If a VC makes a founder wait weeks for a follow‑up call they are not interested.
Founders should pivot to a smaller, quicker round using existing commitments rather than wait.
A $300K round done in 2 weeks is preferred over a $1 mn round that drags on.
Send regular monthly updates (newsletters) to both current and prospective investors.
- Rule: if a VC partner has completed 2 calls with you, that signals strong interest
- Indicator: a one‑hour call that turns into a second call
- After the first call, watch for data requests or follow‑up scheduling as interest signals
- Every call after the first functions as an “IC” call, treat as the last chance to secure funding
- Preparation: create a dedicated deck if asked for a product roadmap; coach any additional team members before they join
The project is completely stage agnostic.
It is too early for us to move forward.
VCs follow a repeatable workflow: champion identification, fit check, story alignment, proof of metrics, financial math, and timing; a deal stalls if no partner says “yes” quickly enough.
- Champion Required: a single partner must “take this” before the firm proceeds.
- Fit Check: stage, sector, fund size, ticket size must align.
- Story Alignment: matches patterns of prior successful investments.
- Proof of Metrics: retention, activation, LTV:CAC.
- Math Evaluation: aim for 3× fund return.
- Timing: speed of affirmative decision is critical.
- Founders at the “gap” stage typically run 40–50 meetings trying to pinpoint what’s missing, while existing investors often sit back.
I link this insight to my broader view on founder‑friendly behavior: true founder‑friendliness is demonstrated when investors actively help close the gap rather than merely displaying a friendly label.
- Investors should step up, give honest feedback, and clarify their future involvement.
I want every first‑time founder to understand this before they start raising money. When a VC says "I love this, let me take it to my partners," most founders feel relieved, like the hard part is over. It is not. That is where the real fight begins, and you are not even in the room for it. What they are really saying is "I need to take this to our IC." IC stands for Investment Committee. Every VC fund has one 👇🏻