Met with a family office LP today and he asked about my ‘breakout’ companies from our 2022 pre-seed fund. I told him: We don’t have any breakouts, our job is to help keep these companies alive until they find P/M fit.
The LP seemed shocked.
Think he writes me a check? 🤷🏼♀️
Funny when people think I work in finance 🤷🏼♀️ Being an early stage VC is much more like being a shrink, football coach or chef than being a finance bro.
The fall fundraising season has officially kicked off. In my opinion, this is the best 10 weeks of the year for startups to raise capital. Investors are fresh from the summer and many are now behind on deployment pace. Founder friends, run at it hard and get the 💰💰💰
If you can’t get an early stage investor over the line in a reasonable amount of time, stop trying. Instead, fill the top of the funnel with more qualified investors. There are soo many of them out there. Dig around to find even more!
Here's my 3rd (last minute) update for buildspace’s nights & weekends👇
Super exciting news- we got a verbal commitment to be our 4th partner institution for @MeetYourClass. I've been using these 6 weeks to really master b2b sales.
I've attached a one-pager I worked on this week in the thread, I'd love some feedback🫶
cc: @FarzaTV@_nightsweekends@_buildspace
When I was just starting out in venture, a very experienced VC gave me the this advice:
"Our best investments are the ones that don't squarely fit our model. They're too high priced, or low ownership, or off thesis, or maybe the founder doesn't reference well. The fact that we were willing to break our rules to invest was a signal that it was a special company. We put rules in place not to follow them, but to know when something is an extreme outlier"
I think about that all the time.