Fundraise with Business Angels for Web3 Startups - Fall '23 Cohort

Week 1

Understanding the fundraising process - In this session, the following topics were covered: introduction to venture capital, understanding the different stages of funding, building a fundraising strategy, and how VCs evaluate startups. Startups seek venture capital because it provides them with funding for growth, but the process of raising capital requires a well-planned strategy and an understanding of the investment landscape. VCs evaluate potential investments based on criteria such as the team, market, product, traction, and scalability, and startups should be aware of common pitfalls to avoid when pitching to VCs.

Week 2

Legal mechanics - In this session, the speaker discussed investor-ready governance of a legal entity and the necessary documents, including Articles of Association, Shareholder Agreement, Rules of Procedure for the Management and Advisory Board, and Rules of Procedure for the Advisory Board. They also talked about fundraising through a capital increase, convertible agreements, and SAFE agreements, highlighting the importance of shareholder resolutions and understanding the terms of the agreements. Finally, they discussed securing investors' commitment through a Letter of Intent (LoI).

Week 3

Communication with investors - The session focuses on preparing the fundamentals and playing the game of fundraising. To prepare, it's important to tell an appealing story, define investor personas, prepare a lead list, and be prepared for typical questions. When playing the game, it's essential to lead the pitching session, continuously practice and refine the pitch, provide proof points and confirmation, and reach closing by building momentum and creating FOMO. The session also provides dos and don'ts for fundraising.

Week 4

Getting ready - How to close your round in 6 weeks - The session focuses on preparing the necessary materials and running a structured fundraising process. It includes building a fundraising CRM, creating a pitch deck and basic data room, identifying key investors, and scheduling meetings. The process involves a high level of intensity with specific goals for each week, including generating follow-up meetings and securing a term sheet by the end of week three.