benefits of having a happy and productive remote team. While not all VC investors are on board and looking to invest in remote startups to allow them to grow and scale, increasingly more are looking at remote companies to see if it is a “match”.
How can companies access VC funding?
A remote company needs to ensure it is “pitch ready” and that the potential VC firm is a good match. Many VC firms focus on certain niche areas. For example, both Pioneer Fund and Sequoia have entered the remote funding arena recently.
To ensure it is ready to pitch and close a deal with a VC firm, a startup needs, at a minimum, to:
- Understand the funding process
- Anticipate the deal terms
- Consider any potential funding issues
- Develop a fabulous elevator pitch and an investor pitch deck
The funding process can be extremely time consuming between meetings, due diligence procedures and negotiating and drafting the deal with the respective lawyers of each party. All the while the startup needs to satisfy the VC firm that their talent pool, procedures and business plan are robust and investment ready.
Want to know more?
Come along to Running Remote to take a deeper dive into the fascinating world of remote friendly VC firms.
- Running Remote 2019 is happening in Bali, Indonesia on 29–30 June 2019 at the Sofitel Bali Nusa Dua Beach Resort
- For accommodation, book at the Sofitel Nusa Dua Beach Resort, Lot 5, ITDC Tourism Complex Nusa Dua, Badung Bali
- You can register with the special coupon ‘appearin’ to get 20% discount on your booking