Robb Doub, a seasoned venture capitalist, discusses the right time and way to raise money.
- Guest: Robb Doub, General Partner and Co-Founder, New Markets Venture Partners
- Host: Anil Hemrajani, Founder of Startup Sidekick
- Take the money if anyone is willing to write a check.
- Build relationships with investors before and after you fundraise; do not view it as a one-time transaction.
- Raise money for the right reason (e.g. scaling versus business model not working).
- Research the investment firm (e.g. are they active, is their bar too high).
- Get to the know the partner at VC firm you’ll be working with.
- 00:56 Overview of New Markets Venture Partners (NMVP)
- 03:25 How Ben & Jerry’s invested in NMVP
- 04:38 Terminology
- 05:38 Definition of fundraising and how NMVP builds relationship long before funding (versus viewing it as a transaction)
- 07:44 Why raising money isn’t a measurement of success and how raising money changes your company’s trajectory
- 12:10 When and how to raise money the right way
- 15:00 What type of investors to contact (e.g. angels, VC) and how to vet them
- 16:55 Advice on how to manage the raised money (cash is king)
- 20:48 Takeaways (see above)
- 23:00 BONUS: Prioritization and work-life balance