Mattakushi432 Fundraising
Fundraising Stages
| Stage | Typical Amount | Investors | Milestones Needed |
|---|---|---|---|
| Pre-seed | $250K–$2M | Angels, pre-seed funds | Idea + team |
| Seed | $1M–$5M | Seed funds, angels | MVP or early traction |
| Series A | $5M–$20M | VC funds | PMF evidence, early revenue |
| Series B | $20M–$75M | Growth VCs | Proven GTM, scaling revenue |
| Series C+ | $50M–$200M+ | Late-stage VCs, PE | Market leadership, path to profitability |
| IPO | $100M+ | Public markets | Scale, predictable growth, profitability |
Investor Types
| Type | Check Size | Typical Stage | What They Offer |
|---|---|---|---|
| Angel | $25K–$500K | Pre-seed/Seed | Networks, quick decisions |
| Angel syndicate | $250K–$2M | Seed | Combined check, faster process |
| Pre-seed fund | $250K–$1M | Pre-seed | Dedicated early-stage focus |
| Seed VC | $1M–$5M | Seed–A | Board seats, operational support |
| VC | $5M–$50M | A–C | Institutional follow-on, brand |
| Corporate VC (CVC) | $5M–$50M | A–C | Strategic partnerships, market access |
| Growth PE | $50M+ | B–D | Scale capital, operational expertise |
Pitch Deck Structure (12 Slides)
Slide 1: Cover
- Company name, tagline, fundraise amount
- Contact info, date
Slide 2: Problem
- The specific pain, quantified if possible
- Who suffers from it and how badly
- Why now (timing is relevant)
Slide 3: Solution
- Your product/approach in 1-2 sentences
- Show, don't just tell (screenshot or demo link)
Slide 4: Market Size
- TAM / SAM / SOM with source
- Bottom-up preferred over top-down
- Market growth rate
Slide 5: Product
- How it works (3-5 steps or screenshots)
- Key differentiating features
- Technical moat if applicable
Slide 6: Traction
- Revenue, ARR, GMV, users — whatever is most impressive
- Growth rate (MoM or YoY)
- Key logos/customers
Slide 7: Business Model
- How you charge
- Unit economics (LTV, CAC, payback period)
- Gross margin
Slide 8: Go-to-Market
- Customer acquisition strategy (channels)
- Sales motion (PLG, inside sales, enterprise)
- Distribution advantages
Slide 9: Competition
- Honest competitive map
- Your differentiation clearly stated
- Why you win
Slide 10: Team
- Founders + key hires
- Relevant experience and domain expertise
- Advisors if notable
Slide 11: Financials
- 3-year projections (P&L)
- Current burn rate and runway
- Key assumptions
Slide 12: The Ask
- Amount raising
- Use of funds (specific allocation)
- Milestones this round enables
Narrative Building
The Founder Story Arc (for pitch meetings):
1. Origin: Why do you care about this problem personally?
2. Discovery: What did you learn that convinced you this is a real problem?
3. Solution: Why this approach vs. alternatives?
4. Traction: What proof do you have it works?
5. Vision: Where does this go in 10 years?
The "Why Now" Frame:
- Technology shift that makes this possible
- Regulatory change that created the market
- Consumer behavior shift that opened the window
- Market timing (reference comparable waves: "like X did for Y")
Investor Targeting
Build Your Target List
- Filter by stage + sector + check size (use Crunchbase, Pitchbook)
- Identify firms with portfolio overlap (direct comp = pass; adjacent = good)
- Map connections to specific partners (not just firms)
- Tier: A-list (dream investors), B-list (good fits), C-list (backup)
Warm vs. Cold Introductions
- Warm intro: Portfolio founder → VC partner (highest conversion)
- Network intro: Mutual connection → VC (second best)
- Cold outreach: Low conversion but still worth doing for strong signals
- Template cold email: 4 sentences max — what you do, key metric, why them, ask for 30 min
Process Management
- Run a parallel process (meet 20-40 investors simultaneously)
- Create FOMO by having competing term sheets
- Never fundraise for more than 4-6 weeks without a reset
CRM for Fundraising
Track every investor contact in a simple pipeline:
Columns: Name | Firm | Stage | Status | Last Contact | Next Step | Notes
Status: Identified → Intro Sent → First Meeting → Deep Dive → Term Sheet → Closed
Update daily. Send weekly summary to co-founder.
Data Room Contents
Tier 1 (Share early)
- Pitch deck
- One-pager / executive summary
- Cap table (high level)
Tier 2 (Share after interest confirmed)
- Detailed financial model (P&L, balance sheet, cash flow)
- Product roadmap
- Customer list + reference contacts
- Team bios
Tier 3 (Share after term sheet)
- Certificate of incorporation + amendments
- Board minutes (last 2 years)
- IP assignments + patent filings
- Employee agreements + stock option plan
- Material contracts (customer, vendor, partnerships)
- Audit reports or reviewed financials
Term Sheet Key Terms
| Term | What to Negotiate |
|---|---|
| Pre-money valuation | Higher is better; compare to comparables |
| Option pool | Negotiated pre or post-money; post-money is founder-dilutive |
| Liquidation preference | 1x non-participating preferred is standard; avoid 2x+ |
| Anti-dilution | Broad-based weighted average vs. full ratchet (avoid full ratchet) |
| Pro-rata rights | Future participation rights; standard for lead investors |
| Board composition | Maintain founder majority at seed; negotiate at A |
| Protective provisions | Investor veto on key decisions; keep list narrow |
| Information rights | Monthly financials, annual audit; standard |
Due Diligence Preparation
Common DD Areas
- Technical: Code quality, architecture, security, IP ownership
- Commercial: Customer contracts, pipeline validity, churn analysis
- Financial: Revenue recognition, burn accuracy, unit economics
- Legal: IP assignment, litigation, regulatory exposure
- Team: Reference checks on founders + key hires
How to Run Clean DD
- Organize data room before DD starts
- Designate one founder as DD coordinator
- Be proactive: flag known issues before they're discovered
- Respond within 24 hours to all requests
- Avoid surprises — they kill deals
Fundraising Checklist
Before launching
- Deck is final and reviewed by advisors
- Data room Tier 1 ready
- Target list of 40+ investors built and prioritized
- Warm intro paths mapped for top 15
- Financial model stress-tested
During process
- Weekly investor pipeline review
- Follow-up within 24h of every meeting
- Proactively share positive news (customer wins, metrics)
- Maintain momentum — set deadlines for term sheet decisions