How to raise a seed round. Just one process, adjust accordingly. Missing lots of nuance. 👇
1/ Understand your business, its strengths and weaknesses. Look up metrics for similar business models at your stage to get context. Build your own pro forma, review w others.
2/ Build a list of Angels/VCs: dream/top tier, in your network, local, thematically fit. Prioritize A-C. Use LinkedIn to find potential intro paths. Track connectors in fundraising CRM.
2/ Practice your story. Talk to 30-100 ppl (friends, mentors, customers, connectors). Figure out what feels right, resonates. Ask connectors if they’d be willing to make intros (forward an email) when you’re ready.
3/ In parallel to above, build your deck. Write a nararrative, it should read like a story. Tell a big picture. Slide titles first, then content, then design. Get feedback along the way.
4/ Plan for speed if possible to leverage momentum. Clear 50% of your sched, prep your team.
5/ Get intros to all C priority prospects at once, start there because your pitch will get better over time. Set up meetings in a tight timeframe.
6/ If you don’t have a strong network, or even if you do, leverage startup/investor matching tools and don’t hesitate to cold email.
7/ Get intros to all B priority prospects as soon as you’ve set mtngs w C prospects or you get a term sheet/lead.
8/ Get intros to all A priority prospects as soon as you’ve set mtngs w B prospects or you get a term sheet/lead.
9/ Take notes during meetings. Questions, concerns, and especially if they mention metrics they’d like to see now or for future rounds. Ask to add them to an investor update.
10/ Send regular investor updates (maybe once or twice a month) during your fundraise to share traction growth, new customers, product launches and anything exciting.
11/ Along the way, very helpful to have at least 1-2 ppl who you can chat w regularly about how your raise is going, ideally someone w experience.
You can follow @yoheinakajima.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:

By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.