#PreSeed #VC #Startup #Founders #Investment #Networking
🚀 So, a VC associate got in touch on LinkedIn, we had a Zoom call, and they requested a deck. Standard procedure, right? But, could this actually be a good sign? 🤔
Here are some thoughts and possible solutions to consider:
– The distracted behavior during the call may not necessarily reflect their level of interest. VC associates are often multitasking, and it might not be personal.
– Asking for a deck and inquiring about your funding needs is a positive step. It shows they are somewhat interested in moving forward with the discussion.
– Don’t underestimate the power of follow-up. Send a well-crafted deck that showcases your vision, market potential, and team to keep them engaged.
Remember, the journey of raising capital can be full of ups and downs. Stay positive, keep refining your pitch, and don’t be afraid to reach out to other investors if needed.
Have you experienced a similar situation? How did you handle it? Share your thoughts and let’s learn from each other! 💡🌟
I suspect you know the answer here, but that associate is measured by some KPIs, one of which is probably warm outreach and dealflow. Whether it’s dealflow in good faith is sort of beside the point. You checked off one of his boxes for that week, and that’s probably it.
Send your deck, there’s probably not any downside, but then go back to building your business.
They do this because their job objectives require them to have X calls per week/month/quarter.
It was probably a total waste of time.
If they are otherwise a fit for your next round (right industry sector, right thesis, right check size, lead vs follow (depending on which you need), don’t have a competitor in their portfolio, and have fresh powder (latest fund is no more than 2ish years since closing), when you’re ready to raise, you could tell them you’re raising, give them a little teaser blurb or deck and ask them to arrange a call with a partner at the fund… This occasionally works if you can’t find a better intro to a partner at the fund.
Hey be happy you got this interview, do this write down:
5 things you think you did well
5 things you didn’t do so well
what you can improve
Also write down all the answers they gave the next vc you talk to you’ll be more prepared
Remember its a numbers game for you too!
Sales is a numbers game directly proportional to the number of calls you make. If you are actively trying to raise money, then be prepared to make a lot of calls and experience a lot of rejection. They are doing the same from the other side of the fence so you should be a bit more sympathetic.
Even if you are not actively raising, it would be good experience to test your deck and your pitch if you get that far. And who knows – you might even find a great investor partner.
Bootstrap as much as you can if possible and avoid VC and PE also if possible
A large part of VC’s job is to slurp up all the information on startups they can. So, slurp they do. The issue is it’s hard (but not impossible) to know if someone a bit higher up is going to like the taste and come back for more.
Don’t talk to associates or principals say your busy building and growing the business. If they are really interested they will put you on with a partner.
Associates are just SDRs. Their only objective is to talk to as many prospective investments as possible and flag any solid investments to their partners.
Watch out for title inflation as well (larger firms are notorious for this)… a “partner” with less than 10 years of experience is an associate in disguise.