Editor’s note: Zeke Trezise is a UNC student and Carolina Angel Network affiliate. He is a current Venture Fellow at New Stack Ventures.
CHAPEL HILL – Picture this. You’re working on your pitch deck for the third time this week. It’s a pain but you need to do it to raise capital. Maybe you’ve already shared the pitch deck with a few VC’s or done some cold outreach to them, but you’re getting tepid results. What are you doing wrong?
You’re not doing anything wrong. However, you aren’t being as effective as you could be. While there is no one way to get noticed fundraising, I can give you some simple tips to be more productive and connect with VC’s quicker.
1) List Your Startup on Crunchbase & AngelList
Crunchbase is the first place many VC’s look for new and interesting companies. It’s easy to create a profile. Bonus points if you include your company email (not info@company.com or hello@startup.io, but name@nextunicorn.co) since it helps the analyst or fellow reaching out to know they’re getting in touch directly with you. AngelList is also worthwhile to join.
Sign Up for Crunchbase: https://support.crunchbase.com/hc/en-us/articles/115011823988-Create-a-Crunchbase-Profile
Sign Up for Angellist: https://angel.co/join
2) Work with Local Angel Groups and Accelerators
The best networks are those of your neighborhood angels and accelerators. Recommendations from them typically go to the top of the stack. Don’t be afraid to ask your angel investors for warm intro’s to VC’s. WRAL Techwire has a great directory of local Angels and Accelerators.
Check this site: https://startupguide.wraltechwire.com/accelerators-mentorship-programs/
3) Connect with Venture Fellows
With a quick LinkedIn message including the amount of your current raise and a contact email, reaching out to VC Fellows is an easy way to put your startup on a list of potential investment opportunities. Many other venture fellows, like myself, are college students helping out VC’s for the learning it provides and would love to pass on your information if it’s a fit for our firm.
4) The Cold Email & VC Firm Fit
You’re going to want to find a VC Firm that invests in your stage and sector. A great tool for this is VC-Rank.com, developed by my firm, New Stack Ventures, to solve this problem. Before you cold email, it’s advisable to do a little bit of diligence on the firm. You’ll want to be prepared with questions for the firm about their current fund and prior founders they’ve worked with.
A Final Note
COVID has tightened the time surrounding deals. What used to take months and multiple flights has been compressed into weeks and several zoom calls. The current market is founder-friendly and there’s never been a better time to start a business. Good luck!
