Ce diaporama a bien été signalé.
Nous utilisons votre profil LinkedIn et vos données d’activité pour vous proposer des publicités personnalisées et pertinentes. Vous pouvez changer vos préférences de publicités à tout moment.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Fundraising Essentials:
Raising a Seed Round Eff...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Mobile Q&A | Submit Your Questions Online
Open a...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
It’s more than just Venture Capital
Non-VC
• Non...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
How long should fundraising take?
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Experienced seed fundraisers can put a seed
roun...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
The Secret
Generate authentic competition for yo...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
What we’ll cover
1. Establishing ground rules
2....
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Rule #1:
Fundraising will change your relationsh...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
$0 raised, $15M+ ARR
$416M raised, $465M acquisi...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Rule #2:
You’re either in full fundraising
mode ...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Rule #3:
Fundraising should be
one person’s full...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Rule #4:
Be direct and confident,
but not arroga...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Rule #5:
Fundraise in parallel (not in sequence)...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
3:1
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Rule #6:
Don’t try to manufacture Investor urgen...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Rule #7:
Time kills all deals
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Create scarcity by
working backwards from
your i...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Create scarcity by
working backwards from
your i...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Understanding VCs
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Being a successful VC is hard
$10M
Fund size
33
...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Being a successful VC is hard
10
Startups fail
1...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
The Seed VC Rule of Thumb:
Every investment need...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Seed VCs will want you to
keep climbing the VC p...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
“Venture capital is not even a
home run business...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Understanding Angel Investors
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Angel Investors have more
diverse motivations
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Angel Investors have a lower
bar for a “good” ou...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Angel Investors may be
more passively involved
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Round composition takeaways
• Understand how the...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
What is a fundraising narrative?
A concise expla...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
A good narrative can do the
following in 20 seco...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
A good narrative can do the
following in 20 seco...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
A good narrative can do the
following in 20 seco...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
1. Simply explain what you do
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Bad example
“We provide data and analytics in a
...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
“We’re an analytics tool for
podcasters”
Good ex...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
2. Communicate the single thing
that’s most comp...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Good example
“We’re an analytics tool for podcas...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
3. Use milestones of de-risking the business to ...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Bad Example
“We have 20 customers and we’re rais...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Good example
“We have 20 independent podcasters ...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Support your narrative
with a financial model
Go...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Fundraising narrative takeaways
• Keep it simple...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Create scarcity by
working backwards from
your i...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Work backwards from the 3:1 rule
Lead VC: $800k
...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Work backwards from the 3:1 rule
Lead VC’s
(3)
F...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Work backwards from the 3:1 rule
Lead VC’s
(10)
...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Work backwards from the 3:1 rule
Lead VC’s
(20)
...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
People > Firms
• Fundraising is about relationsh...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Prospecting Tactic #1: Research
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Prospecting Tactic #2:
Other Founders
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Prospecting Tactic #3:
VC Associates
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Prospecting takeaways
• 20 prospects for every s...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
1. Build relationships before
turning on fundrai...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
2. Make sure you have your materials
• Teaser de...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
3. Quietly close at least one investor,
then tur...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
4. Keep filling the top of the funnel
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Goals for the first meeting
1. Discover if there...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
First Meeting Rule #1:
Meet in person
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
First Meeting Rule #2:
Ask questions before you
...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
First Meeting Rule #3:
Don’t discuss valuation
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
First Meeting Rule #4:
Keep it conversational
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Questions you should ask in the first meeting
• ...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Typical VC Process
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
“No” is better than “maybe”
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Summary
• You’re giving up scarce equity in your...
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Experienced seed fundraisers can put a seed
roun...
Thank you!
© 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
Mike Wilner
@mwil20
Prochain SlideShare
Chargement dans…5
×

AWS Startup Day Bogotá - Fundraising Essentials: Raising a Seed Round Efficiently

63 vues

Publié le

AWS Startup Day Bogotá - Fundraising Essentials: Raising a Seed Round Efficiently

Publié dans : Technologie
  • DOWNLOAD THI5 BOOKS INTO AVAILABLE FORMAT (Unlimited) ......................................................................................................................... ......................................................................................................................... Download Full PDF EBOOK here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download Full EPUB Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... ACCESS WEBSITE for All Ebooks ......................................................................................................................... Download Full PDF EBOOK here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download EPUB Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... Download doc Ebook here { http://bit.ly/2m6jJ5M } ......................................................................................................................... ......................................................................................................................... ......................................................................................................................... .............. Browse by Genre Available eBooks ......................................................................................................................... Art, Biography, Business, Chick Lit, Children's, Christian, Classics, Comics, Contemporary, Cookbooks, Crime, Ebooks, Fantasy, Fiction, Graphic Novels, Historical Fiction, History, Horror, Humor And Comedy, Manga, Memoir, Music, Mystery, Non Fiction, Paranormal, Philosophy, Poetry, Psychology, Religion, Romance, Science, Science Fiction, Self Help, Suspense, Spirituality, Sports, Thriller, Travel, Young Adult,
       Répondre 
    Voulez-vous vraiment ?  Oui  Non
    Votre message apparaîtra ici
  • Soyez le premier à aimer ceci

AWS Startup Day Bogotá - Fundraising Essentials: Raising a Seed Round Efficiently

  1. 1. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Fundraising Essentials: Raising a Seed Round Efficiently Francisco Ruiz Amazon Web Services Edwin Pardo Data wifi
  2. 2. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Mobile Q&A | Submit Your Questions Online Open a browser on any laptop, tablet, or smartphone Go to slido.com Enter the event code: STARTUP Don’t have a question? View the submitted questions and upvote your favorites.
  3. 3. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  4. 4. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. It’s more than just Venture Capital Non-VC • Non-dilutive grants • Friends and Family • Angels • Angel Funds and Groups • Accelerators • Crowdfunding VC • Pre-seed VCs • Seed VCs • Multi-stage VCs • Corporate VCs
  5. 5. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. How long should fundraising take?
  6. 6. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Experienced seed fundraisers can put a seed round together in as quickly as a month
  7. 7. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. The Secret Generate authentic competition for your round, giving investors FOMO (fear of missing out) and a sense of urgency
  8. 8. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. What we’ll cover 1. Establishing ground rules 2. Drafting your round composition 3. Crafting your fundraising narrative 4. Prospecting your initial funnel 5. Initiating fundraising mode and stacking meetings 6. Pitching and closing
  9. 9. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  10. 10. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Rule #1: Fundraising will change your relationship with your business and the range of acceptable outcomes
  11. 11. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. $0 raised, $15M+ ARR $416M raised, $465M acquisition
  12. 12. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Rule #2: You’re either in full fundraising mode or you’re not fundraising
  13. 13. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Rule #3: Fundraising should be one person’s full-time job
  14. 14. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Rule #4: Be direct and confident, but not arrogant
  15. 15. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  16. 16. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Rule #5: Fundraise in parallel (not in sequence) and put yourself in a position to say “no”
  17. 17. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. 3:1
  18. 18. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Rule #6: Don’t try to manufacture Investor urgency with made up close dates
  19. 19. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Rule #7: Time kills all deals
  20. 20. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  21. 21. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Create scarcity by working backwards from your ideal cap table
  22. 22. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Create scarcity by working backwards from your ideal cap table $2M Seed round 1 Lead VC: $800k 2 Follow VCs: $600K 5 Angels: $600K
  23. 23. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Understanding VCs
  24. 24. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Being a successful VC is hard $10M Fund size 33 # of investments
  25. 25. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Being a successful VC is hard 10 Startups fail 11 Get 1x 6 Generate 3x returns 3 Generate 5x returns 2 Generate 20x returns 1 Generate 50x returns
  26. 26. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. The Seed VC Rule of Thumb: Every investment needs to have the potential to return the entire fund (~50x)
  27. 27. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Seed VCs will want you to keep climbing the VC path
  28. 28. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. “Venture capital is not even a home run business. It’s a grand slam business.” – Bill Gurley
  29. 29. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Understanding Angel Investors
  30. 30. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Angel Investors have more diverse motivations
  31. 31. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Angel Investors have a lower bar for a “good” outcome
  32. 32. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Angel Investors may be more passively involved
  33. 33. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  34. 34. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Round composition takeaways • Understand how the investor’s business works • Make sure your goals are aligned with investors’ • Be deliberate about the types of investors you want in your round • Draft your round composition before you start talking to investors
  35. 35. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  36. 36. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. What is a fundraising narrative? A concise explanation of what you do, what’s most compelling about your business, why you’re raising money, and your long-term vision.
  37. 37. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. A good narrative can do the following in 20 seconds
  38. 38. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. A good narrative can do the following in 20 seconds First 10 seconds 1. Simply explain what you do 2. Communicate the single thing that’s most compelling
  39. 39. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. A good narrative can do the following in 20 seconds First 10 seconds 1. Simply explain what you do 2. Communicate the single thing that’s most compelling Second 10 seconds 3. Outline your progress-to-date, future milestones, and long-term vision
  40. 40. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. 1. Simply explain what you do
  41. 41. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Bad example “We provide data and analytics in a comprehensive project management suite, enabling audio content creators to glean insights that inform decisions throughout the production cycle.”
  42. 42. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. “We’re an analytics tool for podcasters” Good example
  43. 43. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. 2. Communicate the single thing that’s most compelling What is the one reason that an investor should invest? (Choose one) • Traction • Team • Market size/trends
  44. 44. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Good example “We’re an analytics tool for podcasters, and we’re a team of former podcast producers who produced 5 of the 20 most downloaded podcasts of all time.”
  45. 45. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. 3. Use milestones of de-risking the business to outline your progress and future plans 1. Progress to date 2. Next milestone 3. The future
  46. 46. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Bad Example “We have 20 customers and we’re raising $2M to continue building out our product and hire a sales team.”
  47. 47. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Good example “We have 20 independent podcasters paying for our product and loving it. Now, we’re raising $2M to find a repeatable customer acquisition strategy so we start dominating the independent podcaster market. Once we do that, we can go upmarket to podcast studios which will give us the most advanced podcast dataset in the world.”
  48. 48. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Support your narrative with a financial model Goal #1: Verify the story you’re telling Goal #2: Show the assumptions you’re making
  49. 49. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Fundraising narrative takeaways • Keep it simple and concise • Frame progress and future milestones in terms of de-risking • Back up your narrative with math
  50. 50. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  51. 51. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Create scarcity by working backwards from your ideal cap table $2M Seed round 1 Lead VC: $800k 2 Follow VCs: $600K 5 Angels: $600K
  52. 52. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Work backwards from the 3:1 rule Lead VC: $800k Follow VC #1: $300k Follow VC #2: $300k Angel #1: $100k Angel #2: $100k Angel #3: $100k Angel #4: $100k Angel #5: $100k Cap table
  53. 53. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Work backwards from the 3:1 rule Lead VC’s (3) Follow VC’s (6) Angels (15) Lead VC: $800k Follow VC #1: $300k Follow VC #2: $300k Angel #1: $100k Angel #2: $100k Angel #3: $100k Angel #4: $100k Angel #5: $100k Cap tableFinal Diligence (3:1) Closed (1:1)
  54. 54. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Work backwards from the 3:1 rule Lead VC’s (10) Follow VC’s (20) Angels (50) Lead VC: $800k Follow VC #1: $300k Follow VC #2: $300k Angel #1: $100k Angel #2: $100k Angel #3: $100k Angel #4: $100k Angel #5: $100k Cap tableInitial Meeting (10:1) Final Diligence (3:1) Closed (1:1)
  55. 55. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Work backwards from the 3:1 rule Lead VC’s (20) Follow VC’s (40) Angels (100) Lead VC: $800k Follow VC #1: $300k Follow VC #2: $300k Angel #1: $100k Angel #2: $100k Angel #3: $100k Angel #4: $100k Angel #5: $100k Cap tableProspect (20:1) Initial Meeting (10:1) Final Diligence (3:1) Closed (1:1)
  56. 56. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. People > Firms • Fundraising is about relationships • Focusing on people is more effective than firm-hunting • People have different investment autonomy and investment focuses
  57. 57. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Prospecting Tactic #1: Research
  58. 58. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Prospecting Tactic #2: Other Founders
  59. 59. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Prospecting Tactic #3: VC Associates
  60. 60. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Prospecting takeaways • 20 prospects for every spot available • Focus your prospecting on people – not just firms • Get prospects through research and relationships
  61. 61. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  62. 62. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. 1. Build relationships before turning on fundraising mode
  63. 63. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. 2. Make sure you have your materials • Teaser deck • Full Presentation deck and Readable deck • Supporting financial model • Safe/Convertible note
  64. 64. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. 3. Quietly close at least one investor, then turn on fundraising mode
  65. 65. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. 4. Keep filling the top of the funnel
  66. 66. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved.
  67. 67. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Goals for the first meeting 1. Discover if there’s goal alignment 2. Learn about their decision-making process 3. Get them excited about the opportunity
  68. 68. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. First Meeting Rule #1: Meet in person
  69. 69. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. First Meeting Rule #2: Ask questions before you start pitching
  70. 70. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. First Meeting Rule #3: Don’t discuss valuation
  71. 71. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. First Meeting Rule #4: Keep it conversational
  72. 72. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Questions you should ask in the first meeting • What is a good outcome for you? • What is your typical check size and/or ownership target? • What is your investment process?
  73. 73. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Typical VC Process
  74. 74. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. “No” is better than “maybe”
  75. 75. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Summary • You’re giving up scarce equity in your company, not asking for money • Create a sense of urgency by cultivating authentic competition • Startup <> Investor fit goes both ways • Put yourself in a position where you’ll have to say “no” to investors • This is a full-time process that should be done as quickly as possible • Remember the 3:1 rule • Every interaction can be net positive for your business and career
  76. 76. © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Experienced seed fundraisers can put a seed round together in as quickly as a month
  77. 77. Thank you! © 2019, Amazon Web Services, Inc. or its affiliates. All rights reserved. Mike Wilner @mwil20

×