Robert Boer-Director at Blue Horizon Corporation
Seed Check Size: $50K-$500K
Preseed-Growth
Main Takeaways From Conversation:
- VC will answer to Cold Outreach, but do your homework first. It has to be relevant to the Thesis. Don't Ask To Fund A Fish Farm if the VC Thesis is reducing Animal cruelty.
- Qualify the VC: 9/10 times, the founder asks no questions of the VC. What kind of board role do they want, how will they offer value, do you lead or follow, what is the check size, how far are you in the fund size- Ask questions to qualify if the VC is a fit.
- Make sure you leave 3-5 minutes at the end of the meeting to agree on the next steps and clarify anything that is unclear. What are their next steps? How long does the process take? Are you interested in moving forward?
- When should a founder shut it down? Having advisors who give you real feedback is crucial. It is another sign that it does not work with angels or family. If you are impact driven, you can take another model not funded by VC. Redefine how you can get to your ultimate goal. '
- 2024- The Year Of M&A: Look to merge with another company that is congruent with your mission and fills in each other gaps. Position your fundraising with the opportunity of buying another company's assets or IP.
- Speak to corporate gatekeepers: If your final user is accessed through corporates like distributors or large companies- speak with those companies early to validate your assumptions.
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