GET AN INTRO. ALWAYS!
Elevator Pitch. Demo. Deck
Less Features. More Focus
What is the goal of the 1st meeting?
Plan 1 year ahead
Add a 30% buffer
Fundraising will take 6-12 months
Is bigger always better?
Pre-money and Post-money
It‟s an art. Try to turn it into a dog race
Stock option pool (10-20%)
Convertible debts (20% discount, caps)
How much do investors expect to make?
Don‟t waste much time negotiating
Seedsummit standard terms
Get to an “Yes” before you talk terms
People give to people. Not to ideas,
companies or strategies.
Fundraising is not about money. Money is
the means to an end.
Honesty is the best policy.
The mountain and Mohammed.
Ask for money and you will get advice.
Ask for advice and you will get money.
Raise money when you don‟t need it.
Investors‟ herd mentality is notorious.
Friend-making comes before fundraising.
Be „15 minutes ahead‟.
Know your audience.
Know whom to ask, how much to ask for,
Successful fundraising involves storytelling
(with passion). Practice a lot
Watch Shark Tank.
Keep us in the loop
Use the network
Build a board
Didn‟t research the competition
The better mousetrap
Painkillers versus vitamins
The more features fallacy
Things take longer than you expect
Didn‟t take the money
Chasing investors instead of befriending
Trying to win over everyone
Fundraising is not (exactly) selling. Don‟t
Fundraising is hard
Listen to investors
Time is flying. Speed up
Traction > Execution > Ideas