Obopay Confidential

Understand Silicon Valley

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Most VC money is in Silicon Valley Need to understand how things work and happen here There are influencers & networks you need to navigate.

Get advisors

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Many challenges you will need help

Best advisors are experienced entrepreneurs

People with strong Silicon Valley networks

Recruit with your passion and vision

Prepare your plan and presentation

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Preparation for VC meetings is very important

Build your strategy, plan, financials, and presentation

Figure out how much money you need to raise – now and over the life of the company

Practice with friends and advisors

Get a Great Lawyer

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Need a great lawyer to support your company

One that has great network

Strong partner who will get involved with your company

Consider delay or reduce fees until you get funded

Carol’s Law

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10 really successful first meetings with qualified investors 5 investors doing due diligence 3 term sheets 1 close Key is solid pipeline and momentum. Expect fall out

Target specific VCs

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VC’s who do your stage, have money, haven’t invested in competition, good rep, like your category.

Have they invested in a women entrepreneur before?

Warm introductions only

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Not allowed to do cold calling Get advisors or lawyer to make an introduction and

encourage them to meet with you.

Audition with an investor you don’t want

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Force rank your VC targets and do a few low priority investors first

You will learn a lot in the first few meetings – you’ll get better

Investigate the NO’s

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Expect some rejection – part of the process. You need to know why they said no. The real reason. Helps you refine your fundraising efforts. Painful – but do it. Listen to all, take advice from experts

only.

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Final thoughts

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Let your passion come through to potential investors Not everybody will be sold, don’t let that discourage you

or your team. Your job is to find the investors, advisors, and employees that will help make this happen. It is not a popularity contest.

Don’t tell investors know who else you are talking to – if they join together it reduces the count in your pipeline.

You can be successful but be prepared to work very hard. You will need to get your team to step up because your fundraising will take time away from building the business.

Follow me on TWITTER - @carolrealini

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