Nick Rishwain and Hannah Konitshek of The LegalTechLive Podcast interview Nick to discuss Advice for Founders -- Reaching out to VCs, Pitching over Zoom, and Closing Capital Amidst a Pandemic. In this episode we cover:
- How have valuations been impacted from the pandemic?
- How long will lower valuations persist?
- Are VCs actively doing deals right now?
- What's the most common mistake that founders make when approaching you for funding?
- How much information would you prefer a founder share with you upfront (deck, financials, incorporation, docs, etc.)?
- How often have you met a founder early, been added to their monthly update list and then come back to make an investment?
- Should founders become more clinical when selecting investors?
- How do you convince founders on New Stack as an investor?
- There is one area that New Stack is really hands-on -- what is it?
- What are some things a founder can do to get funded while he's only got a well thought out idea and business plan?
- Many founders don't know if their business is venture scale. How do you determine if a business is venture-backable or not?
- How does a sector that hasn't had huge exits at large multiples (like LegalTech) impact the way you assess startups in that sector?
- How do you evaluate high recurring revenue vs. low recurring revenue?
- Do you have any suggestions for a founder that is pitching now that it is completely remote?
- Overall advice you're giving your portfolio companies right now?
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