Startup Syntax: The Ask Behind the Ask
Investor Liaison Hannah Savage discusses navigating venture capital reference requests.
Investor Prep
Fundraising isn’t easy. Support from an existing investor can be invaluable. During the fundraising process, potential investors may request meetings with individuals on your capitalization table (i.e., existing investors). This indicates interest and a desire to assess your qualities as a founder: resilience, ability to handle setbacks, communication skills, receptiveness to feedback and agility. Here are tips to help prepare yourself and your supporters for success.
Introduction
Make the Right Introduction: Select one or two investors with whom you have a strong, positive relationship. Ideally, choose someone who has witnessed both successes and challenges.
Notice
Provide Advance Notice: Inform your investors that they may be contacted, preventing any surprise. Provide context on the current status of discussions.
Points
Provide Talking Points: Instead of requesting a full investment memo, which some investors may be reluctant to share, offer a few bullet points for them to discuss or forward.
Ideas
Possible Talking Points:
How you navigated a difficult decision or pivot.
Your speed and responsiveness during a critical moment.
Traction achieved with limited resources.
Your ability to be coached and follow-through.
These points facilitate support through brief calls, email or conversations with other venture capitalists. Some investors are willing to assist with due diligence. Guide the narrative, provide clear information and minimize the effort required. This will create a positive impression on all parties involved.
Apply
Ready to apply for funding? Please feel free to use the button below to apply via Dealum to the Evolution Ventures MinervaFund.
Feedback
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