11Jan / 2017
The Fundraise De-mystified. We get a lot of questions about how the fundraising process on LetsVenture works for startups. It’s quite simple and in this post, we've outlined of the process in 8 steps. Scroll down to jump straight to the infographic.
Step 1 - Complete your Profile
Join the platform in Stealth or Public mode. Complete your Basic Profile: let us know who you are and what your company does. There is no eligibility criteria for startups. However we look for serious entrepreneurs to be a part of this network – you can be a Startup in Ideation Stage, POC/Beta or Revenue Stage.
If you are looking to incorporate your company/prep for your fundraise and need some legal help we open sourced all our legal documents. Click here to check them out and download them for free.
Step 2 - Investor Connect
After signing up on the platform, make sure your startup profile is completely filled up. Once, you are ready for fundraise, you can apply for Investor Connect while editing your startup profile. Our startup team will review and approve your request to connect with Investors on the Platform. Startups are approved for Investor Connects based on the Startup Funding Readiness Index. This Index evaluates your LV profile, your team profile, traction metrics for your company, your financial numbers, your investor deck and your startup video. As entrepreneurs ourselves, we know that there will be outliers who will break conventional thinking. If in doubt, we pass the benefit to the entrepreneur!
Step 3 - Investor Outreach
We help you with your outreach by connecting you to relevant investors via our mobile app, investor newsletters and dashboard feed. You can also search for Investors based on the sector, location etc. Also, go through their current investment portfolio and investment thesis to find the right set of investors you want to connect with for your fundraise.
Step 4 - Traction
Get views, followers and likes on our web and mobile platform. Today, at LetsVenture, we have more than 2000+ angel investors from 21 countries, new angel investors and a experienced angels.
Step 5 - Interaction
Using our message features on the app and on the web you can talk to investors who have shown interest and/or investors you are interested in.
Step 6 - Find a Lead
A lead investor is crucial to a fundraise and ensuring growth of your startup. He/she will be a key player in driving your fundraise and on-boarding other investors. Through our platform you can identify a lead investor from your list of committed investors
Step 7 - Get Commits
Simple. By this point in the process, you would have spoken to a number of investors and would have identified or got discovered by investors who are in sync with your vision and have the right tools to take your company to the next level.
Step 8 - Close the Round
As your commits increase, you will get another push on the platform as a featured syndicate to close the round and complete your fundraise. Paperwork, payments etc. will follow. Oh and Congratulations :)