Fundraising

levels. When an investor asks what the price is: ● If it’s your first conversation, reply, “Let’s do a deeper dive together and then if we’re both still excited after that, we can certainly discuss economics.” In general, avoid getting transactional too early. ● If it’s after a deep dive, name a specific price, e.g., “We’re raising at a $XM cap.” ●

the meeting: “First and foremost, thank you for your time. I really enjoyed this conversation. I know it was short, so if you enjoyed it too, let’s set up a deeper dive. I can take you through [our demo, a deeper dive on our product, etc.]. And I’ll come prepared with more questions about you.” Ideally you can even nail down a time at the first mee

benefits, but you can build on the relationship without letting them on your cap table! Revealing too early that you’re fundraising This is another all-too-common

Looking forward to it! The First Meeting (the Intro) The first impression you make on an investor is everything. You better impress the heck out of them. This is best accomplished by being your uncompromising, confident, authentic self. The best way to get to know an investor is through dialogue, not decks

$500k. This makes the space look tighter and creates more of a time constraint for investors to jump at the opportunity. I’ve seen founders do this well beyond the early stages and into growth rounds. Once you have $500k committed, you can say you’re

existed thus far, and why I would be able to pull it off. The most important pitch isn’t a polished one, it’s a casual one. Remember, you’re ideally not going through a deck. You’re setting up casual meet-and-greets with investors. At some point in the conversation, they’ll ask you what you do (that’s their job!). Here, you have to absolutely knock

they meet your cofounder or someone on your team. This builds another touchpoint and deepens your relationship with the investor. It increases their commitment and excitement. It shows that there’s more than just you

an investor get upset that you raised more money than you originally anticipated. They will feel even better that other smart investors are piling into your company! It also derisks their investment because you now have more capital to achieve your goals. I’ve written more on Staggered Valuation Caps below, but early investors should benefit from g

Note: This step should be