Scouting is a trend that is gaining momentum in startup communities around the world as VC firms seek to leverage the extensive networks and early-stage intelligence that scouts possess. Leads to potential investments are sourced by increasingly broad referrer networks that are built on trust and strong relationships, from a broad network of advisors and professionals who are looking to enter the venture capital world. Flashpoint expanded its program significantly in 2023, receiving 200+ applications.
Flashpoint initially launched the program in 2021, looking for individuals who are close to tech communities within Flashpoint’s geographical focus. Since its launch, the program has grown to more than 60 Scouts throughout Europe and the US and is expected to reach 100+ Scouts within 2023. Flashpoint has recently streamlined the program reducing correspondence time and increasing transparency within the investment cycle. Scouts can now receive instant notifications when a lead status has changed. The screening process undertaken by scouts remains unchanged, though a new compensation strategy has been introduced to maximise scouts’ income.
Numerous advantages come with being a Scout:
- Provides a unique opportunity to become part of the VC community and expand your network
- Access to Flashpoint’s existing financial, legal and transactional resources
- Receive regular updates on the performance of Flashpoint’s funds and the program, while also tapping into Flashpoint’s broader marketing initiatives
- Receive either a commission per qualified lead or a success fee per transaction closing depending on the situation
Read more about the Venture Scout Program in the articles