TechCrunch+ Summary: South Korean Investor Survey, 1-Hour Board Meetings, Venture Leasing Basics

After the sale, software startup TigerEye closed its Series A and formed a board of directors, its co-founders notified them.

One thing we’d like to never do is a three-hour, too-in-the-weeds, non-strategic board meeting.

“Every board I’ve made and seen is over 80 pages,” says Tracy Young, co-founder and CEO of TigerEye. “I’m not exaggerating.”

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In this TC+ article, he explains how to organize a one-hour board meeting that creates real value for founders and investors. Step one. replace your massive deck with a three-page memo.

We’re taking Monday, May 29th off to celebrate Memorial Day, so I’ll be back a week from today with another TC+ recap.

Have a fantastic weekend!

Walter Thompson
Editor-in-Chief of TechCrunch+
@your protagonist:

Why aren’t venture capitalists flocking to fund cybersecurity startups?

Image of web browser with LCD screen in shallow focus with light shining through https lock.

Image credits: Robert Ax (opens in new window) / Getty Images

The accelerated digital transition has been great for mature cybersecurity companies. Palo Alto Networks, Scaler and CrowdStrike show strong revenue multiples, reports Alex Wilhelm.

But there doesn’t seem to be a halo effect for venture-backed startups in cybersecurity. According to Crunchbase, funding for companies in this industry fell by 58% in Q1 2023 compared to Q1 2022.

“Given that valuations are generally falling, today’s cybersecurity stock prices have fallen sharply, even as they remain more expensive than other tech subcategories,” writes Alex.

Profitability versus growth. 5 investors explain their mantra for South Korean startups

Image credits: Bryce Durbin / TechCrunch

South Korea has seen a unicorn boom in recent years, but like the rest of the world, it is feeling the effects of a global market correction.

“Venture funding in Asia in Q1 2023 fell 33% from Q4 2023 and 57% from Q1 2022,” reports Keith Park, who surveyed five investors. to get their predictions for 2023 and find out how they advise their portfolio companies. :

  • Han Kim, General Partner, Altos Ventures
  • Tim Chae, Managing Partner, 500 Global
  • JP Lee, Managing Director and Managing Partner, SoftBank Ventures Asia
  • Yeemin Chung, CEO of BRV Capital Management
  • Yunse Lee, Founder and Managing Partner, 541 Ventures

Ask Sophie. What are my options if the company cancels my OPT job offer?

lone figure at the entrance to the maze fence with an American flag in the center

Image credits: Bryce Durbin/TechCrunch

Dear Sophie,

I am an international student graduating this month, but the company where I was supposed to start working on OPT has canceled my job offer.

What are my options?

– Grappling Grad

3 things enterprises must do to secure their applications in the age of AI

pink umbrella in rain shower, conceptual photo

Image credits: Henrik Sorensen (opens in new window) / Getty Images

Companies with AI-enabled applications give bad actors a wider attack surface when it comes to phishing, bots and other attempts to access customer accounts.

“We’re already seeing examples of sites reverse-engineering AI to get free AI calculations,” said Reid McGinley-Stempel, co-founder and CEO of Stych, a customer identity and access management (CIAM) platform.

Venture leasing. the unsung hero of hardware startups struggling to raise capital

Puzzles with the word

Image credits: bagi1998 (opens in new window) / Getty Images

Hardware startups have always been challenged when it comes to high initial capital costs and open-ended research and development timelines.

Fortunately, venture capital leasing creates a “happy medium between expensive debt loans and VC funding that works particularly well,” says Felipe Chavez Cortes, CEO of robotic food delivery company and co-founder of Kiwibot.

To bring products to market faster while avoiding dilution, his company entered into a $10 million venture leasing deal.

“Hardware companies shouldn’t feel limited by VC funds to fund their high-risk, high-growth operations,” according to Cortes.

Pitch Deck Teardown. Faye’s $10M Series A Deck

Image credits: Faye

Insurtech startup Faye has shared a redesigned version of the 19-slide deck its founders used for their $10 million Series A round.

“Let’s get this straight off the bat,” says Haje Jan Kamps. “This is a really great pitch.”

  • Cover slide
  • Summary slide
  • Team slide
  • Problem slide
  • Market size slide
  • Insurance market overview slide
  • Product overview slide
  • Product features slide 1
  • Product features slide 2
  • Product features slide 3
  • Product features slide 4
  • Go to market slide
  • Financial growth indicators are slipping
  • Customer growth rates are slipping
  • Client Validation Slide 1
  • Competitive landscape slide
  • Ask for the slide
  • Client Validation Slide 2
  • Closing slide with mission statement

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