On this episode of Investor Connect, Hall welcomes Prem Bodagala, Director at Michigan Rise.

Michigan Rise is an early-stage focused venture capital fund investing in high-tech startups across Michigan. The fund is backed by the Michigan Strategic Fund and Michigan State University Foundation and is one of the most active early-stage investors in the Midwest with investments in 34 portfolio companies since its launch in August, 2020.

Michigan Rise Pre-Seed Fund III invests in Michigan tech startups to help commercialize innovative technologies. They are proud to partner with Michigan’s best and brightest tech entrepreneurs and further economic development in the Mitten State.

Prem is in charge of cultivating pipeline, overseeing diligence, closing investments, advising portfolio companies, and fulfilling reporting obligations at the fund to seed tech startups in Michigan with equity instruments and purchase order financing loans. He has a broad and deep knowledge of the innovation ecosystem in the Midwest and has invested in over 100 tech startups that went on to cumulatively raise over $1B. 

Prem began his career in venture capital as an Associate at Michigan Accelerator Fund I in Grand Rapids where he led the sourcing and diligence operations of that first-time fund. He next served as Portfolio Manager at Michigan Economic Development Corporation where he managed a large portfolio of tech startups and venture funds and negotiated complex forbearance, restructure, and conversion terms with public and private stakeholders.  Most recently, Prem was Director at Invest Michigan where he sourced, led investments, and was an observer in select portfolio companies. 

Prem discusses his investment thesis, advises startups and investors, and shares some of the challenges they face. 

You can visit Michigan Rise at www.michiganrise.com/, and via LinkedIn at www.linkedin.com/company/michigan-rise/.  

Prem can be contacted via email at pbodagala@redcedarventures.com, and via LinkedIn at www.linkedin.com/in/prembodagala/. 

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For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  

Check out our other podcasts here: https://investorconnect.org/ 
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Metrics by Stage of Startup

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Startups move through stages from pre-seed to seed to growth to scale.

The metrics you apply should adjust to the stage of the company.

Here’s a list of metrics by stage:

Pre-seed - when you have an idea, use qualitative metrics and focus on basic activity.

Key metrics include qualitative feedback, website traffic, and conversions.

Seed - when you have a first product, focus on initial revenue.

Key metrics include MRR (monthly recurring revenue), ARR (annual recurring revenue), as well as CAC (customer acquisition cost), and LTV (lifetime value ratio).

Cash flow and burn rate are also useful.

Growth - when you have product-market fit and start to grow, then focus on growth revenue.

Key metrics include gross margin, segment analysis, forecast sales vs. quota, and month-over-month revenue growth. 

Scale - when you start scaling the business, focus on the core drivers of the business.

Key metrics include customer activation by channel or segment, increasing retention, and reducing churn. 

The metrics start qualitative and shift to quantitative to focus the company on what drives growth.

As the company matures, so the metrics become more specific and refined.


Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.
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For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
For eGuides check out: https://tencapital.group/education/ 
For upcoming Events, check out https://tencapital.group/events/ 

For Feedback please contact info@tencapital.group  

Please follow, share, and leave a review.

Music courtesy of Bensound.