Playbook / Lessons / Money: pitch, investor email
StartupsPick good investors and finish quickly
In an email to YC founders, Altman says to care more about good investors than good valuations, insist on clean terms, sell about 20% of the company in a seed round, and raise enough to reach the next significant milestone. He also says to get the process over with reasonably quickly so you can get back to work.
“You should care more about good investors than good valuations.”— Sam Altman, Fundraising Advice for YC Companies, Feb 2016
Do this
Write down your round size, the milestone it must fund, and an end date a few weeks away, and tell every investor you talk to that timeline.