Fundraising Cheat Sheet
Literally, the more basic first steps to take when starting your fundraise
01LIST-BUILDING
Get data on over 5000 investors here.
02LIST-NARROWING
Narrow that list down using this investor relations sheet. And use the startup-investor fit index.
03WORKSHOP
Watch these videos and complete the worksheet in the toolkit.
04COLD OUTREACH GUIDE
If you’re emailing/asking someone for help use this guide.
05PITCHING bonus
When they say yes to a meeting, nail the first 42 seconds and send a deck that answers the right questions.
STARTUP-INVESTOR FIT
The definitive index to identify investor-fit for your startup. An 18-point checklist, with three sections to help you find SIF.
You’ve all heard of Product-Market fit (PMF), but I bet you haven’t heard of Startup-Investor Fit. Startup-Investor Fit (SIF) is the degree to which there is a fit between your startup and an investor, who you are seeking funding from. There are an abundance of investors out there, so the goal isn’t to reach out to all of them, but to find the one that suits you the most.
Critical
06The must-haves. Without these things in line, don’t even bother reaching out or trying to convince them to invest.
- Lead vs. followFind out if they lead rounds or follow only. Without a lead, you may struggle to ever get a term sheet.
- Sector / thesisDo they invest in your vertical/industry?
- Check size / startup stageIs there alignment in terms of the check sizes they write?
- Geographic preferenceAre you located in the location they invest?
- ConvictionDo they believe in you and trust your vision?
- Chemistry / connectionDo you get along and enjoy the conversation? Make sure you have shared values as well.
Additional
07The good-to-haves. You wish they had these, but you’re OK if they don’t.
- Fund reputationHas the fund been talked about as founder friendly?
- Dry powderDo they have money to invest right now, or are they raising another fund?
- Previous investmentsHave they invested in a startup at the same stage/industry before?
- Value-addIs there a promised value-add beyond money that you need or will get?
- Community offeringBy receiving funding, is there a community they make you part of?
- Co-investorsDo they co-invest with any other known, local or repeating firms?
- Board seat preferenceDo they want/like to take board seats if they invest?
Optional
05The nice-to-haves. Think about these as bonus points.
- Follow-on strategyAre they going to stick with you for future rounds too?
- Who are the LPsDo you care where the fund got its money from?
- Fund vintageHow long has the fund been around?
- GP commitHave they personally invested their own money into the fund too?
- Fund performanceHow well is the fund performing overall?