Rea: Docsend metrics show VCs spend one to two minutes on decks.
Andrew Rea · 1st-time founder meets 120 VCs— closes $2.7M in 5 weeks, 10x oversubscribed. Here's the step-by-s... · PMF Show · Jun 24, 2024 · at 7:22
Taxwire co-founder Andrew Rea discusses fundraising deck metrics and investor behavior during early-stage startup fundraising.
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“I can see the metrics on my docs and the average investor spends like between one and two minutes max in my deck.”
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“You have to get into the mindset when you're in fundraising that investors are trying to sell you an investor. Cause like they, they're selling the most commoditized product in the world, the us dollar.”
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Rea: Starting with a lower fundraising target makes oversubscribing easier
“It's honestly, it's like easier to oversubscribe than it is to like not get to the initial number you want. Like say you want to raise two. It's like, it's easier to get to 1.5 and then go up to two than it is to say you're raising like two.”
Rea: Founders without a network should target super-connectors for VC intros
“If you don't have, if you've not like worked in tech enough and like have some existing relationships, getting that many warm intros is probably harder. And so then I think your best option is to find a super connector, get them to believe in you. And then you…”