Today, we’re talking about why you shouldn’t exclusively focus on finding a lead investor when raising your seed round.
One of the most common mistakes I encounter with founders raising a seed, is they’ve only met with Seed Funds and Larger VCs. Then after 50 meetings, they have no term sheet, no other money raised and time is running out.
To avoid this, meet with all types of investors: Angels, Micro VCs, Seed Funds & Larger VCs. This improves your chances of success because you’re more likely to raise at least some money, even if you don’t find a lead, so you can keep the business going. Plus, the smaller checks that say yes will be able to introduce you to other investors, building your momentum and pressurizing any potential lead to make a quick decision.
