VC Minute – quick advice to help startup founders fundraise better.
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If any founder wants to get in your round, let ’em in.
The founders who are on our cap table have been some of the most helpful, smartest investors that we have had. Even if it’s a $1K check and your minimum is 10 or 25, let ’em in and figure out how to get ’em in.
That has been something that has just been amazing for me. And now I write checks like that because I just want to help. You want to pay it forward. It’s so hard. We all know that.
It’s so valuable to have fellow founders at your table, especially if they’re about a stage ahead of you.
After we graduated from Techstars, we ended up raising a smaller round, and I ended up connecting with Rachel. So, Sanders, who was also a Techstars alum, was a friend of mine from college. We went to Vanderbilt together. She was a couple of years younger than me, and we were friends; we were sorority sisters, believe it or not. and she is the CEO and co-founder of Routine, which is a really exciting business in the health and wellness space, which is the space that we play in.
She came to me and said, hey, I would love to invest. And I said, absolutely. She actually introduced me to a couple of other founders who liked to invest.
After kind of going through a stage and a cycle in the business and realizing how helpful Rachel was and how helpful a lot of her founder friends were, I decided to get more founders on our cap table. Which was fun and exciting, and I also started investing myself, which has been fun and exciting.
It’s not about the check size; it’s about the value added. I find that VCs don’t always add value. Founders are always going to add value, no matter how big or small the check is.
I would definitely encourage folks to open up their rounds to other founders. This is support that is just; it’s such a hack, just do it.
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