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From Idea to Scaleup: Startup Stages

Understanding the milestones at every stage toward success

Campus Life in Miami
Source: — Shout out to Mar Hensherson!
Source: UpFront Ventures, TheVentureCity Analysis.

1st Stage (Pre-Seed): from Idea to MVP

2nd Stage (Seed): from MVP to Product/Market Fit

Example: how to quantify PMF for B2B (bottom-up) — Christoph Janz

3rd Stage (Early-Stage): from PMF to Scaleup

Source: David Skok,

4th Stage (Later-Stage): from Scaleup to Growth Equity

Source: Mattermark, Crunchbase, TheVentureCity
Source: David Skok,



We are founders and operators turned funders. We invest in early stage, mission driven and diverse founders.

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Andy Areitio

General Partner @TheVentureCity. Previous ventures: @BuyFresco, @Suprachef. Education: @INSEAD, ICADE, and a few failures ;-)