[ad_1]
Build an investor Networking sounds scary from scratch. This is especially true if, like other founders, you are not part of a social or economic circle where it is not helpful to initiate early discussions with potential investors.
We recently sat down with three founding VCs to talk about the different ways founders can approach this problem, how to get your first word sheet, and what that sheet should contain.
Today we present the first part of the discussion. We spoke with James Norman of Black Operator Ventures, Schumacher-Hodge Dixon of AllRaise of Mandela and Kevin Liu of Techstars and Unknown Ventures.
In part two, the investors will cover in more detail what to ask for and what to say no to in the time sheet.
(Editor’s note: This interview has been lightly edited for length and clarity.)
How do you start a network from scratch?
James Norman: It’s very different when you’re a first-time founder. Depending on which networks you come from, your situation may be different. Some people can start with friends-and-family money. For people in the demographic that I invest in, that’s normal.
“If you have 50 conversations with investors, I say think of the first 10 or 20 as practice.” Kevin Liu, director, Techstars
Getting to angel investors can be easy. If you are not already in the network [that comes with] VCs and warm intros and you want to get your seed capital from the best partners, angel investors can be a good place if you are really early and don’t have a product or just want to find someone who really believes in you.
you do Have something that works, and you feel like you can grow this into something so big, it’s okay to go and get a VC partner – someone. [the pre-seed stage fund] Antecedent.
It all depends on your situation. You can go after VCs; some people [are open] If it is developed in a thoughtful and meaningful way where it can actually be a relationship, to slow down its reach.
Mandela Schumacher-Hodge Dixon: Success is planned, deliberate and intentional. If you want to be successful in fundraising, you have to understand that it’s a game, and to win this game, you have to understand the rules, the culture, and the unwritten rules that you won’t read about in blogs. Post or listen to a podcast.
Be really clear about what you’re building and if you’re genuinely interested in making it “VC-backable”. Because when you make it “VC-backable” you’re signing up to go as big and fast as possible. You must agree with the investors on the terms of their agreement with the LPs on the returns they will receive for the fund. There was an agreement before you came to the pitch meeting.
[ad_2]
Source link