Quake Accelerator Due Diligence
Welcome to Quake's Due Diligence form! If you are here, it is because you intrigued us with your company and we would like to know more about your business. First, let us share some basic information about Quake and its accelerator program.
= What does a typical Quake investment look like?
- At Quake, we usually use the SAFE agreement as a model for our deal documentation.
- Typically, Quake invests $150K in each company with a valuation cap of $1M - 3.75M(which means 4% - 10% equity exchange).
- To maintain the operations of the accelerator program, Quake takes a claw back of 20% (i.e., $30K) of the investment.
- The investment will be a series of 3 SAFE notes, with each tranche being $55K, $35K, and $60K, respectively:
- The 1st tranche is paid a week prior to the program.
- The 2nd tranche is paid in the 6th week, after your company pays back the 20% program tuition.
- The 3rd tranche is paid a week after the end of the accelerator program.
= What is Quake's accelerator program like?
- Quake accepts no more than 15 companies into each cohort.
- The accelerator program lasts 12 weeks.
- During the 12 weeks, at least one founder is required to be physically present at the accelerator, in either NYC, Austin or LA, and work alongside the Quake team. You will be working together with other dedicated founders from the cohort.
- We are founder-friendly at Quake, and our goal is to help you succeed and grow your company in the long run. Therefore, we keep our required programming to a minimum. There are only four mandatory events each week, most of them during off hours.
- During the accelerator program, the Quake team will work closely with your company as if we are part of your team. In the past, the Quake team has helped cohort members with sales, marketing, manufacturing, distribution, design, hiring/firing, and building their networks in NYC, LA, Austin, and Seattle.
= How is Quake different?
- At Quake, we focus heavily on helping you get ready to raise follow-on capital, preparing you to pitch to investors as early as Week 2 of the program.
- In our past cohorts, we have achieved 75% funding fulfillment for our portfolio companies prior to Demo Day.
= What is the process?
Quake will make the decision of whether you would have an interview after we review this file, if you make it, there will be 2 round interview, the 1st one will be 15 minutes phone call and the 2nd one will be 30 minutes video call. If you made to the final step, which is term discussion round, you will have a call with us to discuss the contract terms. Please be aware that the calls may be recorded for quality purpose.
For more information, visit Our Homepage; if you have additional questions contact us at Haonan@Quake.vc.
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