2. Understand Silicon Valley
Most VC money is in Silicon Valley
Need to understand how things work and happen here
There are influencers & networks you need to navigate.
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3. Get advisors
Many challenges you
will need help
Best advisors are
experienced
entrepreneurs
People with strong
Silicon Valley
networks
Recruit with your
passion and vision
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4. Prepare your plan and presentation
Preparation for VC
meetings is very important
Build your strategy, plan,
financials, and presentation
Figure out how much
money you need to raise
– now and over the life of
the company
Practice with friends and
advisors
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5. Get a Great Lawyer
Need a great lawyer to
support your company
One that has great
network
Strong partner who will
get involved with your
company
Consider delay or reduce
fees until you get funded
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6. Carol’s Law
10 really successful first meetings with qualified investors
5 investors doing due diligence
3 term sheets
1 close
Key is solid pipeline and momentum. Expect fall out
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7. Target specific VCs
VC’s who do your stage, have money, haven’t invested in
competition, good rep, like your category.
Have they invested in a women entrepreneur before?
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8. Warm introductions only
Not allowed to do cold calling
Get advisors or lawyer to make an introduction and
encourage them to meet with you.
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9. Audition with an investor you don’t want
Force rank your VC targets and do a few low priority
investors first
You will learn a lot in the first few meetings – you’ll get
better
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10. Investigate the NO’s
Expect some rejection – part of the process.
You need to know why they said no. The real reason.
Helps you refine your fundraising efforts.
Painful – but do it. Listen to all, take advice from experts
only.
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12. Final thoughts
Let your passion come through to potential investors
Not everybody will be sold, don’t let that discourage you
or your team.Your job is to find the investors, advisors,
and employees that will help make this happen. It is not a
popularity contest.
Don’t tell investors know who else you are talking to – if
they join together it reduces the count in your pipeline.
You can be successful but be prepared to work very hard.
You will need to get your team to step up because your
fundraising will take time away from building the business.
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