Fundraising
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This document discusses fundraising and provides advice on the topic. It notes that fundraising is difficult but a consequence of gaining traction, not an objective. There are only five valid reasons for raising funds: having an experienced team, a great product, breakthrough technology, social proof, and traction. It advises fundraising high and as early as possible if the team is strong, and waiting until the product or technology is ready otherwise. Social proof is an opportunity not a strategy, and traction remains most important. It also covers negotiation tactics, term sheets, and the importance of a good lawyer for fundraising.
Fundraising
- 1. This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 3.0 Unported License. This work is protected by copyright and/or other applicable law. Any use of this work other than as authorized under this license or copyright law is prohibited. By exercising any rights to the work provided here, you accept and agree to be bound by the terms of this license. To the extent this license may be considered to be a contract, the licensor grants you the rights contained here in consideration of your acceptance of such terms and conditions. TheFamily FUNDRAISING
- 2. FUNDRAISING • Fundraising is a catalyst • It’s a consequence of having traction, not an objective • It’s hard, very hard... • ... EVERYWHERE! Silicon Valley is not an exception WHY?
- 3. REASONS TO RAISE FUNDS THERE ARE ONLY 5 FUNDRAISING
- 4. TEAMwith at least one exit FUNDRAISING
- 5. PRODUCTDUDE, THIS IS AWESOME FUNDRAISING
- 7. SOCIAL PROOF Do you know Justin? FUNDRAISING
- 8. TRACTIONThe king choice, Indisputable FUNDRAISING
- 9. IF (TEAM) THEN FUNDRAISE HIGH & ASAP FUNDRAISING
- 10. IF (PRODUCT OR TECHNO) THEN FUNDRAISE WHEN IT IS READY FUNDRAISING
- 11. Social proof is not a strategy it’s just an opportunity, if you get it - leverage it FUNDRAISING
- 12. But be realistic traction is still the king EASIER TO HAVE A GOOD TERM SHEET if you have traction FUNDRAISING
- 13. Yes! valuation... ...it’s a non-problem FUNDRAISING
- 14. valuation it’s a negotiation tool FUNDRAISING
- 15. the Term Sheet a pact with the devil (wake up! it’s technical) FUNDRAISING
- 16. • Stock price x nbr of stock = valuation • Liquidation preference • Anti-dilution • Vesting (bad leaver / good leaver) • Employee Pool valuation FUNDRAISING
- 18. • Dividends • Preconditions • Milestones • Information Rights (don’t be casual) • Preferred stock • Exclusivity other clauses FUNDRAISING
- 19. Fonds Les acteurs de l’investissement Angels SeedVC VC FUNDRAISING
- 20. negotiation tactics NEGOTIATE the unimportant stuff AND CONCEDE in order to get what’s really important FUNDRAISING
- 21. if YOU’re not desirable IT’S JUST A WASTE OF TIME! FUNDRAISING
- 22. • ATTENTION! A bad lawyer is harmful • You are always going to pay the investors’ lawyers so MAX CAP • It’s like that, don’t even try to change this practice • What is a good lawyer? With Serge Vatine your lawyer FUNDRAISING
- 23. You are Welcome to Join the Adventure hey@thefamily.co