she came to us after 9 months of trying to raise on her own
$600k in verbal commitments that never converted, two term sheets that fell apart, one investor who said yes and went silent for 6 weeks.
she was exhausted, her COO had started job hunting,
she was having conversations with acquirers she didn't didn't actually want to talk to just to have options.
first thing I did: company structure review found three things that would have killed due diligence.
ip assignment agreements was missing from two early employees,
one advisor had 0.5% equity with no vesting cliff.
one old SAFE note had ambiguous conversion terms.
none of these were her fault, she'd been moving fast and hadn't had the right legal support when she was issuing these instrument.
all three fixed inside the first week
then we matched her to three investors from our pre committed capital pool
who were actively looking for exactly her stage and sector
not 200 emails, but 3 targets with a check.
three target conversations
$2.1M closed in 28 days
the part that matters, she told me afterwards that the 9 months of failing wasn't because her company wasn't good enough
it was because she had three structural landmines
and no map to the right capital.
Both are fixable
Hit me up with a message that says
'Hey, I need to close in 30 days'
and let's see what we're working with.
VCs are not looking for good companies.
They are looking for companies that can return a fund.
Those are not the same thing. And most founders never find out the difference until month nine.
top-tier VC involvement at seed shows no meaningful performance advantage.
3,717 deals analyzed. roughly 50% markup rate with top VCs. roughly 50% without.
at seed, what VCs are doing is not measurably different from what angels are doing.
your valuation doesn't predict your outcome.
the data across +6,000 seed rounds within the last 6 years indicates:
that 10x winners showed zero concentration in any valuation bucket, cheap deals, expensive deals.
it didn't matter.
the decision to invest matters. the price doesn't!