Alex Pattis’ Post

New post - How we got intros for our pre-seed This is easily the number 1 question that folks keep asking from the pod Pablo Srugo dropped on our fundraise. tl;dr 👉 The number on thing first-time founders and outsiders need to understand is that 80% of pre-seed/seed fundraising happens before you ever pitch an investor. I took me years to understand this + wasted time that could have been better focused on higher leverage roles / opportunities. Steven Schmatz and I collectively spent years putting ourselves in a position to build this company and get the hundreds of warm intros to VCs that allowed us to raise this round. No shortcuts. No trust funds. No daddy's golf buddies. No small $1M loan to start my first business. And I was even born in Ohio (gasps). The unfair advantages we did have, we built. Brick by brick. Most other ambitious people could replicate our path because it wasn't rocket science. The formula 👇   - Join a startup(s) - Work really hard - Do what you say you’ll do - Do the best you can to act with high integrity and treat people well - Build real relationships (meaning you help people not just take) - And keep doing it for years Easy in the micro. Hard in the macro because it takes years. Wrote about the above and more in this post. https://lnkd.in/ekuC-5T6

LESSON 1 PITCHING to #VCs or #Angelinvestors: @LatestSale and Rare Founders complaint to David Levine of Glenluna Ventures after START UP DECK ROAST webinar on 05/09/2024, "Can we have some more please? 90 minutes? Not enough!" https://lnkd.in/eUK3jari

👋 Hi network, we're back from our family sabbatical! It was all we imagined and more (DM me for tips about traveling with twin toddlers, Dubai, Bali, Lombok, Koh Samui & Bangkok). 🌟 Back to reality, as my husband and I settle back and look for our next big gigs, I am happy to start contributing my talents to help others, so I've started consulting and freelancing, so you'll see more about me on this journey. 🛑 First stop: the world of VC Platform --> Through my experience in tech entrepreneurship I've had the chance to meet new (and reencounter old) friends in the world of VC. And while I'm no investor, it turns out that VC funds with an edge do way more than fundraising and investing. In fact, many funds are leaning on the new-ish "Platform" function to add additional value to portfolio companies and help them accelerate the path to Product Market Fit and beyond. 🙌 I was very excited when Anke Huiskes at NP-Hard Ventures talked to me about her idea to "productize" their newly announced fund and how Platform could be the answer. I'm stoked to leverage my experience building brands and communities to help Anke and her co-founders set up the platform and community for NP-Hard Ventures. 🍿 We'll be hosting a gathering in our office in Amsterdam to dive into this role with a select group of VCs. If you have successfully implemented this role at your fund, or if you're keen on integrating platform capabilities within your fund, we would love to learn from you and swap notes! Let me or Anke know if you like to join us on January 25th from 18-20.30hr for an in-depth discussion. 👋

Welcome to our new quickfire Q&A series, Meet the Managers. Our first interview is with Reece Chowdhry of Concept Ventures. Concept Ventures is a dedicated pre-seed VC fund that invests in software companies with a people-centric approach. The first question we asked Reece was which individuals helped him the most in his journey, and he answered: Sam Ettelaie (we promise we did not influence his choice!), Matt Penneycard and Dr Arjun Patel. Find out more about Reece's journey below 👇

5 Fundraising Hacks That Nobody Tells Founders By Vojta Rocek, Karol Lasota, Andreas Munk Holm and Moi How To Web 2024 👊 Fundraising is a sales process – Build your funnel and get into execution mode. 💥 The story matters - VCs have cognitive overload and you have to cut through the noise and be memorable. 🔊 Signaling matters – VCs have FOMO and they talk (for better or worse). Use it to build momentum, but remember: trust is key. 💜 It's a people business – VCs are backing you. 🥳 Best tip for a fundraising meeting: Be Yourself and Have fun! Let’s keep the tips/truths about fundraising coming! Cocoa 🍫, Underline Ventures, Inovo.vc and Presto Ventures 📸 to Saul Levin

Choosing the right investor is just as important as a VC choosing the right founder to back! When you're looking for capital think about the skills and capability gaps and choose an investor that will help fill those gaps. Some questions to help with reverse due diligence. 🤔 What is your IIP - Ideal Investor Profile? Define the ideal traits and characteristics you seek in an investor. Consider factors such as industry expertise, network, operational experience, and cultural fit. 🤓 What are your expectations? Clarify your expectations from the investor. Are you seeking access to their expansive network, specific subject matter expertise, or a seasoned generalist to offer diverse industry insights? 👩💻 Do you need a strong product or GTM investor to help with your next phase? Assess whether your next growth phase requires specialised guidance in product development or go-to-market strategy. Look for investors with a track record of success in these areas who can provide invaluable insights and support. 🌏 Is going global the next key milestone in your journey? Consider whether your potential investor has a proven track record of helping launch in international markets. Their firsthand experience can be invaluable in overcoming challenges and seizing opportunities abroad Remember, the right investor isn't just a source of capital but a strategic partner who can help propel your venture to new heights. Join us at OnePitch VC's reverse pitch viewing party: https://lu.ma/77jftdye

Got a s**t term sheet but you're running out of runway? Should you negotiate that fkd up deal? Background: I've raised $7M in angel and VC by pitching to over 150 investors. I've faced this exact situation. Answer: Yes. You MUST negotiate. But... you think... I'll lose the investor. You are equally likely to lose the investor if you don't negotiate good terms. He/she needs to see that you can protect the company's interests in future rounds. So negotiate... ...for things that really matter. - Liquidation preference - Warrants - Control & board structure - Veto rights - Anti-dilution provisions If you don't know these terms 👆 Hang tight... I’ll be sending a deep dive out this Sunday. To get that deep dive, use the link below to get my fundraising guide. TL;DR Always negotiate deal terms, you never know what you can get. I went through 167 investors pitches and raised $7M. I turned that experience into a scalable fundraising system. You can get my fundraising system ☝ for free and skip all the rejections, just click here: https://lnkd.in/e_Fm5zRs 500+ smart founders are using my fundraising guide to cut their fundraising time from years to months. +Follow me here for practical advice and frameworks to accelerate your startup from idea to $2M ARR. If you learned something useful from this post, be sure to give it a like and repost it to share it with your fellow founders!

Bonfire sessions are Camp Hustle’s favorite sessions. We previously teased a few that we’ll be having: 🚀 Differentiating your fund with Courtney Russell McCrea and I 🚀 Investing in consumer verticals with Todd Johnson 🚀 Running a syndicate with Brian Nichols Today, I’m sharing 3 more sessions that we’ll have. [SESSION: What to look for in a pitch deck] As an investor, you’re sifting through hundreds of pitch decks on a monthly basis. And being able to find the needle in the haystack is absolutely essential to picking your winners. Lisa Muccio and Peter Liu from The Pitch will discuss how to spot red flags, what successful founders have in common, questions you should be asking when reviewing a pitch deck, and more. [SESSION: Fundraising as an emerging manager] If the following questions are constantly running through your mind, you’re not alone: 🚀 What do LPs want to see in an emerging manager? 🚀 How do you craft an LP outreach strategy? 🚀 What should your investment strategy include? Join Charles Hudson, Virginie Raphael and Elizabeth Yin to dive into all of that. [SESSION: All about the secondaries market] As valuations for private companies came crashing back down in 2022, investors saw big opportunities to transact in the secondary markets. But if you have questions like… 🚀 How do you know who the key players are? 🚀 How do you value the asset class? 🚀 How do you successfully execute a secondary transaction? Join Jamie Melzer and Ryan Logue as they take you through all of it. *** TLDR: if you want a front row seat to these conversations alongside other brilliant GPs, LPs, and family offices, you should probably grab your ticket soon: camphustle.co Like, really soon. General Admission tickets are only good for 2+ more weeks!

The Ultimate #VC list... a useful list to screen which investors can be a fit for your company!

⏩ Categories of people to avoid when raising your first angel round as a first time founder to save time, energy, and avoid unnecessary demotivation : ▶️ Those who lack conviction & confidence in You. You just know them. Trust your instincts. ▶️ Those who don’t understand startup investing. It will be a waste of time explain basics of it and the risk involved. ▶️ ROI-Only focused investors. At this stage, you need investors who support and believe in your vision too. You won’t have all the answers yet, & discussions with them can be demotivating. ▶️ Avoid chasing overcommitted ones who are constantly unavailable or too busy. Endless follow-ups will drain your energy. ▶️ The ‘Polite Yes’ people who express initial interest but tend to go cold. Identify this early. ▶️ Ones introduced through third parties without a direct relationship, chances are the connection won’t lead to anything meaningful. Btw, This view comes from personal experience. After bootstrapping FinRight for about a year, I successfully raised a small angel round 💸 from well-wishers and supporters from the fintech and banking space. 🙂 FinRight Akash Shah Ketan Das Ashirwad Tomar, Raakhi P.