Announcing our $60M Series A. 🎉
Humbled that 1,000+ of you have trusted us with your business. This round will make sure we're here to help for ~many~ years to come.
https://t.co/XEFEl21eVy
🧵1/ Hey Founders, Fundraising right now is harder than usual, so let's talk about it.
This will be the first thread in a series on fundraising in this climate.
continue below👇🏾for today's topic - Bridge rounds!
1/ If you pitch your company to @RarebreedVC, there's a chance I MIGHT end up being your first call before a second call with our GPs @MacConwell and @krollja.
If you've listened to or watched any of @MacConwell's interviews, you've probably heard him say the following:
🧵
Yesterday, I was at the White House with the Vice President for a convening on young Black men in entrepreneurship. Today, I'm at a convening of Black VC in VA getting to speak with @SenBooker. But don't get it twisted, I helped 4 portfolio founders and made some intros today.
This still feels surreal! 😱
I am humbled and beyond thrilled to be named a Young Advisor to Watch by @FAmagazine !
I am excited to continue using my platform to advocate for underrepresented advisors and support our current and future clients @networthzenith !!
Actions to take to change your life:
1. Lean dramatically into positivity
2. Audit your life. Cut out people/things that trigger your insecurities and focus on people/things that fill you with love
3. Consume messages that align with you. Pay attention. Find what works for you
I decided to turn my thread into a medium article
I just published How Desperation Drove Me to Use Twitter to take 1,128 Meetings to Raise the First $3M of RareBreed… https://t.co/hiXdE3znLK
💡 VC is a lifelong apprenticeship and I'm thankful I've started my learning journey under the teachings of @MacConwell and @krollja.
Two key takeaways thus far:
- Investing requires equal parts logic and intuition
- While books give you the basics, most is learned on the job
What a weekend!
But also, what a community!
So many from across the industry came together to support each other.
I'm hugely inspired by our founders resilience and strength during this ordeal 💪🏽
Old News: for every 9 failed startups, there's 1 winner
Based on a survey by Fortune, 42% of failed startups indicated the lack of a market need for their product as the biggest reason for their collapse.
So what can you do to ensure product-market fit before going all in?
A shy theater kid w/ big dreams, Lea's determined to make a name for herself at Thornfield Theater… if she could stop thinking about Alex, its mercurial director. When she discovers secrets behind the scenes, Lea must choose between her hopes & her conscience. #IWSGPit#A#R#CO
🗣 Junior & Future VCs: define and draft your investment thesis now.
Junior VCs: you'll source deals for your fund, BUT one day you'll independently write checks into companies you care about.
Future VCs: having a thesis helps with recruiting.
We're excited to have earned a spot as one of @BuiltIn's 100 Best Hybrid Places to Work! 💚 A big thanks to our outstanding team and congratulations to all the other organizations listed here!
https://t.co/whOfoKMV3U
My birthday gift to myself this year is investing an additional $50K in @AjimCapital on top of my GP commitment. That’s how much I believe in the next generation of African founders. #InvestinAfrica
If you’re a building something solo, find ways to get feedback from your audience/users or mentors/friends ASAP… even on the name of your company/project.
If the name of your company doesn’t resonate, it could hinder your rate of adoption. Try to get it right from the jump.