Sherpa Partners, LLC is a Minneapolis-based venture capital firm
focused on early-stage technology companies. We have decades of
personal experience in the high-altitude, rarified air of new
enterprises. As experienced operational managers, we are
investing time, energy and money to help emerging technology
companies create the strategies, systems, infrastructure and
management teams to become leaders in their markets.
By modeling through Sherpa’s “Entrepreneurial Blueprint”, the
Sherpa team is dedicated to providing the tactical and strategic
assistance necessary to help its portfolio companies become
market leaders in their respective industries.
Trek I: Launched in January
2001, Trek I is dedicated to early stage, Minnesota-based information
technology companies. This $17 million fund targets first-round
pre-money valuations under $10 Million with initial equity investments
ranging from $250,000 to $1 million. Trek I targets technology
industries such as software, networking, infrastructure and
telecommunications. Sherpa's Trek I fund is now fully invested
and the company is no longer reviewing business plans.
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I. Incubator Stage
A. Market Size and
Opportunity Evaluation
B. Product/Service Viability Analysis
C. Customer Needs/Problem & Solution Explicitly Defined
D. Unique Selling Proposition (USP) Determined
E. Barriers to Entry Determined
F. Preliminary Market Validation
G. Founding Team Assessment
H. Seed Funding Obtained
II. Seed Stage
A. Business Plan Formalized
1. Executive Overview
2. The Company & Management Team
3. Market Analysis – Size of “Targeted” Opportunity
4. Product/Service – Proprietary & Sustainable Advantage
5. Competitive Analysis – Barriers to Entry
6. Operating Plan
7. Sales Strategy
8. Detailed Revenue Projections w/Assumptions
9. “Path to Profitability” Projections
10. Funding Requirements & Use of Funds
11. Exit Strategy
B. Measurable Milestones Defined
C. Corporate Infrastructure Created
D. Staffing Expansion
E. Beta Testing
F. Product Development Finished
G. Initial Sales & Marketing Plan Executed
H. Updated Market Validation
I. Industry Viability Plan Developed
J. Production Ramp-Up
K. First “Institutional” (A) Round Obtained
L. Follow-On Investors Identified
III. Expansion Stage
A. Expand Staff
B. Deploy Full Sales & Marketing Plan
C. Demonstrate Profitable Operating Model
D. Prove Success Against Measurable Milestones
E. Sustain Financing (B & C Rounds, Mezzanine, IPO, etc.)
F. Achieve Investor Liquidity
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