Analysis of ICO Pulsar
Pulsar Venture Capital (Pulsar) is an international early-stage VC fund and startup acceleration program. It focuses on startups in blockchain/cryptocurrency, IT, hardware and advanced materials. Pulsar helps entrepreneurs to identify business needs, target markets and solutions. Fund’s seed investments empower creation of innovative new businesses by coupling initial capital with access to proven company builders. Pulsar seed investments typically range from US$100,000 - $500,000 and early stage investments typically range from US$500,000 - $2,000,000 to help the business achieve its goals and scale.
Pulsar’s focus is on the companies that are need of early stage funding. The fund provides 157% annual return on average to the investors. Pulsar anticipates generating up to 920% return on investment over the life of the fund from our investments and exits from more than 50 portfolio companies. The fund uses “Lean Investor” model: begins with a large number of small investments, provides resources to speed up the process of entering the market, filters out failed startups and increases the amount of investment in the winners through the seed and early stage rounds. Current portfolio consists of 67% of IT startups. The fund also co-invest with some of the world leaders in venture funding in early stages and have access to the deal flow of most innovative companies. The ICO is needed to raise funds to acquire 50% interest in the existing Pulsar portfolio and invest in 30+ early stage startups from Pulsar’s Accelerator Program.
Bounty campaign was held in December 2017. The team is active on social media, the company has rather good press coverage; Telegram needs more subscribers though. Portfolio of startups and partners looks impressive. There is no specific marketing plan.
The team members have strong professional experience in entrepreneurship, creating of companies, VC funds and investing, project management and marketing. The advisors compliment the team with expertise in startup acceleration, consulting, IT and finance/banking.
The Vision of the Market
Since Pulsar is the venture capital fund with an impressive portfolio of startups, the vision and knowledge of the market is obvious. Their main focus is on blockchain/cryptocurrency projects, so they are aware of opportunities and risks within the industry.
Understanding of the Target Audience
The fund’s target audience consists of startups at early stages of development. The industries of interest are: blockchain/cryptocurrency, IT, hardware and advanced materials. The fund provides whole package of services addressing the needs of startups.
There is no competitor analysis and no review of industries which are of interest for the fund.
Strengths: portfolio of startups and partners, very strong team, proved Accelerator Program.
Weaknesses: no roadmap, no marketing strategy, no competitive analysis. The ICO doesn’t look like 100% necessary option.