The Entrepreneurial Funding Continuum 3 SEED/START-UP FUNDING SEED/START-UP FUNDING DEVELOPMENT FUNDING DEVELOPMENT FUNDING EXPANSION FUNDING EXPANSION FUNDING OPPORTUNITY DEVELOPMENT OPPORTUNITY DEVELOPMENT CONTINUED GROWTH CONTINUED GROWTH ANGELS, FOUNDERS & SEED FUNDS VENTURE CAPITAL – GROWTH EQUITY PE - PUBLIC MARKETS VALUATIONS INCREASE BUSINESS RISKS DECREASE MENTORING NEEDS DECREASE $5M-20M$500K-5M $50K-500K >$20MSweat 3