GP

GP

What is a GP?

General Partners (GP’s) at venture capital firms are the management teams.

At Hoxton Ventures, the GPs are Rob Kniaz and Hussein Kanji.

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Hypergrowth

Hypergrowth

What is hypergrowth?

Achieving hypergrowth means maintaining a 40%+ average annual growth rate for more than one year.

Slack experienced hypergrowth as it went from $0 to a $4 billion valuation in less than four years.

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Growth Hacking

Growth Hacking

What is growth hacking?

Growth hacking (also known as growth marketing) is the use of cost-effective digital marketing tactics to help grow and retain an active user base.

Hotmail were popular for writing “Get your free email at Hotmail” with a link to the sign-up page automatically added to users’ signatures.

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Anti-Dilution Protection

Anti-Dilution Protection

What is anti-dilution protection?

Anti-dilution provisions protect previous investors from dilution in down rounds (so that their equity holds its value).

With a full ratchet anti-dilution provision, if the original preferred stock conversion price was £10 and in a later round the conversion price is £5, the investor’s original conversion price would adjust to £5.

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ASA

ASA

What is an ASA?

Advanced Subscription Agreements (ASA) allows investors to pay in advance for shares that will be allocated at a later date, similar to a SAFE note in the US.

The pensions and financial wellbeing startup, Maji used an ASA to raise from investors which ended in November 2020 when shares were allocated to investors.

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GMV

GMV

What is GMV?

Gross Merchandise Value (GMV) is the total value of merchandise sold over a given period of time on e-commerce websites.

In 2019, Amazon’s annual GMV was $239 billion.

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Zebra

Zebra

What is a zebra?

Startups focused on solving a societal or environmental need whilst growing profitably.

Zebras Unite calls for a more ethical and inclusive movement to counter existing startup and venture capital culture. They coined the term and run a community of zebra startups.

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Working Capital

Working Capital

What is working capital?

The operating liquidity available to a startup to cover its short term day to day expenses.

The working capital of £150,000 with a food delivery startup which is calculated by subtracting current liabilities of £150,000 from the current assets of £300,000.

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Wireframe

Wireframe

What is a wireframe?

A layout of a web or mobile page that demonstrates what interface elements will exist on key pages.

Wireframes are used to create sketches to test the usability of an app or website. Balsamiq is one of many tools that can be used to create one.

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Venture Capitalist

Venture Capitalist

What is a venture capitalist?

A Venture Capitalist (VC) is an individual that works at a financial services firm that invests its money into early stage companies.

A VC raises money from wealthy institutions called Limited Partners (LPs), whilst the VC is managed by General Partners (GPs).

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