FUNDRAISING QUOTESWISDOM FROM THE MASTERS19
“That's the secret. Convince yourself that your startup is worth investing in, and then when you explain this to investors they'll believe you.
PAUL GRAHAM
Founder, Y Combinator
“
”#1THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
FRED WILSON
Co-founder, Union Square Ventures
“The fact is that the amount of money startups raise in their seed and Series A rounds is inversely correlated with success.
“
”#2
THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“(on investor meetings) You have a very short amount of time to make a first impression. If you’ve got a long rambling slide deck...you’re done.
NAVAL RAVIKANT
Co-founder, AngelList
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”#3THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
BABAK NIVI
Co-founder, AngelList
“Create alternatives with focus: pitch and negotiate with all your prospective investors at once. Focus compounds scarcity and social proof, which closes deals.
“
” #4THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“Our most successful companies are led by entrepreneurs who are heat seeking missiles. It doesn't matter where the missile is aimed pre-launch. Successful entrepreneurs are constantly collecting data, looking for bigger targets, adjusting course if necessary. And when they find their target, they're able to lock-onto it — regardless of how crowded the space becomes.
JOSH KOPELMAN Co-founder, First
Round Capital
“
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#5THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
MARK SUSTERInvestment
Partner, Upfront Ventures
“If you can’t get an intro to a VC, hang up your cleats now. You’re done, GAME OVER.
“”
#6THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“The only thing that we know about financial predictions of start-ups is that 100 percent of them are wrong.
BRADFELD
Co-Founder, Foundry Group
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#7THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
BEN HOROWITZ
Co-Founder, Andreessen
Horowitz
“A lot of VCs say things like, ‘We’re part of the team with you and we’re building this together.’ In reality, the entrepreneur is building the company, and I’ve yet to see a VC who shows up in the company’s office at 8 am and works until 11 pm 7 days/week, so no: they are not ‘part of the team’.
“
”
#8THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“Size markets using narratives not numbers.CHRIS
DIXON Partner,
Andreessen Horowitz
“”
#9THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
DAVE MCCLURE
Founder, 500 Startups
“If you’re doing a live demo,PRACTICE! PRACTICE! PRACTICE!
“
”
#10THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“Investors are pinched between two kinds of fear:
fear of investing in startups that fizzle, and fear of missing out on startups that take off.
PAUL GRAHAM
Founder, Y Combinator
“
”#11THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
NAVAL RAVIKANT
Co-founder, AngelList
“Investors are trying to find the exceptional outcomes, so they are looking for something exceptional about the company.Instead of trying to do everything well (traction, team, product, social proof, pitch, etc.), do one thing exceptionally. As a startup you have to be exceptional in at least one regard.
“
”
#12THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“(on investing) Out of ten swings at the bat, you get maybe seven strikeouts, two base hits, and if you are lucky, one home run. The base hits and the home runs pay for all the strikeouts.
MARC ANDRESSEN
Co-Founder, Andreessen
Horowitz
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”#13THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
JON CALLAGHAN
Co-founder, True Ventures
“The best entrepreneurs made me feel like the train was leaving the station whether I got on board or not.
“
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#14THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“95 percent of VCs add zero value. I would bet that 70-80 percent add negative value to a startup in their advising.
VINOD KHOSLA
Founder, Khosla Ventures
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”
#15THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
TRAVIS KALANICK
Founder, Uber
“Keep the competitive leads warm, get your deal oversubscribed, because until your deal is done, it’s just a nice fantasy in your head.
“
”#16
THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“It's an old—and true—cliche that VCs rarely actually say "no" — more often they say "maybe", or "not right now", or "my partners aren't sure", or "that's interesting, let me think about it".
MARC ANDRESSEN
Co-Founder, Andreessen
Horowitz
#17
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THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
JASON CALACANIS
Serial Entrepreneur and
Angel Investor
“I get a lot of emails from entrepreneurs. The best ones are short, to the point and include some question and/or the product.
“
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#18THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
“SHOW ME THE MONEY!JERRY
MCGUIRE Sports Agent
“ ”
#19THE SECRET OF RAISING MONEY:
THE ENTREPRENEUR’S GUIDE TO GETTING FUNDED
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COMING IN
MARCH 2014
SETH GOLDSTEIN @seth
‣ Raised hundreds of millions of dollars for dozens of companies over the last twenty years
‣ CEO and Co-Founder of DJZ‣ Co-founder at Turntable.FM‣ First EIR at Fred Wilson's Flatiron Partners‣ Angel investor (bit.ly, delicious)
MICHAEL SIMPSON @michaelgsimpson
‣ Co-Founder at DJZ‣ Managed process for $3m debt and equity
capital raise‣ Two years M&A investment banking at
Greenhill & Co‣ Angel investor‣ Yale College
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