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There are two versions of this one: "VC response: We’d love to get in on this as soon as you find a lead investor!" The first is "talk to us when you have a l
by tommynicholas 9y ago
There are two versions of this one:
"VC response: We’d love to get in on this as soon as you find a lead investor!"
The first is "talk to us when you have a lead". That's not helpful and it's bullshit. When you have a lead you can always raise as much money as you want - I do not contact these VCs back when I get a lead.
"We are 100% committed for at least $X00,000 if you get a lead or fill out the rest of the round" - very helpful, shows conviction, etc. This version is still not great, but look everyone can't be a lead, and having good folks 100% committed with $$ amounts shows a lead you have interest and will quickly fill out a great round around their check.
Don't do the former, only do the latter.