The LFA fund follows three main phases:
The calendar below represents these three phases over time, from the start-up of the fund with the formation of the team of entrepreneurs to its liquidation, i.e. the sale of the startups individually.
The graph is divided vertically into 4 sections. From left to right:
- Time: indicated in months from the date t0 of the fund’s formation until the tf date of the start of its liquidation.
- Phases of the project: the 3 phases are represented vertically in frames with blue background: 9 months of priming, 9 months of marketing and 18 months of acceleration.
- Milestones: important steps in the project representing progress. The milestones between two phases are shown in bold characters.
- Fundraising calendar: 4 fundraisers are represented:
- F-F: Friends – Family is friends and family, indicating a raise with relatives of the founders in the form of donations, loans or convertible loans. This phase includes crowdfunding as well as grants and institutional loans including the French Tech scholarship.
- Angels: turn of the table of business angels for a start-up phase (seed) in the form of convertible loans.
- Series A: Series A raising from institutional investors and venture capital after an initial valuation of the fund.
- Liquidation: disposal of assets, i.e. individual startups before liquidation of the fund.