Fundraising Etiquette: A Guide for Founders - Part 1, Preparation
Summary
Some startups might optimize for valuation when choosing their VC, while others seek particular industry expertise, reputation or other kinds of support like recruiting or debt access from their investor. Also, define a rough timeline during which you want to have first calls, provide data room access, facilitate deep due diligence, aim to receive first term sheets and finalize the fundraise. A good story typically covers: the team’s strength, major milestones and achievements, and a grand vision with a clear roadmap to success. To be efficient, consider working with a freelancer or design agency to make the pitch deck look appealing – but monitor this process closely! The data room should include at least the following documents: And, if applicable, you can also add: If you have done all of the above, you should be ready to kick off the actual fundraising!