4. Case Study:
Founders: Ben Jabbawy, Jake Cohen
Start of Batch 5: small F&F raised
End of Batch 5: $1M closed, led by notable VC angel.co/privy
1ST WEEK @ 500: Built pipeline of 120+ investors. (investors of
startups in similar space, relevant 500 mentors, etc) Prioritized
each investor, identiļ¬ed warm connections, then HUSTLED.
Sat down w/ Christine to review pipeline, ask for advice on
prioritizing, suggestions for investors to add. Introduced them to
3-4 investors that (1) she had a good relationship with, (2) thought
were a strong ļ¬t for Privy.
Tapped into 500 Mentors. Built strong relationship w/ one mentor,
who ended up doing 1st angel investment in them.
VCs/angels back home (Boston) became very interested once they
joined 500. Privy sent regular updates to folks. One VC who said
no before 500, now is leading their round.
Scoured Demo Day attendee list.
5. Case Study:
Founders: Tracy Lawrence, Jeff Schenck
Start of Batch 5: $0 (sans 500ās investment)
End of Batch 5: $1M closed, led by
Lowercase Capital (Chris Sacca)
Built investor pipeline, then sat down
w/ Christine to review/prioritize.
Made direct intros to a small # of
investors she knew well.
Hustled to build relationships within
500 - attended most talks & met angel.co/chewse
speakers, actively used mentor ofļ¬ce
hours, sat down w/ 500 team.
Got to know fellow 500 founders.
Most effective intros came from
successful founders that an investor
had invested in.
6. Use The Power of 500
1. Youāre now a 500 Startups company. Milk that for all itās
worth.
2. First build relationships w/ 500 companies & mentors, and
yes EVEN 500 [INVESTMENT] PARTNERS. Donāt make āthe
askā until you do that.
3. Sit down w/ 500 Partner & review your fundraising
strategy & investor pipeline. We will offer our advice. 500
will also do direct intros, but selectively.
4. Groom your AngelList proļ¬le. Help each other trend. 500 will
approve connections, but selectively. (and YMMV)
5. Demo Days: We will share the attendee lists beforehand. Take
advantage of this.
6. Mentor Notes: Mentors can invest in Batch 6 companies (you
make the ļ¬nal call). However, refer to Bullet #2 above.
7. Parting Words
Relationships are everything. 500 is a family, but you need
to get to know people too.
Fundraising is hard. Hustle, persistence, and follow-
through are key. Track everything. Always be CLOSING.
Nothing is ever a closed door. Stay optimistic.
You canāt convince people to invest in a crappy product &
team. So donāt forget about #1.