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At Visible, we like to compare a venture fundraise to a traditional B2B sales and marketing funnel. At the top of your fundraising funnel, you are trying to add qualified investors via warm and cold outreach. In the middle of your fundraising funnel, you are nurturing potential investors with meetings, pitch decks, monthly updates and more. At the bottom of your fundraising funnel, you are working through due diligence and turning potential investors into new investors. Related Resource: The 12 Best VC Funds You Should Know About Like a traditional B2B sales and marketing process, you need to find qualified “leads” (AKA investors) to fill the top of your funnel. If you’re located in Atlanta, check out our list of investors in the area below: 1. BIP Ventures Since 2007, BIP Ventures has invested in the success of B2B software and tech-enabled service businesses at all stages of maturity. In addition to capital, we support entrepreneurs with access to infrastructure, acumen, and talent that results in category-leading companies. A distinct multi-stage investment platform drives consistent top-quartile returns. Location: Atlanta, GA 2. Engage As put by their team, “Engage is a first-of-its-kind innovation platform comprised of category-leading corporations in the Southeast that have joined forces to support startups building the future of enterprise.” Focus and industry: Engage focuses on B2B enterprise companies. They have 6 strategic themes within B2B enterprise — “Customer Experience, Supply Chain & Manufacturing, Future of Work, Big Data, Analytics, & Security, Logistics & Mobility, and Climate Tech & Sustainability.” Funding stage: According to their Visible Connect Profile, Engage invests in Seed through Series B stages According to their team, “Engage is an enterprise venture platform that counts 11 of the country’s largest corporations as investors. We invest in enterprise and frontier technology informed by insights from our corporate partners.” Some of their popular investments include: Fast Radius MetaCX Paladin ThingTech Location: Atlanta, GA 3. Forté Ventures As put by their team, “Forté Ventures is an institutional venture capital firm uniquely focused on collaborating and co-investing with Corporate Venture Capital groups. We believe that the right corporate strategic investors can act as a force multiplier for startups, and we work alongside our corporate partners to ensure the realization of those benefits.” Focus and industry: As put by their team, “We pursue a generalist model, searching for great companies across diversified industries and business models.” Funding stage: The team at Forté looks for companies that have found product market fit and have yet to scale — typically series A and series B. As put by their team, “Our focus and experience allow us to help entrepreneurs navigate the complexities of corporate investment, while also enabling us to serve as trusted partners to both our portfolio companies and our syndicate partners.” Some of their popular investments include: Urgently Integrate Springbot Location: Atlanta, GA and Sunnyvale, CA 4. Fintech Ventures Fund As put by the team at Fintech Ventures Fund, “We are hyperfocused on investing in founders building disruptive early-stage fintech and insurtech companies.” Related Resource: FinTech Venture Capital Investors to Know Focus and industry: The team at Fintech Ventures Fund is focused on fintech and insurtech companies. Funding stage: The team is focused on pre-seed and seed stage investments. They typically write checks anywhere between $250k and $1M. As put by their team, “Our primary mission is to forge strategic partnerships with entrepreneurs and provide them with the resources and support they need to build successful businesses. Following our Fund’s initial investment, our portfolio company founders have secured over $1 billion in cumulative equity and debt financing from leading institutional co-investors.” Some of their most popular investments include: Groundfloor Marble Vero Technologies Location: Atlanta, GA 5. Tech Square Ventures As put by their team, “Tech Square Ventures is an Atlanta-based early-stage venture capital firm. We partner with visionary entrepreneurs and help them with what they need most – access to markets and customers.” Focus and industry: The team at Tech Square Ventures is focused on B2B (enterprise), Marketplace, Tech-enabled services, and university spinouts. Funding stage: Tech Square Ventures is focused on early stage startups. As put by their team, “We believe the best part of what we do is the privilege of working with exceptional founders. We invest in the early stages of company development, partnering with entrepreneurs building transformative companies and continuing as committed partners through the journey of building a successful business.” Some of their most popular investments include: The Mom Project Paladin MetaCX Location: Atlanta, GA 6. TTV Capital As put by their team, “TTV Capital is one of the first and only early-stage venture capital firms focused exclusively on investing in companies in the financial services ecosystem. We’ve been a driving force in fintech since before the sector was defined.” Focus and industry: TTV Capital is focused on companies in the financial services ecosystem. TTV also has the following subset focus areas: Funding stage: The team at TTV Capital is focused on early-stage investments TTV has been investing for multiple decades so their portfolio spans many markets and generations of fintech companies. Check out some of their most popular investments below: Bitpay Greenlight Cardlytics Location: Atlanta, GA 7. Noro-Moseley Partners As put by their team, “At NMP, our investment philosophy is centered squarely on the entrepreneurs with whom we partner. In addition to capital, the firm’s goal is to provide energy, connections and domain expertise to strong entrepreneurs in order to help them succeed.” Focus and industry: As written by their team, “NMP is vertically-focused within the information technology and healthcare markets.” Funding stage: NMP typically looks for companies with a $2M-20M run rate and will write checks between $10M and $20M. Some of NMP’s most popular investments include: Red Canary Revenue Analytics UpwardHealth Location: Atlanta, GA 8. Fulcrum Equity As put by their team, “Fulcrum Equity Partners manages over $600 million and makes equity investments in rapidly growing businesses that are led by strong entrepreneurs and management teams. We target companies within the healthcare, B2B SaaS, and technology-enabled services industries. We provide financing to meet a wide range of needs including internal growth initiatives, acquisitions, shareholder liquidity, buy-outs, recapitalizations, and divestitures.” Focus and industry: Fulcrum Equity is focused on companies within healthcare, B2B SaaS, and tech-enabled service industries. Funding stage: Fulcrum typically writes checks between $5M and $30M Fulcrum’s criteria slightly differ depending on the industry of the company. You can learn more about their investment criteria here. Some of their most popular investments include: Olio Avant-Garde HomeFirst Location: Atlanta, GA 9. Atlanta Ventures As put by the team at Atlanta Ventures, “We are focused on serving entrepreneurs in earlier stages (<$5M ARR). We offer a unique community in partnership with the Atlanta Tech Village. We have an exclusive focus on fast growing companies in the Southeast region. Our team has direct operating experience as successful entrepreneurs, product leaders, and deal advisors. We typically lead or fill the entire round with an investment of $250K to $5M, and we built the Studio for entrepreneurs looking to launch with us at the absolute ground floor of their business.” Focus and industry: Atlanta Ventures has a focus on SaaS and subscription businesses. Funding stage: Atlanta Ventures will invest in any stage from seed to series B. As they put it, “After achieving Product/Market fit, you may even find yourself well on your way to hitting a milestone very few companies ever reach: $1M in ARR. We love partnering with entrepreneurs at this stage of the journey. “ Some of Atlanta Ventures most popular investments include: Calendly Salesloft Terminus Location: Atlanta, GA Related Resource: 24 Top VC Investors Actively Funding SaaS Startups Network with investors today with Visible At Visible, we oftentimes compare a fundraise to a B2B sales and marketing funnel. At the top of your funnel, you are finding new investors. In the middle, you are nurturing and pitching potential investors. At the bottom of the funnel, you are working through diligence and ideally closing new investors. Related Resource: A Quick Overview on VC Fund Structure With the introduction of data rooms, you can now manage every aspect of your fundraising funnel with Visible. Find investors at the top of your funnel with our free investor database, Visible Connect Track your conversations and move them through your funnel with our Fundraising CRM Share your pitch deck and monthly updates with potential investors Organize and share your most vital fundraising documents with data rooms Manage your fundraise from start to finish with Visible. Give it a free try for 14 days here.

Webinar Recap Throughout a fundraise, founders are expected to share the data and financials that fuel their business. Jonah Midanik of Forum Ventures joined us on March 21st to discuss all things SaaS metrics and fundraising. Watch Recording A few things you can expect us to cover: The SaaS metrics every founder should know What metrics a founder should expect to share with potential investors What metrics and financials a founder should expect to have prepared for due diligence How early-stage founders should think about more “advanced” SaaS metrics About Jonah Jonah has spent the last twenty years at the intersection of marketing and technology as a serial entrepreneur in Canada. He has experienced several different lenses on the founder’s journey from bootstrapping his own startup, to launching new corporate divisions, and raising 8 figures of venture capital. At Forum, in supporting hundreds of founders’ growth, Jonah has carved out a niche in the market of teaching founders how to build and deliver pitch decks and which metrics to include to convey traction to raise capital successfully.

Women-led venture capital firms are relatively new players in the VC world, but they are rapidly gaining traction. These firms are founded and run by women, who bring a unique perspective to the table when it comes to identifying and investing in promising startups. One of the advantages of women-led VC firms is that they tend to invest in companies that are founded by women or that have a diverse leadership team. Studies have shown that diverse teams tend to perform better, so investing in such companies is not only good business but also much-needed. Women-led startups receive only a small fraction of VC funding. According to PitchBook, “In 2022, companies founded solely by women garnered just 2% of the total capital invested in venture-backed startups in the US.”. This lack of funding has a profound impact on women-led companies, making it harder for them to grow and succeed. To address these issues, it is important to promote diversity in the VC industry. This can be done by supporting women-led VC firms and encouraging more women to enter the industry. It can also be done by promoting diversity in the companies that VC firms invest in, and by challenging the biases that exist in the industry. Women-led VC firms bring a unique perspective to investing and have the potential to promote diversity in the companies they invest in. Image source: PitchBook How Women-led VC Firms Are Influencing The Broader Industry Women-led VC firms have had a significant impact on the VC industry, driving investment trends and promoting more diverse and inclusive practices. With a focus on funding companies led by women and underrepresented minorities, women-led VC firms have increased the visibility and opportunities for these groups, shifting the traditional power dynamic within the industry. This shift has led to the development of more inclusive practices, such as blind investment pitches and increased emphasis on diversity metrics. Additionally, women-led VC firms have demonstrated that investing in diverse founders is not only socially responsible, but also financially lucrative. As a result, the broader VC industry has started to recognize the benefits of diversity and inclusion, leading to an increased emphasis on funding diverse founders and promoting more diverse leadership within VC firms themselves. Related resource: The Femtech Frontier: Opportunities in Women's Health Technology + the VCs Investing Benefits of Working With Women-led VC Firms Women-led VC firms have a better understanding of the unique challenges faced by women entrepreneurs, and they often have a broader network of resources and connections to support them. Women-led VC firms can provide mentorship, access to funding, and networking opportunities that can help women founders overcome barriers to success. Additionally, working with women-led VC firms can help promote diversity and inclusion in the industry, which is critical for building a more equitable and sustainable startup ecosystem. By investing in women-led businesses, these firms are helping to close the gender gap in entrepreneurship and promote the growth of female-led businesses. Ultimately, partnering with a women-led VC firm can lead to better outcomes for women founders and contribute to a more diverse and inclusive startup ecosystem. Breaking into the VC industry as a woman can be challenging, but it is not impossible. Here are a few tips for women looking to start their own VC firms: Build a strong network: Building relationships with successful investors and entrepreneurs is critical. Attend networking events, conferences, and meetups to connect with potential partners and investors. Gain experience: Consider working for a VC firm or startup to gain the necessary experience and knowledge of the industry. This can help build your credibility as a potential VC and provide valuable insights into the investment process. Develop a unique investment thesis: Create a unique investment thesis that sets you apart from other VC firms. This will help attract investors and provide a framework for identifying and evaluating potential investments. Fundraising: Fundraising is a critical component of starting a VC firm. Start by building a strong pitch and a compelling story that resonates with potential investors. It’s essential to have a diverse group of investors to ensure a well-rounded portfolio. Build a diverse team: Creating a diverse team is critical in the VC industry. Building a team with different backgrounds, perspectives, and experiences can help identify unique investment opportunities and promote more inclusive decision-making. Find investments: Identifying promising startups and entrepreneurs is a crucial part of the VC process. Connect with entrepreneurs, attend pitch events, and leverage your network to find investment opportunities. Resources EY Entrepreneurial Winning Women– EY provides program participants evergreen access to our vast resources, rich networks and know-how, helping to strengthen their abilities to become market leaders. At the same time, the program creates a vibrant global community of successful women entrepreneurs and inspiring peer role models who, in 2021, numbered more than 800 across 49 countries. Lolita Taub‘s Newsletter (Issue 77: Women’s History Month edition) has great resources for female founders. 37 angels– is a community of women investors dedicated to educating early-stage investors and promoting women’s participation in investing. WLOUNGE– is a mission-driven organization headquartered in Berlin that supports diversity and women in business and technology. They incubate startups and founders, connect startups, VCs, and corporates to the ecosystem, and facilitate hundreds of deals and investments. They provide innovative services, workshops, round tables, conferences, and leadership programs. WLOUNGE focuses on building partnerships for investment opportunities, founder support, and incubating. They collaborate across the world, including Germany, Europe, Israel, the U.S, China, and Asia. Ultimately, WLOUNGE was established to uplift the tech ecosystem and the women within it. Women’s Business Center-WBCs provide free, to low-cost counseling and training and focus on women who want to start, grow, and expand their small business. digitalundivided– is the leading non-profit leveraging our data, programs, and advocacy to catalyze economic growth for Latina and Black women entrepreneurs and innovators. Our goal is to create a greater world where all women of color own their work and worth. Our mission moves the entrepreneurial ecosystem forward, to increase funding, access, and opportunities for women of color in business and innovation. Tory Burch Foundation– the organization strives to strengthen female entrepreneurship by offering capital, education, and fellowship programs. They collaborate with Bank of America to provide affordable loans via Community Lenders as part of their capital program. Additionally, in partnership with Goldman Sachs’s 10,000 Small Businesses, the foundation furnishes female small-business owners with education in business and management. Furthermore, the Tory Burch Fellows Program encompasses workshops, a year of support, a $10,000 prize, and an opportunity to present a pitch for a $100,000 grant. AIm High AI Bootcamp For Female Founders: Now is last chance to apply and join this equity-free 12-week online accelerator, get business support and access to leading VC funds like Molten Ventures, Dawn Capital, Antler, Nauta Capital, Sunfish Partners and more. All Raise– All Raise started as a call to action. Today, it’s a community, a movement, and a rallying cry centered on the belief that our personal ambitions can and will include the prosperity of all women. Recast Capital– Women-owned platform supporting and investing in emerging managers. Their enablement program is a tuition free educational program 82% of which are female GPs. Women founders looking for investors: share your details in Lolita Taub‘s twitter thread here 10+ VCs & Accelerators Investing in Underrepresented Founders Women-led VCs RevUp Capital “For women investors and female founders, innovation isn’t always about activism. Often, it’s a matter of necessity,” says Melissa Withers, Managing Director of RevUp Capital. “From the beginning, women in entrepreneurship had to do things differently to create the opportunities we wanted. For all the hardships that come with that, there’s also a measure of freedom in it. Women in the industry aren’t just breaking the rules, they’re playing a new game. Good luck getting that genie back in the bottle.” About: RevUp Capital invests and supports revenue-driven B2B and B2C companies. Companies receive $350K-500K in non-dilutive cash delivered in tandem with RevUp’s growth platform, which includes strategy and execution support to accelerate market-facing growth. Thesis: We invest with a singular purpose: to give founders a better shot at success. Traction metrics requirements: Companies enter our portfolio with $500K-$3M in revenue, a strong growth rate, and plans to reach $10-30M in revenue in 3-5 years. We invest in both B2B and B2C companies. RevUp is committed to investing in women, people of color, and in founders outside of top tier geographies. We believe in you. Funding stage: Seed, Pre-Seed, Series A Primetime Partners Who or what has been most supportive in your journey of leading a women-founded VC firm? “The other female GPs and investors I have met in NYC community and beyond have inspired me, taught me and humbled me.” – Abby Levy Managing Partner and Founder at Primetime Partners Thesis: Improving the quality of life for older Adults, aging and longevity. Funding stage: Seed, Pre-Seed, Series A, Series B Female Founders Fund About: Female Founders Fund is an early-stage fund investing in the next generation of transformational technology companies founded by women. Thesis: Investing in the exponential power of exceptional female talent. Funding stage: Seed Supernode ​​Ventures About: We serve two groups: entrepreneurs and investors. We love connecting both groups together, not only for investing purposes, but also for problem-solving, partnerships and other activities. Thesis: At Supernode Ventures, we are investing in entrepreneurs to help transform the way people live, work and socialize. Funding stage: Pre-Seed Urban Innovation Fund About: A venture capital firm that provides seed capital and regulatory support to entrepreneurs shaping the future of cities – helping them grow into tomorrow’s most valued companies. Thesis: The Urban Innovation Fund invests in startups enhancing the livability, sustainability, and economic vitality of our cities. Funding stage: Pre-Seed, Seed Ganas Ventures About: Ganas Ventures invests in pre-seed and seed Web 2 and Web 3 community-driven startups in the US and Latin America. Funding stage: Pre-Seed, Seed Steelsky Ventures About: SteelSky Ventures is an early stage VC fund investing in Women’s Health. Funding stage: Seed, Series A Serena Ventures About: Serena Ventures focuses on early stage companies, and giving them the opportunity to be heard. Thesis: Serena Ventures invests in founders who are changing the world with their ideas and products. Funding stage: Series A Moxxie About: Moxxie Ventures is a $25M seed-stage fund that invests in founders who make life and work better. Thesis: Make life and work better. Climate positive. Funding stage: Pre-Seed, Seed Overlooked Ventures About: We support founders who operate early-stage technology companies who are historically overlooked and provide them capital, resources, and connections to scale their business. We’ve been in your shoes. We’re tech founders with 10+ years of experience running companies and making deals. Now we’re authentically supporting entrepreneurs with capital and a founder-friendly focus. Funding stage: Pre-Seed, Seed Mendoza About: Mendoza Ventures is an early and growth stage Fintech, AI, and Cybersecurity venture fund that provides an actively managed approach to VC. We invest in areas where we have deep domain expertise, companies with early revenue, a clear value proposition and using a proven due diligence model. We focus on diversity as playing an important role in our investment decisions, as roughly 75% of our portfolio consists of start-ups led by immigrants, people of color, and women. Based in Boston, Mendoza Ventures is women owned and the first LatinX-owned venture fund on the East Coast. The firm is run by husband and wife Adrian and Senofer Mendoza, entrepreneurs and prior operators who are veterans of the Boston start-up ecosystem. Thesis: Started by serial entrepreneurs and investors, Adrian Mendoza and Senofer Mendoza, their investment thesis is this – Focus on helping the startups grow by leveraging the experience of advisors and investors in their respective fields. By giving experience and accountability first, learning more about the team, technology and market, only then can an informed investment be made. Funding stage: Pre-Seed, Seed Halogen Ventures About: Halogen Ventures is an early stage venture capital fund focused on consumer technologies prioritizing a female in the founding team. Thesis: Halogen Ventures is an early stage venture capital fund focused on female led consumer technology companies. Funding stage: Early Stage GingerBread Capital About: GingerBread Capital invests in the next generation of women founders and entrepreneurs leading high-growth businesses Funding stage: Series A, Series B, Seed Forerunner Ventures About: VC firm investing in transformative B2C & B2B companies defining a new generation of business, with an eye on the consumer. Funding stage: Seed, Series A, Series B, Growth Kapor Capital About: Kapor Capital invests in early stage gap-closing tech enabled startups. Thesis: Kapor Capital invests in tech-driven early stage companies committed to closing gaps of access, opportunity or outcome for low income communities and/or communities of color in the United States. Funding stage: Pre-Seed, Seed, Series A, Series B Vitalize Ventures About: VitalizeVC was founded in 2017 as a seed-stage venture fund. It was originally launched as a result of continued growth and investment appetite among the IrishAngels investor network. Initially called IrishAngels Ventures, it was rebranded VitalizeVC in 2019. Funding stage: Seed, Series A BBG About: BBG Ventures is a seed and pre-seed venture fund leading investments in female & diverse founders who are uniquely qualified to solve the toughest challenges facing new consumers, workers, and employers. Thesis: The next generation of breakout companies will solve problems for the 99% and build solutions for key emerging populations in America. With today’s consumer being intersectional, more conscious, multi-generational, and often underserved; we believe that the founders who intuitively understand her are the ones poised to fix our broken systems. These founders have a natural competitive advantage — which means we do too. We look for companies that drive systems change, build 10X better consumer solutions, or address new buying behaviors across the biggest categories of consumer spending that are ripe for reinvention, focusing on: Healthcare Transformation, the Work and Learning Revolution, Climate & Consumption, Overlooked Consumers, and Fintech. We seek out companies making large-scale behavior change possible by improving access, enhancing affordability, or reducing friction in the consumer experience. Funding stage: Seed, Pre-Seed StandUp Ventures About: StandUp Ventures is a Toronto-based, seed stage venture capital fund focused on investing in high growth ventures with at least one female founder in a key leadership role. We believe that women led companies think outside the box, recruit great talent, and serve bigger markets. We invest in seed-stage, for-profit technology companies with at least one woman in a C-level leadership position within the company and an equitable amount of ownership. Thesis: We’re dedicated to curious, confident, and fearless entrepreneurs building ground-breaking technology companies. We partner with ambitious founders across Canada to break through from Seed to Series A. Funding stage: Seed Amboy Street Ventures About: The world’s first venture capital fund focused on Sexual Health & Women’s Health Technology startups. Amboy Street Ventures is an active investor and adds value above and beyond capital. Its dedicated Value Enhancement Team supports portfolio companies with marketing & branding, sales & distribution, product development & scientific innovation and public education resources through its position within the Healthy Pleasure Group, an ecosystem dedicated to solving the problems that startups face in the Sexual Health and Women’s Health Tech market. Thesis: Amboy Street Ventures invests in the Seed and Series A rounds of Sexual Health & Women’s Health Technology startups that are progressing the industry in America and Europe. Funding stage: Seed and Series A SoGal Ventures About: As the first female-led millennial venture capital firm, SoGal Ventures represents how far our generation has come, and how deep our impact on the world can be. We believe in the power of diversity, borderless business, and human-centric design. We invest in seed stage diverse founding teams in the U.S. and Asia, and aim to be the first institutional investor for our portfolio companies. Our investments paint the future picture of how we live, work, and stay healthy. Thesis: Next generation of living, working and staying healthy, created by and for the rest of us. Funding stage: Pre-Seed, Seed Urban Innovation Fund About: A venture capital firm that provides seed capital and regulatory support to entrepreneurs shaping the future of cities – helping them grow into tomorrow’s most valued companies. Thesis: The Urban Innovation Fund invests in startups enhancing the livability, sustainability, and economic vitality of our cities. Funding stage: Seed, Pre-Seed Recast Capital About: Recast Capital is a platform supporting and investing in emerging managers in venture capital. As our name suggests, we are breaking the traditional mold and doing things a bit differently. Thesis: Our founders experienced first-hand the shift that was taking place in venture and came together with a clear view of what was needed in the industry: an institutional-grade intermediary to help investors access the opportunity presented by emerging managers, and create a way to support those managers in the process. Funding stage: Pre-Seed, Seed Start Your Next Round with Visible We believe great outcomes happen when founders forge relationships with investors and potential investors. We created our Connect Investor Database to help you in the first step of this journey. Instead of wasting time trying to figure out investor fit and profile for their given stage and industry, we created filters allowing you to find VCs and accelerators who are looking to invest in companies like you. Check out all our investors here and filter as needed. After learning more about them with the profile information and resources given you can reach out to them with a tailored email. To help craft that first email check out 5 Strategies for Cold Emailing Potential Investors. After finding the right Investor you can create a personalized investor database with Visible. Combine qualified investors from Visible Connect with your own investor lists to share targeted Updates, decks, and dashboards. Start your free trial here.

Being a startup founder is difficult. On top of having to build a product or service, hiring top talent, managing the day-to-day, and more — founders have to fund their business. This can come in the business of equity financing, bootstrapping, debt, or other methods. For founders looking to raise equity financing (via angel investors or venture capital), running a process is crucial to success. A strong process starts by finding the right investors to target and pitch during your raise. For founders in New York, check out a few active angel investors in the area below: Angel investors in New York As we mentioned above, running a process is crucial to fundraising success. At Visible, we often compare a fundraise to a traditional B2B sales and marketing funnel. At the top of your funnel, you add qualified investors to your pipeline (via cold and warm outreach). In the middle of the funnel, you nurture and pitch potential investors with email, updates, pitches, meetings, etc. At the bottom of the funnel, you are hopefully closing your new investors. To help you filll the “top of your fundraising funnel,” check out a list of angel investors in New York below: 1) Roger Ehrenberg Roger Ehrenberg is the Founding Partner of IA Ventures. In addition to founding IA Ventures, Roger is an active investor. In 2022, Roger has started Eberg Capital. As put on it’s website, “Eberg Capital helps creators and their fans develop closer, more authentic relationships. Our work sits at the intersection of sports, gaming, the arts and web3.Eberg Capital helps creators and their fans develop closer, more authentic relationships. Our work sits at the intersection of sports, gaming, the arts and web3.” Some of Eberg capitals most popular investments include: Alt Rally Cabin Related Resource: 10 VC Firms Investing in Web3 Companies 2) Adam Rothenberg Adam Rothenberg is a Partner at BoxGroup. Adam is primarily focused on seed stage companies. Learn more about some of the investment criteria for BoxGroup below: Some popular investments include: Plaid Airtable Blue Apron Related Resource: VCs Investing In Food & Bev Startups 3) Joanne Wilson Joanne Wilson is synonymous with angel investing in New York City. As put on her website, “Joanne Wilson is a prominent early-stage angel investor, entrepreneur, and philanthropist with a diverse background in retail, wholesale, media, real estate and technology. She has over 140 companies in her investment portfolio such as Food52, Eater, and Parachute Home, and has invested in several restaurants throughout downtown New York City.” Some of Joanne’s most popular investments include: Houseplant Blue Bottle Coffee Parachute 4) Kal Vepuri Kal Vepuri is the CEO of Hero. In addition to leading Hero, Kal makes angel investments via his personal investment vehicle, Brainchild Holdings. As put on his LinkedIn, Kal (via Brainchild) has made “300+ direct investments in seed stage marketplaces, networks and saas in fintech, blockchain, healthcare services, enterprise/SMB and consumer.” 5) Gary Vaynerchuk Gary Vaynerhcuk is a recognizable name in the angel investing world. Gary is a Partner at VaynerRSE. At put on their website, “Through our partnership with leading entrepreneur Gary Vaynerchuk, Vayner/RSE invests in companies building tomorrow’s capabilities through unique consumer insight and relentless drive. Beyond capital, Vayner/RSE supports its community with access and insights derived across both our investment portfolio and the operating companies we oversee on a daily basis.” Gary has made investments in some of the most popular tech companies of our era: Twitter Tumblr Uber 6) Fred Wilson Fred Wilson is a Partner at Union Square Ventures. As put on his website, “Fred Wilson has been a venture capitalist since 1987. He currently is a Partner at Union Square Ventures and also founded Flatiron Partners.” Some of his most popular investments include: Twitter Etsy Coinbase 7) Chris Dixon As put on the a16z site, “Chris Dixon is a general partner and has been at Andreessen Horowitz since 2012. He founded and leads a16z crypto, which invests in web3 technologies through four dedicated funds with more than $7 billion under management.” In addition to investing at Andreessen Horowitz, Chris writes angel checks in various technology companies. Angel investor firms in New York In addition to individual angel investors, there are firms dedicated to angel investors that write checks in startups across many stages and sectors. Check out a few of the popular angel investor firms in New York below: 8) New York Angels As put on their website, “New York Angels is a membership based group of accredited investors who are professionals, entrepreneurs, operators, and industry experts.” In addition, they share their investment criteria, “In the aggregate, the members of New York Angels invest between $100,000 to $1,500,000 per round in early stage companies. Our members are looking for companies that have an established proof of concept and are poised for growth.” Some of their most popular investments include: Bombas Pinterest Gust 9) 37 Angels As put on their website, “At 37 Angels, we are committed to: Education: Our goal is to shed light on the black box of startup investing for investors and founders through education. Transparency: 37 Angels has a process that’s built around clear and open communication for both founders and funders. Empathy: Many of our members are former entrepreneurs who understand the highs and lows of business-building.” 10) Pipeline Angels As put on their website, “Pipeline Angels is changing the face of angel investing and venture capital, as well as creating funding for trans women, cis women, nonbinary, two-spirit, agender, and gender-nonconforming founders.” Some of their most popular investments include: Apothecarry Cocomama GoldBean 11) Golden Seeds As put on their website, “We are a discerning group of investors, seeking and funding high-potential, women-led businesses. And creating lasting impact… Golden Seeds accepts applications from women-led companies domiciled in the U.S. These companies must have at least one woman in an operating role at the C-suite level. Frequently, companies have a female founder or CEO, but we also consider companies with women in other C-level positions.” 12) Empire Angels As put on their website, “Empire Angels is a diverse group of Millennials investing in early stage ventures with a focus on supporting young entrepreneurs.” Some of Empire Angels most popular investments include: The Infatuation Popsy App Socure Connect with investors for your startup with Visible At Visible, we oftentimes compare a fundraise to a B2B sales and marketing funnel. At the top of your funnel, you are finding new investors. In the middle, you are nurturing and pitching potential investors. At the bottom of the funnel, you are working through diligence and ideally closing new investors. Related Resource: A Quick Overview on VC Fund Structure With the introduction of data rooms, you can now manage every aspect of your fundraising funnel with Visible. Find investors at the top of your funnel with our free investor database, Visible Connect Track your conversations and move them through your funnel with our Fundraising CRM Share your pitch deck and monthly updates with potential investors Organize and share your most vital fundraising documents with data rooms Manage your fundraise from start to finish with Visible. Give it a free try for 14 days here.

Equity is a motivator for most early-stage founders, employees, investors, and other shareholders. Poor management of the cap table and dilution in the early days can be costly in the long run. Founders need to pick and choose when issuing additional shares and diluting themselves and existing shareholders. As always, we recommend consulting with a lawyer or legal team regarding your cap table and dilution. Learn more about share dilution and what it means for your business below: What is share dilution? As put by the team at Investopedia, “Share dilution is when a company issues additional stock, reducing the ownership proportion of a current shareholder. Shares can be diluted through conversion by holders of optionable securities, secondary offerings to raise additional capital, or offering new shares in exchange for acquisitions or services.” Primary types of share dilution The type of conversion or sale will impact the share dilution. This is typically boiled down to 2 major types of share dilution — primary and secondary share dilution. Learn more about each type of dilution below: Primary share dilution Primary share dilution happens when a company raises additional capital. Taking on new capital means that any existing shareholders will be diluted — as more financing capital comes in, the ownership % of existing owners will decrease. Secondary share dilution On the flip side is secondary share dilution. This happens when existing owners sell their shares to a new investor. The price at which the shares are sold impacts what the level of dilution will be. Reasons for share dilution Dilution when a company issues additional shares. This can happen in a number of different ways. Check out a few examples below: For financing options and capital needs The most common reason for share dilution is when raising capital, typically from venture capital funds. VC and Private Equity funds invest capital for equity. In turn this is issuing additional shares and diluting the existing shareholders on the captable. Related Resource: Private Equity vs Venture Capital: Critical Differences Employee stock options and equity compensation plans As put by the team at Investopedia, “The term employee stock option (ESO) refers to a type of equity compensation granted by companies to their employees and executives.” Whil an employee stock option plan offers individuals options in the business there are also equity compensation plans which offer equity directly in the business. Both of these instances will dilute your existing shareholders as additional shares are being issued. Related Resource: Employee Stock Options Guide for Startups To introduce new shareholders into the holdings There is also the introduction of new shareholders. This can be someone like an advisor or mentor that has gone above and beyond for your business. In the early days of a business, some founders will offer advisors equity instead of cash. Related Resource: Advisory Shares Explained: Empowering Entrepreneurs and Investors Impact of share dilution Many founders, early employees, investors, etc. are motivated by equity and the opportunity to grow the value of their shares. With this said, many founders need to pick and choose their spots when issuing additional shares to keep dilution in mind. Poor management of the cap table in the early days can be costly in the run. Erosion of ownership percentage and control As new shares are issued the ownership of existing owners will slowly erode. For many founders this can result in control and less impact on the overall direction of the business. Effect on earnings per share (EPS) and dividends For later stage companies, dilution can impact earning per shares and dividends. As more shares are issued, the earning per share goes down. Potential impact on stock price Related to the point above, as earnings per share go down with dilution this can potentially be less of a draw to investors and cause the stock price to lower. Strategies for avoiding share dilution As we mentioned above, founders need to pick and choose when issuing additional shares in their business. Avoiding dilution and maintaining ownership of the business can have huge impacts in the event of an exit or sale. As always, we recommend consulting with a legal team or counsel when determining different strategies regarding your cap table and dilution. Look at other financing alternatives Equity financing is the not the only financing option when it comes to raising capital for a startup. Over the last few years there has been an explosion in funding alternatives for startup founders. Ranging from debt to entirely new funding models. A few examples: Pipe Corl Clearbanc Calm Company Fund Related Resource: Checking Out Venture Capital Funding Alternatives Focus on generating internal cash flow for growth The best way to avoid dilution is by relying solely on your business to fuel growth and expansion (of course, this is easier said than done). When limiting the need for external capital, you’ll be able to maintain ownership of the business and would (potentially) only need to issue new shares when hiring new employees and executives. Create clear terms from the start Having clear terms from the start when fundraising will help model and project your dilution. By having a gameplan in place and a realistic view of dilution will help manage your cap table and issue new shares as needed as you raise capital and hire new talent. Limit excess funding with SAFEs Introduced by YC, SAFEs have taken over the startup funding world. As put by the team at Forbes, “A Simple Agreement for Future Equity (SAFE) is a contractual agreement between a startup company and its investors. It exchanges the investor’s investment for the right to preferred shares in the startup company when the company raises a future round of funding. The SAFE sets out conditions and parameters for when and how the capital will convert into equity. Unlike a convertible note, a SAFE does not accrue interest or have a maturity date.” However, both pre and post money SAFEs can have a different impact on the founder. We recommend consulting a lawyer or legal team when determining how to leverage different financial instruments for your business. Related resource: The Startup's Handbook to SAFE: Simplifying Future Equity Agreements Build strategic partnerships and alliances Strategic partnerships and alliances can be a valuable way to scale your business and avoid dilution. By having different partners and alliances you can grow your business and resist the need to raise additional equity financing and maintain ownership of your business. Looking for Investors? Try Visible Today! With Visible, you can manage every stage of your fundraising pipeline: Find investors at the top of your funnel with our free investor database, Visible Connect Track your conversations and move them through your funnel with our Fundraising CRM Share your pitch deck and monthly updates with potential investors Organize and share your most vital fundraising documents with data rooms Manage your fundraise from start to finish with Visible. Give it a free try for 14 days here.

For founders, finding the right VC to invest in their startup is crucial and a difficult task. With tens of thousands of VCs operating globally, investing in various industries, and at different stages, it can be overwhelming for founders to determine the best fit. In addition to finding a fit on basic parameters such as industry, check size, and round, founders are encouraged to get a better understanding of a VC’s reputation, investment style, and approach to working with startups, to help determine if the VC is a good fit for their startup. The Venture Capital Net Promoter Score (NPS) It’s common for businesses that have actual customers to gauge their level of satisfaction with the product or service by using a Net Promoter Score (NPS) survey. The purpose of the NPS is not only to determine customer satisfaction but also to assess the likelihood of a customer recommending the experience to others. The creation of the NPS in the venture capital industry was motivated by a desire to have a more comprehensive and customer-centric approach to evaluating the success of a VC firm. By incorporating feedback from the startups and entrepreneurs in its portfolio, the NPS helps to provide a more well-rounded picture of a VC firm’s success, beyond just its financial performance. The traditional metrics used to evaluate a VC firm’s success, such as the number and size of investments, the exit value of portfolio companies, and the overall financial return, provide valuable information about the financial performance of the firm. However, they do not provide insight into how the firm is perceived by the startups and entrepreneurs in its portfolio. You can create your own NPS system by discovering points of interest that directly measure the level of satisfaction other founders have experienced, along with the VCs stance on supporting its founders. This will give you the insight to help you identify how they approach working with their portfolio companies and how they are perceived by the entrepreneurs in their portfolios. Also, founders should consider their Investor Net Promoter Score for Startups. This is the percentage of your investors who would recommend you to potential customers, key hires, distribution partners, or follow on investors minus the percentage who wouldn’t. In theory, your Investor Net Promoter Score should be 100. Want to find out how to get there? Check out, How to Improve Your Investor NPS. Related resource: Top 12 Industry Events and Trade Shows for Food and Beverage Startups (2024 - 2025) VC Friendliness Evaluation Points of Reference Determining if a venture capitalist (VC) is founder-friendly can be challenging, as every founder has different needs and preferences. However, by doing some extra research, a founder can get a better understanding of a VC’s reputation, investment style, level of support and guidance provided to portfolio companies, and the level of alignment between the founder and the VC. These along with some of the following factors can help determine whether the given investor would make a good fit. Research the VC’s Reputation Start by researching the VC’s reputation and track record. Look for articles, blog posts, and social media posts that mention the VC and its investment style. Pay attention to the comments from founders and entrepreneurs who have received investments from the VC. Review the VC’s Portfolio Review the VC’s portfolio of companies and see if the founders of those companies have positive things to say about their experience working with the VC. This can give you an idea of the VC’s investment style and approach to working with startups. Ask for References Reach out to founders and entrepreneurs in the VC’s portfolio and ask for their perspective on working with the VC. This can give you a better understanding of the VC’s reputation and how they treat their portfolio companies. Meet with the VC in person Schedule a meeting with the VC to discuss your company and get a feel for their investment style and approach to working with startups. This can also give you an opportunity to see if there is a good personal chemistry between you and the VC. Consider the VC’s values and goals Look for a VC who shares similar values and goals with your company. This can include shared beliefs about the company’s mission, focus on sustainable business practices, or a similar approach to risk. Evaluate the VC’s support structure Consider the resources and support structure that the VC can provide, including access to potential customers, partners, and advisors. This can help you determine if the VC is able to provide valuable support to your company. Look at the VC’s communication style Look for a VC who has open and transparent communication and who responds promptly to questions and concerns. Good communication and transparency are key to building a positive relationship between a founder and a VC. Ultimately, the most important factor in determining the “friendliness” of a VC firm is the fit between the founder and the VC, so it is crucial for founders to do their due diligence and carefully evaluate their options before making a decision. Resources for Startups FoundersFeedback, gathers feedback from entrepreneurs through tailor-made surveys to help VCs improve their processes and relations with start-up founders. For VC’s investment, team, and company information Crunchbase, CB Insights, and Visible’s own Connect Investor Database. Y Combinator: What Founder Friendly Actually Means Resources for VCs Visible Guide: VC Portfolio Support Best Practices Visible Guide: [Webinar Recording] Building Scalable Portfolio Support Visible Guide: 5 Ways to Help your Portfolio Companies Find Talent Visible Guide: How to Plan a Top-Tier CEO Summit Visible’s Top Picks for Founder-Friendly VCs To help further guide founders in their search for investment, Visible has created Connect Investor Database to support our community of founders in their fundraising efforts. Check out the profiles for our top picks below or search the full Connect database here. Resources used for the list include the articles below, nominations from founders within the Visible network, and VCs who have proven their founder-friendliness claims. Newcomer: Founder’s Choice VC Rankings Revealed Inc: 184 Founder-Friendly Investors Forum Ventures “Since 2014, we’ve worked with 300+ SaaS founders. We know how to help founders build a sustainable business by acquiring customers and raising additional capital. Once we invest in a company, we walk hand in hand with founders as a fractional co-founder during this crucial part of their journey. This includes: Dedicated tactical sessions on: How to build their pitch deck Product market fit GTM and sales strategies / acquiring first customers etc. Mentor matching for 1:1 support A dedicated community team to help founders connect with strategic hires, professional networks/mentors and provide resources + almost anything else founders need to grow and scale (founders are part of this community long after they have finished our program!) No BS feedback (we truly care about the individuals who are part of our portfolio and we want to see them succeed. This means being open and honest with them. We want to both celebrate their wins and, more importantly, be a support system and their go-to-person during hiccups) By focusing on these areas with our founders, we’ve achieved an average fund-through-rate of 65% and NPS of 70.2.” – Maggie Bolt Marketing Manager at Forum Ventures Some great founder testimonials can be found here 🙂 Thesis: B2B SaaS; Future of Work, E-commerce enablement, Supply Chain & Logistics, Marketplace, Fintech, Healthcare. Location: New York City, San Francisco, and Toronto, United States Funding stage: Pre-Seed, Seed K50 Ventures “K50 Ventures offers a robust, peer-to-peer founder community to save founders time and money while making the founder journey less lonely. As early stage investors to over 170 companies, we understand the many challenges of building at the earliest stage, and offer strategic partnerships, workshops, resources and events that help our founders with everything from PR and brand to fundraising support, in addition to facilitating impactful and meaningful introductions.” – Jessica Spivack Lowenstein Head of Platform @K50 About: K50 Ventures is the most trusted first-check investor for mission-driven founders building a better future for the 99%. We invest up to $2M in pre-seed and seed-stage companies in the US and LATAM that are prioritizing access, affordability, and well-being across the categories of Health, Finance, and Work. K50 partners with those who refuse to accept the status quo; those who have a vision for how to radically improve daily life for everyone – in our local communities, and around the globe. Funding stage: Pre-Seed, Seed Colle Capital “The VC/Founder dynamic is fragile and peculiar; we are not coworkers and no one is anyone’s boss: we are partners and ideally friends. The best relationships between VCs and founders (and frankly between people generally) are built on a foundation of radical honesty, transparency and timely feedback. My founders come to me first with their problems because they trust I will do my utmost to help with urgency and without judgment. They also know that I’m always available just to talk and that I love celebrating the wins just as much as they do.” – Douglas Benowitz Principal at Colle Capital /// Nominated by Pulkit Jaiswal co-founder of Haystacks.AI About: Colle Capital is a data focused and opportunistic global technology venture fund. Location: New York, United States Funding stage: Seed, Series A Groove Capital “First and foremost, I’ve been a founder, so I can empathize. Some days are incredible, and many are confusing and full of doubt; so I try to go out of my way to acknowledge their courage. At the stage we invest it doesn’t make a lot of sense to be heavily involved. We are there to help where we can, and encourage them to develop a trust in their instincts. If they need someone to push back, we’ll push back. If they need to talk it out, we’ll listen. Our job is to help them be successful, so that my investors can be successful.” – Reed Robinson, Founder & Partner at Groove Capital Thesis: Groove Capital is where entrepreneurs in Minnesota go to get their first institutional investment. We partner with great teams, who have demonstrated an ability to execute, with some evidence of a defensible advantage, in a market that is compelling. Location: Minneapolis, Minnesota, United States Funding stage: Pre-Seed, Angel, Seed Bread and Butter Ventures “We promise to always be transparent and give our honest opinion with startups. To me that is founder friendly.” –Brett Brohl Managing Partner at Bread and Butter Ventures About: Bread and Butter Ventures is an early-stage venture capital firm based in Minnesota, the Bread and Butter State, investing globally while leveraging our state and region’s unparalleled access to strong corporate connections, commercial opportunities, and industry expertise for the benefit of our founders. Thesis: Investing in amazing founders, focusing on several core sectors of the economy: food/ag tech, health tech and enterprise SaaS Location: Minneapolis, Minnesota, United States Funding stage: Seed, Series A MS&AD Ventures “We love being ‘in the trenches with the founders. Our team consists of former operators, entrepreneurs, and industry experts and we bring it all to the table when supporting our founders. We are flexible with ownership requirements. We’re as active as possible but it’s up to the founders how much they want us to be involved. This includes board seats as well. We stay out of the way if they don’t need us.” – Tiffine Wang Partner at MS&AD Ventures About: MS&AD Ventures is an early stage global fund that invest in Insurtech, Fintech, Mobility, Digital Health, Enterprise and beyond. MS&AD has a footprint in over 50 different countries with strong presence in Japan and the ASEAN region. Location: Menlo Park, United States 11 Tribes Ventures “Our 2% commitment of capital to founder well-being/ resilience and our Venture Partner Platform exist to help our founding teams build exceptional businesses without burning out or cratering their personal lives.” Kristina Chapple Director at 11 Tribes Ventures Thesis: 11 Tribes Ventures is an early-stage venture fund that proactively invests in the well-being of entrepreneurs. The fund is radical in its allocation of resources to fund founder wellbeing, putting real dollars towards their mental, emotional, and spiritual health. They are proving that healthy founders will lead to healthy returns without compromising mission or profitability. Investment geography: Chicago, Illinois, United States Funding stage: Seed, Series A Antler About: Antler is a global startup generator and early-stage VC that is building the next big wave of tech. With the mission to turn exceptional individuals into great founders, Antler aims to create thousands of companies globally. Thesis: We identify and invest in exceptional people Investment geography: Agnostic (Global) Funding stage: Pre-Seed, Seed Venrock About: Venrock is a venture capital firm investing in technology and healthcare companies. Location: Palo Alto, California, United States Funding stage: Pre-Seed, Seed, Series A, Series B, Growth Greylock About: This venture capital firm invests in all stages, exclusively in consumer and enterprise software companies. It led the Series B round for both Facebook and Linkedin Location: Menlo Park, California, United States Funding stage: Pre-Seed, Seed, Series A, Series B, Growth First Round Capital About: This venture capital firm invests in all stages, exclusively in consumer and enterprise software companies. It led the Series B round for both Facebook and Linkedin Location: Menlo Park, California, United States Funding stage: Pre-Seed, Seed, Series A, Series B, Growth Insight Partners About: Insight Partners is the most trusted scale-up firm in the software industry. Thesis: We support companies in good times, as well as challenging ones. Location: New York, New York, United States Funding stage: Pre-Seed, Seed, Series A, Series B, Series C, Growth Privilège Ventures About: Privilège Ventures is a Swiss-based Venture Capital firm, authorized by the Swiss Financial Market Supervisory Authority (FINMA, www.finma.ch) as venture capital asset manager, investing in promising early-stage startups. With offices in Lugano, Zurich and Boston, we aim to support young founders on a mission to build the future. Our unique values derive from previous experiences as founders, entrepreneurs, operators and investors. We provide unceasing support, expertise, and valuable network access to help entrepreneurs forge ahead. Location: Switzerland Funding stage:Seed Founder Collective About: Founder Collective is a seed-stage venture capital firm that has invested in over 300 startups, including Uber, Airtable, PillPack, SeatGeek, The Trade Desk, Whoop, and Cruise. Founder Collective’s mission is to be the most aligned fund for founders at the seed stage. FC has offices in NYC and Cambridge, MA and has been the top-rated seed fund on the Forbes Midas list for four of the last five years. Thesis: Our mission is to be the most aligned fund for Founders at the seed stage. Location: Cambridge, Massachusetts, United States Funding stage: Seed Heron Rock “As a recovering entrepreneur, I am deeply empathic to the struggles and challenges that founders, especially first-time founders face. I play an active and engaged role in coaching and supporting each founder that I invest in and almost every single founder I’ve ever invested in can testify to the impact I’ve had on them.” – Tom Williams sole GP of Heron Rock Thesis: I invest as early as possible often before anyone else other than a single founder is in place Location: San Francisco, California, United States Funding stage: Pre-Seed, Accelerator Start Your Next Round with Visible We believe great outcomes happen when founders forge relationships with investors and potential investors. We created our Connect Investor Database to help you in the first step of this journey. Instead of wasting time trying to figure out investor fit and profile for their given stage and industry, we created filters allowing you to find VCs and accelerators who are looking to invest in companies like you. Check out all our investors here and filter as needed. After learning more about them with the profile information and resources given you can reach out to them with a tailored email. To help craft that first email check out 5 Strategies for Cold Emailing Potential Investors. After finding the right Investor you can create a personalized investor database with Visible. Combine qualified investors from Visible Connect with your own investor lists to share targeted Updates, decks, and dashboards. Start your free trial here. Related resources: The Future is Green: 15 Climate Tech Startups to Watch This Year 14 FinTech Startups Shaping the Future of Finance Top 18 Revolutionary EdTech Startups Redefining Education Top 15 Machine Learning Startups to Watch

VC Head of Platform shares advice on how to plan a founder-focused CEO summit. About Stephanie Rich Stephanie Rich is Head of Platform at Bread and Butter Ventures where she builds scalable networks, resources, tools and knowledge that help their portfolio companies succeed. She spends time working in the Twin Cities startup ecosystem and mentoring founders building in food/ag tech, digital health and enterprise saas. Before working in VC, she gained experience in early-stage marketing and building brands and communities. And she love dogs. You can find Stephanie on LinkedIn and Twitter. Why does your VC firm host CEO Summits and how many have you done? Stephanie: We did our first official Summit in the summer of 2023. We invest all over the country (actually the world!) so we wanted to host a Founders Summit to bring our portfolio together to build connections between founders as well as to meet our network in MN. Our goal for the event was to have everyone leave feeling inspired, motivated and armed with something new -whether a new contact, new resource or new skillset. Is there anything you wish you’d known/realized before your first CEO Summit? Stephanie: I wish I’d thought (and perhaps tested) the space we used a bit more. I’d recommend really thinking about how you’ll utilized Summit locations for big presentations, workshops but also for small moments for founders to connect in small groups. The space was still great, but I think it would have been even better if we’d approached it more thoughtfully. If you had to go back in time and try and convince your investment team to allocate a budget for a CEO summit, what points would you use? Stephanie: I’d focus on the benefits that our founders would get out of summit – connection, inspiration and motivation. Zoom is great but there’s something about getting people together in person that solidifies founder to founder and investor to founder relationships. Check out Visible’s Guide to Portfolio Support Best Practices Download the Guide What costs of a CEO Summit are typically covered by the firm vs founders? Stephanie: Depends primarily on two things – size of the firm and amount of sponsorship dollars raised. At the least, firms should plan to cover all activities and food throughout the event – if you have the budget for it we recommend covering (or at least subsidizing) accommodations and travel. What’s something you’ve tried at a summit that you’d never do again? Stephanie: We did basically all of the planning and prep in-house – it was fun but a ton of lift from our team. Next time I will probably work harder to figure out what different things we could partner on or hire someone to handle – especially when it comes to design and audio-visual skills. What’s something you’ve tried that you’ll make sure to always do in the future? Stephanie: We did a great session where we had one founder briefly interview another in front of the whole group – and we repeated this about 10 times. I was blown away by the amount of research founders did to prep for this – they asked each other insightful, thoughtful questions that really led to all attendees a great window into what each person is building, the journey they’ve taken, and the things they think about every day while running the company. It proved to be super inspirational and led to lots of connections afterward. Any tips to maximize the budget/value add ratio for coordinating a CEO Summit? Stephanie: Spend money on your high-value things – speakers, major dinners/experiences, location – and find ways to deliver on the details in a more budget conscious way. Also be creative when it comes to the city you host in. While there are certainly advantages to hosting in hot spots like San Francisco, New York or Miami, you can save a ton of budget by holding your summit in a city like Minneapolis where buying our restaurants, securing venues and paying for activities requires significantly less investment. Is it worth attempting a virtual summit these days or do you think it needs to be in person? Stephanie: Part of me completely understands the desire for a virtual summit – it’s so much more cost efficient but keep in mind you’re really missing out on the in-person connection and inspiration that make in-person summits so magical. I’d also say a virtual summit is only worth it with extremely stellar and useful content. Make sure you’re giving people a real reason to show up and be very cognizant of the length of event. Visible is founder-friendly portfolio monitoring and reporting for investors. Learn More

This article includes insights from a webinar Visible co-hosted with the corporate venture firm JLL Spark Global Ventures and Counter Club, a network of corporate venture capitalists brought together by common challenges and opportunities to share best practices. To learn more about Counter Club and watch the full webinar recording head to Counter Club’s registration page. Corporate Venture Capital Overview Corporate Venture Capital (CVC) is the practice of large firms investing in small early-stage startups and offering strategic value. They differ from traditional VC’s because they are not only motivated to make impressive returns for Limited Partners (LPs), but are also focused on protecting their corporate strategy and gaining a competitive advantage. The Limited Partner for a CVC is usually the singular firm which means the capital source is highly concentrated. The parent corporation is often heavily involved in the day-to-day of a corporate venture. CVC teams are expected to know what’s going on in their portfolio at all times and be ready to share insights and regular reporting with their corporate partner. What is Portfolio Monitoring? Portfolio Monitoring is taking a holistic approach to understanding what is going on with your portfolio. It can be thought of in three categories: Qualitative Updates, Financial Performance, and Operations Changes. Narrative Updates: Arguably the most important part is understanding the narrative behind changes going on with certain companies. For example, what’s going right for this company right now and what’s hard right now and why? Financial Performance: Other aspects of portfolio monitoring is understanding the financial performance of a company and oftentimes comparing that versus what was forecasted. You’ll want to be able to understand the current value of a companies key performance indicators but also extract insights such as quarter-over-quarter and year-over-year growth. Operational Changes: As a part of portfolio monitoring you’ll want to stay on top of any major operational changes a company undergoes. For example, major changes in total headcount or moving a company’s headquarter to a larger facility could explain the recent change in a company’s burn. Another operational change to monitor is when a company secures additional follow on investment or a change in their cap table. Learn more about using Visible to monitor your portfolio companies. Why is Portfolio Monitoring Important within the CVC Context? Insight into your portfolio companies is critical within the CVC context. By knowing what’s going on with your portfolio companies you’ll be able to provide more impactful, relevant support to your companies. You’ll also be able to gain the confidence of your corporate partner by demonstrating your ability to monitor, manage, and share insights about your portfolio companies. “Communication is the lifeblood of any relationship. If you’re delivering updates back to the corporate partner and they know exactly what’s going on, you’re more likely to continue to get funding and resources.” – Mike Preuss, CEO Visible Benefits of Portfolio Monitoring: Being able to share meaningful insights with your corporate partner Using data to drive future investment decisions Helping portfolio companies succeed Make introductions to talent, investors, customers Provide relevant sector-specific expertise Leverage intraportfolio knowledge to better understand technology trends Staying organized with a central source of truth Building more trust with the corporation “I think what’s really important is having a central source of truth for all of our data whether that be portfolio companies, how much we invested and what was the price, all the information around the deal. Having that in a central location for all the team to look up is really important.” – Mikey Kailis, Counterpart Ventures, Visible User Portfolio Monitoring Best Practices Oftentimes CVCs know they should be monitoring their portfolio companies but don’t know what best practices look like. Here are curated best practices based on Visible’s experience supporting over 400 investors. Ask for only 5-10 metrics and 1-2 qualitative questions Staying below 10 metrics reduces the time it takes founders to complete their reporting so they can get back to building their companies. Most Common Metrics to Track Revenue Cash Balance Monthly Net Burn* Cash Runway* Net Income Total Headcount *Both of these metrics can be calculated in Visible using formulas and don’t need to be requested. For more details check out ‘”Which metrics should I be tracking for my portfolio companies” Use Metric Descriptions Using metric descriptions helps with data accuracy and can reduce back and forth between you and your companies. Visible’s customer sucess team can help you establish the best descriptions to include with your metrics. Collect Data Quarterly According to Visible’s user activity, 70% of investors are requesting updates from their portfolio companies on a regular basis. By establishing a quarterly frequency with your companies you’re getting them into a rhythm of reporting expectations only 4 times a year. It’s also becoming more common to request ESG or DEI information on an annual basis. For more best practices such as high to get high response rates from companies check out ‘Portfolio Data Collection Tips from Visible’. Check out an Example Request in Visible. Providing Strategic Value to Portfolio Companies as a CVC Corporate VC’s are uniquely positioned to provide strategic value to their portfolio companies. CVC’s are often investing in sectors in which they have deep sector expertise, relevant networks, and commercial experience. All of this can be extremely valuable to companies but only if you know what is going on with your companies and have developed enough rapport for companies to share where they need help. By incorporating qualitative questions in your portfolio data Request in Visible such as ‘How can we specifically support you this quarter in terms of customer introductions, talent, or market expertise’, CVCs can unlock rich opportunities to deepen relationships with companies and provide strategic value. The two metrics JLL collects and reports back to corporate JLL to demonstrate strategic value add are ARR and the number of customers. “Visible helped us develop regular communication with our portfolio companies. It helps us understand where our portfolio companies are focused and how we can best align with them. Our investors also are able to look back at these updates to understand if companies are struggling at the moment and how we need to prioritize our support.” — Kelly Wong, JLL Spark CVC Portfolio Reporting You can share updates about your portfolio with your team and wider firm with Visible’s flexible dashboards, tear sheets, and LP Update features. Learn more. Interested in exploring Visible for your Corporate Venture Capital fund?

The biotech industry has always been an attractive sector for VCs to invest in, and 2023 is no different. With high potential for returns, a rapidly growing industry, and advances in technology, biotech is a favorable investment for VCs. One of the main reasons for this is the high potential for returns. Biotech companies that successfully develop and commercialize new therapies and medical devices can generate significant returns for investors. This is particularly true for companies that develop therapies for diseases with high unmet needs, such as cancer, rare genetic disorders, and chronic diseases. The biotech industry is also expected to grow significantly in the coming years, driven by advancements in genomics, stem cell research, and regenerative medicine. This presents a significant opportunity for investors to participate in the growth of this industry and benefit from its expansion. Advances in technology such as gene editing, AI, and digital health are also making it easier for biotech companies to develop new therapies and medical devices, which can improve their chances of success. Additionally, the growing interest in personalized medicine is also a favorable trend, as precision medicine is gaining more traction in the industry. This approach, which is based on the genetic makeup of each patient, has the potential to lead to more effective and efficient treatments for a wide range of diseases, including cancer and rare genetic disorders. Governments around the world are also investing in biotech research and development and are offering various incentives for biotech companies, which can help to reduce the financial risks for investors. The high demand for healthcare, driven by the increasing aging population and the growing burden of chronic diseases, is also driving the demand for new and more effective therapies and medical devices. Set up Your Biotech Company for Success Biotech startups have a lot to consider as they work to develop and commercialize new therapies and medical devices. There are several key steps that biotech startups can take to increase their chances of success. Identify unmet medical needs Successful biotech startups begin by identifying unmet medical needs in the market, and then developing products or therapies that directly address these needs. By doing so, they are able to differentiate themselves from competitors and demonstrate a clear value proposition to potential customers and investors. Build a strong team A strong management team with a diverse set of skills and experiences is crucial for biotech startups. This team should be able to lead the company through the complex and dynamic biotech landscape, and make strategic decisions that will help the company grow. Leverage technology Advances in technology such as gene editing, AI, and digital health are making it easier for biotech companies to develop new therapies and medical devices. Leveraging these cutting-edge technologies can give startups a competitive edge and improve their chances of success. Create a clear path to commercialization Developing a clear path to commercialization and having a strong business model in place are essential for biotech startups. This helps them to attract investment and partners, and to scale their business. Build partnerships Building strong partnerships with key stakeholders in the industry, such as pharmaceutical companies, academic institutions, and government organizations can provide access to resources, expertise, and networks that can help the startup to excel. Have strong regulatory compliance Successful biotech startups are aware of the regulations and compliance requirements in the biotech industry and they have the necessary processes and procedures in place to ensure compliance. This helps to avoid delays and ensure a smooth commercialization process. Adapt to market changes Successful biotech startups are agile and adaptable, and able to pivot their strategies and business models in response to market changes. This helps them to stay ahead of the curve and capitalize on new opportunities as they arise. Biotech Metrics to Include in Investor Updates Some specific metrics that biotech companies may include in their investor update include: Clinical trial progress: The number of patients enrolled in trials, the phase of the trial, and any regulatory milestones that have been achieved or are upcoming. Pipeline development: This includes compounds or products in development, as well as their potential for revenue or commercialization. Intellectual property: Patents filed or granted, as well as the strength and potential value of the company’s intellectual property portfolio. R&D expenses: The progress of research projects to investors. Scientific publications and presentations: Scientific publications or presentations in which the company or its scientists have participated, as well as the level of visibility and impact of these publications and presentations. Manufacturing and production: Updates on the progress of their manufacturing and production processes, including capacity and scalability. Product development: Status on the development of a product, including the progress of preclinical studies, clinical studies, and commercialization. Market size and potential for growth: The size of the target market for a product and its potential for growth, as well as the competition in the market. Regulatory: Progress of regulatory approvals and submissions, including FDA, EMA, and other regulatory authorities. Financial metrics: Such as revenue, operating costs, and burn rate. The management team and Board of Directors: Any changes or updates to the management team and Board of Directors. Partnerships and collaborations: New partnerships or collaborations that have been established or are in progress. Depending on the stage of the company, some of these metrics may not be applicable or relevant and will vary from company to company or industry. The Future of Biotechnology The biotech industry is expected to continue to grow and evolve in the coming years, driven by advancements in technology and research. Biotech startups that are able to stay ahead of the curve and capitalize on trends will be well-positioned for success in the future. A few of these key trends are Gene therapy, Regenerative medicine, Personalized medicine, Digital health, and Artificial Intelligence. Gene therapy is a promising new approach to treating genetic disorders and diseases by directly targeting the underlying genetic causes. Advances in gene editing technology, such as CRISPR, have made it possible to precisely target and repair disease-causing mutations, leading to the development of new gene therapies for a wide range of conditions. Regenerative medicine is the practice of using cells, tissues, and organs to repair or replace damaged or diseased parts of the body. This field is rapidly advancing, with new therapies being developed for conditions such as heart disease, diabetes, and spinal cord injuries. The use of precision medicine is gaining more traction, this approach which is based on the genetic makeup of each patient, has the potential to lead to more effective and efficient treatments for a wide range of diseases, including cancer and rare genetic disorders. The integration of digital technology into healthcare is increasingly becoming a reality, enabling real-time monitoring and data collection, which will help to improve treatment outcomes. Biotech companies are now investing in digital health solutions, including wearable devices, mobile apps, and telemedicine, to improve patient care. AI is becoming increasingly important in the biotech industry, with companies using machine learning and deep learning to analyze large amounts of data, including genetic data, to identify new drug targets and develop new therapies. VCs Main Focus Areas in Biotech Depending on the VC firm’s investment strategy and the portfolio the focus may vary but some general areas of interest include: Biotechnology: Startups working on developing new drugs, therapies, and diagnostics, as well as those working on advancing biotechnology platforms such as gene therapy, CRISPR, and synthetic biology. Medical Devices: Such as implantable devices, diagnostic tools, and digital health technologies. Digital Health: Telemedicine, virtual care, and remote monitoring technologies. Biotech IT: This includes startups working on developing new software and IT solutions to support the biotech industry, such as bioinformatics, computational biology, and data analytics. Biotech Services: Such as contract research and development, clinical trial management, and regulatory consulting. Biotech Agriculture: Startups working on developing new tools and technologies to improve crop yields, reduce waste, and improve food safety. Biotech Energy: New biofuels, renewable energy, and sustainable materials VCs Investing in Biotech Companies 8VC Location: San Francisco, California, United States About: 8VC aims to transform the technology infrastructure behind many industries. Investment Stages: Seed, Series A, Series B, Growth Recent Investments: Oula Anduril Loop Check out 8VC’s profile on our Connect Investor Database Arch Venture Partners Location: Chicago, Illinois, United States About: ARCH Venture Partners invests primarily in companies co-founded with leading scientists and entrepreneurs, concentrating on bringing to market innovations in information technology, life sciences, and physical sciences. ARCH currently manages five funds totaling over $700 million and has invested in the earliest venture capital rounds for more than 90 companies. ARCH investors include major corporations, financial institutions, and private investors. Investment Stages: Seed, Series A, Series B, Series C, Growth Recent Investments: Synchron FogPharma Treeline Biosciences Check out Arch Venture Partners’ profile on our Connect Investor Database 5AM Ventures Location: Menlo Park, California, United States About: 5AM Ventures is a California-based venture capital firm that aims to finance seed- and early-stage life sciences companies. Investment Stages: Series A, Series B, Growth Recent Investments: Escient Pharmaceuticals CAMP4 Therapeutics Dianthus Therapeutics Check out 5AM Ventures’ profile on our Connect Investor Database Atlas Venture Location: Cambridge, Massachusetts, United States About: Atlas Venture is the leading international early-stage venture capital firm, investing in communications, information technology and life sciences companies. Atlas Venture investments are evenly divided between the United States and Europe. Founded in 1980, Atlas Venture has organized six international funds, and currently manages more than $2.1 billion in committed capital. Investment Stages: Seed, Series A, Series B, Growth Recent Investments: Nimbus Therapeutics Be Biopharma Triana Biomedicines Check out Atlas Ventures’ profile on our Connect Investor Database Forum Ventures Location: New York City, San Francisco, and Toronto, United States Thesis: B2B SaaS; Future of Work, E-commerce enablement, Supply Chain & Logistics, Marketplace, Fintech, Healthcare Investment Stages: Pre-Seed, Seed Recent Investments: Sandbox Banking Tusk Logistics Vergo Check out Forum Ventures profile on our Connect Investor Database OrbiMed Location: New York City, United States About: We have been investing globally for over 20 years across the healthcare industry: from early-stage private companies to large multinational corporations. Our team of over 100 distinguished scientific, medical, investment, and other professionals manages over $17 billion across public and private company investments worldwide. Investment Stages: Series A, Series B, Series C Recent Investments: Pathalys Pharma Amolyt Pharma MBX Biosciences Check out OrbiMed’s profile on our Connect Investor Database Polaris Partners Location: Massachusetts, United States About: Polaris Partners ​has a 20+ year history of partnering with ​entrepreneurs and innovators improving the way we live and work. Investment Stages: Series A, Series B, Series C Recent Investments: Jnana Therapeutics FOLX Health CAMP4 Therapeutics Check out Polaris Partners’ profile on our Connect Investor Database Third Rock Ventures Location: Boston, Massachusetts, United States About: Telescope Partners is an active growth equity firm partnering with best in class entrepreneurs across the technology landscape. We invest ourselves and our capital in companies building long-term, sustainable businesses. Investment Stages: Series A, Series B Recent Investments: Corvia Medical Terremoto Biosciences MOMA Therapeutics Check out Third Rock Ventures’ profile on our Connect Investor Database Versant Ventures Location: San Francisco, California, United States About: Versant Ventures caters to the healthcare sector with early and later stage venture, private equity, and debt financing investments. Investment Stages: Pre-Seed, Seed, Series A, Series B, Growth Recent Investments: iECure Jnana Therapeutics Nested Therapeutics Check out Versant Ventures profile on our Connect Investor Database Sofinnova Partners Location: London, United Kingdom About: Sofinnova Partners is a venture capital firm that invests in the life sciences sector, from seed to later-stage. Thesis: We invest in people and science to create opportunity. We commit to long-term partnerships with entrepreneurs who are as passionate as we are about pushing the frontiers of innovation to contribute to a better future. Investment Stages: Seed, Series A, Series B, Series C, Growth Recent Investments: Amolyt Pharma Micropep Prometheus Materials Check out Sofinnova Partners’ profile on our Connect Investor Database F-Prime Capital Location: Cambridge, Massachusetts, United States About: F-Prime grew from one of America’s great entrepreneurial success stories. Fidelity Investments was founded in 1946 and grew from a single mutual fund into one of the largest asset management firms in the world, with over $2 trillion under management. For the last fifty years, our independent venture capital group has had the privilege of backing other great entrepreneurs as they built ground-breaking companies, including Atari, Ironwood Pharmaceuticals and MCI. Investment Stages: Seed, Series A, Series B Recent Investments: Neumora Therapeutics Elicidata Ashby Check out F-Prime Capital’s profile on our Connect Investor Database Start Your Next Round with Visible We believe great outcomes happen when founders forge relationships with investors and potential investors. We created our Connect Investor Database to help you in the first step of this journey. Instead of wasting time trying to figure out investor fit and profile for their given stage and industry, we created filters allowing you to find VCs and accelerators who are looking to invest in companies like you. Check out all our investors here and filter as needed. After learning more about them with the profile information and resources given you can reach out to them with a tailored email. To help craft that first email check out 5 Strategies for Cold Emailing Potential Investors. After finding the right Investor you can create a personalized investor database with Visible. Combine qualified investors from Visible Connect with your own investor lists to share targeted Updates, decks, and dashboards. Start your free trial here.

Data rooms are the culmination of a fundraise, diligence, or M&A event. They combine all of the documents, data, and resources that an investor will use to evaluate a company. In this webinar you’ll learn: The importance of a well-organized data room The must-haves for a pre-seed/seed stage data room When to share a data room Who should you share a data room with And more

Building a startup is difficult. On top of building products or services, hiring top talent, and acquiring customers, founders need to secure funding for their business. This oftentimes comes via customer revenue (bootstrapping), angel investors, venture capital, or debt financing. Related Resource: How to Find Investors For founders pursuing venture capital or equity financing, building a system or process around your raise can help speed up the process so you can spend more time on what matters most — building your business. Learn how you can create an investor pipeline for your next fundraise below: Tips for Improving Your Investor Pipeline At Visible, we compare a fundraising process to a traditional B2B sales process (more on this below). Just as a sales team has the tools and resources in place to help them sell, the same should be true for a founder fundraising. Learn more about building an investor pipeline for your next fundraise below: Treat fundraising like you treat sales At the end of the day, raising venture capital is selling equity in your business. You will need to have many conversations and share assets along the way to help improve your odds of raising (selling equity). As we mentioned above, we compare a fundraising process to a traditional B2B sales process. You can break down the similarities between the 2 below: Top of the funnel — At the top of your fundraising funnel you need to bring in “leads” (AKA qualified investors) for your business. Chances are a small % will go through to write a check so it is important to have a large list — this can come from cold outreach, inbound interest, or warm introductions. Middle of the funnel — In the middle of a fundraising funnel, you are working on moving investors toward the bottom of your funnel. This likely means the investor has some interest and you are actively pitching them or sharing different fundraising assets (investor updates, pitch decks, etc.). Bottom of the funnel — At the bottom of your fundraising funnel, you are working through due diligence with the goal of “closing” a new investor. This generally involves data rooms, reference calls, partner meetings, etc. Related Resource: 6 Helpful Networking Tips for Connecting With Investors Adjust your strategy according to your company As fundraising oftentimes mirrors a sales process, it is important to make sure that you are targeting the right investors (AKA qualified leads). When building a list and targeting investors, it is important to look at the fields and characteristics that matter most to your business. A few suggestions for characteristics to consider: Location/Geography Industry Focus Stage Focus Current Portfolio Motivators Deal Velocity Related Resource: Building Your Ideal Investor Persona Filter and find the right investors for your business with our free investor database, Visible Connect. Give it a free try here. Solidify your fundraising goal Going into a fundraise it is important to have goals in mind. This will help you frame different conversations and your pitch. For example, if you are going to raise $1M, what are your goals and how are you going to spend the capital? It can also be broken down into goals for your actually fundraising process. For example, how many investors do you want to email a week? How many investor meetings do you want in a week? Etc. Go big Investing in startups is a risky investment. Most investors are incentivized to take their time with the process and will only invest in a handful of companies in a given year. In order to help make sure you maintain momentum in your fundraise, it is important that you have a solid number of investors at the top of your funnel to reach out to over the course of a raise. Between our own data and data from famous investors, we have found that most founders should expect to communicate with 50+ investors over the course of a raise. Check it out below: Step-by-Step Guide for Building Your Investor Pipeline If you are ready to build a pipeline for next fundraise, check out our quick steps and tips below. Related Resource: 9 Tips for Effective Investor Networking 1) Create a list of potential investors As we mentioned above, it is important for founders to have a healthy list of investors. We recommend starting with a list of 50 investors and scaling up from there if needed. It is important to consider the characteristics you are looking for in an investor and use free tools (like Visible Connect) to help you find those investors. Related Resource: How Startups Can Use an Investor Matching Tool to Secure Funding 2) Upload your list to your pipeline Compile your list of investors in a spreadsheet (or dedicated tool like Visible). You can upload this list to Visible to start tracking your pipeline and fundraising stages. For example, when you upload your investors, they will all likely be in a “Researching” stage. As you start to reach out to investors and have conversations, you can move them further down your funnel. Check out an example of a Visible Pipeline here. Related Resource: Tailoring Your Fundraising Efforts 3) Use tools to research investors in the pipeline Once you have an initial list of potential investors in place, it is important to do your research. To start, find the person at the firm that you would like to reach out to and see if have any mutual connections. A warm introduction is always ideal, but don’t be afraid to reach out cold if an investor is a good fit (more on this below). It is also worth doing further research on the actual firm. Double-check that you are a fit for their fund and there are no competitors of yours in their portfolio already. Related Resource: How to Write the Perfect Investment Memo 4) Create an introduction email Once you have done your research, it is time to start reaching out to potential investors. As we mentioned above, warm introductions are generally preferred. If you are seeking a warm introduction, make sure you are making it as easy as possible as the person making an introduction (always double opt-in). The introduction email should include a brief introduction of your company, any major milestones or metrics, and why they are a good fit. On the flip side, cold email works as well. To learn more about cold emailing potential investors, check out our post below: Related Resource: 3 Tips for Cold Emailing Potential Investors + Outreach Email Template 5) Track and monitor your pipeline communication As you will be balancing many conversations, it is important to have a place to track and monitor ongoing conversations. This can be helpful when determining what investors you need to spend time on and setting up a rhythm for follow-ups. With Visible, you can track conversations from outside of Visible, send investor Updates, and share your pitch deck so you can fully understand how investors are engaging with your fundraising materials. Fund Your Startup With Visible With Visible, you can manage every stage of your fundraising pipeline: Find investors at the top of your funnel with our free investor database, Visible Connect Track your conversations and move them through your funnel with our Fundraising CRM Share your pitch deck and monthly updates with potential investors Organize and share your most vital fundraising documents with data rooms Manage your fundraise from start to finish with Visible. Give it a free try for 14 days here.

Emerging Managers are often underserved and overlooked in the VC industry. However, the success of Emerging Fund Managers is widely considered the most promising way to improve the future of VC in terms of increasing returns, fueling innovation, and improving diversity. Visible invited Recast Capital to deliver content on fundraising best practices for Emerging Fund Managers looking to raise their first, second, or third fund. Sara Zulkosky has experienced every facet of Venture Capital from deal sourcing and managing investments, working as an LP at Greenspring Associates, graduating from the Kauffman Fellow program, and most recently co-founding and managing Recast Capital — a 100% women-owned platform investing in and supporting emerging managers in venture. Sara walked us through fundraising best practices for Emerging Fund Managers and answered key questions like: How to find Limited Partners How to keep track of and nurture relationships with LPs Which questions to ask LPs during a first meeting Learn more about Visible’s Emerging Manager Fundraising Toolkit.

Building a startup is difficult. On top of building a fundable business, hiring top talent, and acquiring customers — founders need to secure funding for their business. For founders looking for equity financing, one of the first places to look is angel investors or venture capitalists. Local angel investors can be a great source for kicking off a fundraise. While the typical angel check tends to be smaller than a vc fund, an angel check can be a great way to build momentum and start filling in your round. If you’re a founder located in Los Angeles or Southern California, check out our list of 10 angel investors in the area below: Where can I find angel investors in Los Angeles? Angel investors can be anyone around you. While there are noteworthy angels (like the ones listed below), just about any high net worth individual can be an angel investor. Elizabeth Yin of Hustle Fund is a huge believer in small checks and pitched everyone around her — doctors, optometrists, dentists, etc. Related Resource: 7 Tips for Raising a Friends & Family Round Of course, if you’re looking for “traditional” angel investors you can use networking, events, social media, and online databases to find the right investors for your company. Learn more about finding and pitching angel investors for your startup below: Related Resource: How to Effectively Find + Secure Angel Investors for Your Startup Clark Landry Clark Landry is an entrepreneur and investor based in Los Angeles and Nashville. Clark spent time as an entrepreneur and founded his own startups. Since then, he has started to invest in startups — 120+ investments to date. Industry – Agnostic with a focus on software businesses Notable Startups Funded – a few of Clark’s investment exits can be found below (check out the rest on his LinkedIn) The Trade Desk (in at $16M, NASDAQ IPO, ~$40B market cap) EdgeCast Networks (acquired by Verizon, $390M) Adconion (acquired by SingTel, $235M) Top Level Domain Holdings (IPO on the LSE AIM) Traffic Marketplace (acquired by Vivendi) Funding stage – seed stage Jim Brandt Jim Brandt is an angel investor based in Southern California. Jim is involved with Tech Coast Angels, an angel group in Southern California. Check out what TCA looks for in investments below: Industry: Software and life sciences are the most popular industries for TCA. Check out the industry breakdown for TCA below: Notable Startups Funded – TCA has made 450+ investments. Some of their recent exits can be found below: Procore Technologies (IPO at 368x) Doctible (8x) Findox (6x) Cognition Therapeutics (IPO at 6x) Discover Echo (5x) Rosie O’Neill Rosie O’Neill founded Sugarfina. Since founding Sugarfina, Rosie has turned to angel investing and launching her own fund, Pure Imagination Brands. Industry – Agnostic Notable Startups Funded – 50+ investments, check out a few recent investments below: Abbot’s Butcher The Bouqs Co Thrive Market Funding stage – early stage Related Resource: VCs Investing In Food & Bev Startups Mark Mullen Mark Mullen is an angel investor and the founder of Bonfire Ventures. Prior to his career in angel and venture investing, Mark spent his career at RBC Capital Markets. Learn more about Mark and his investment criteria below: Industry – Agnostic Notable Startups Funded: ChowNow AdStage Bitium Funding stage – Early stage Richard Wolpert Richard Wolpert is a 4x startup founder and has since turned to angel investing. Currently, Richard is a venture partner at Acrew. Learn more about Richard and his investing criteria below: Industry – Agnostic Notable Startups Funded: Carta NestEgg Mob.ly Funding stage – Seed Matt Mazzeo Matthew Mazzeo is an angel investor and currently the General Partner at Coatue Management. Learn more about Matt and his investment criteria below: Industry – Technology, Media Notable Startups Funded: Airtable Loom Slack Funding stage – Seed and beyond Anthony Saleh Anthony Saleh is an angel investor and General Partner at WndrCo. At WndrCo, Anthony is responsible for their seed stage investments. Learn more about Anthony and his investment criteria below: Industry – Media and Entertainment, Future of Work, Cybersecurity Notable Startups Funded Robinhood OpenSea AirTable Funding stage – Seed Tom McInerney Tom McInerney is an active angel investor. Learn more about Tom and his angel investing criteria below: Industry – Agnostic Notable Startups Funded: Notion Segment Bird Funding stage – Seed/Series A Ashton Kutcher Ashton Kutcher (no introduction needed) has turned to angel investing. In addition to angel investing, Ashton has also started Sound Ventures. Learn more about Ashton and his investment criteria below: Industry – Technology Notable Startups Funded Airbnb Uber Airtable Funding stage – Seed/Series A Related Resource: 15+ VCs Investing in the Future of Work Connect with Angel Investors in Los Angeles with Visible Finding the right investors for your business is only half the battle. With Visible, you can… Find the right investors for your startup with Visible Connect, our free investor database Manage and track the status of your raise with our Fundraising CRM Upload and share your pitch deck with investors in your pipeline Build and share your data room directly from Visible when working through due diligence and the final stages of your raise. Manage every aspect of your raise all from one platform. Give Visible a free try for 14 days here.

With uncertainty in the VC industry, LPs are being more cautious and scrutinous than in previous years. Meanwhile, LP teams are often understaffed meaning they lack the bandwidth to spend time doing due diligence on the growing number of VC funds. What does this mean for you as you kick off your next fundraise? You need to make it as easy as possible for LPs to understand, analyze, and build conviction about you and your fund. A well-structured, thoughtful data room plays a major role in streamlining the VC fund diligence process. This article highlights how to build a data room LPs will get excited about. What is a Data Room for LPs? A Data Room is a repository comprised of folders, files, and pages created by potential fund managers to give their potential investors access to sensitive information about their team, fund, and track record. LPs use this to ensure a fund meets their own investment criteria. It’s in part a marketing tool, in part a legal requirement, and altogether a critical step in being able to raise capital from Limited Partners. Learn more about Visible's fundraising tools for emerging managers. When do I need to Create a Data Room for LPs? You should start preparing your data room a month or two before officially kicking off your fundraise. At a minimum, you have a solid pitch deck in place and should be familiarizing yourself with an LP data room file checklist to start forming a plan around what content you’re going to need to get in order. Download Visible’s LP Data Room Checklist to start preparing your Data Room. What you need to avoid is having an LP ask for access to your data room and scrambling at the last second to put something together. That’s not the first impression you want to give when you’re trying to get someone to trust you with their money. LP Data Room Pro Tips Include excel files instead of PDFs wherever relevant. Analysts at Limited Partners organizations are going to be extracting and analyzing any data you give them so share it in excel format to make it easier on them. Every LP is different so be prepared to share different Data Room views with different people. Share your initial Data Room with a few LPs you trust and get feedback and then update as needed. Consider sharing a table of contents first, and then asking what an LP needs access to, to save LPs from wasting time digging through all your folders to find what they need. Always keep your founders’ privacy in mind when including information on portfolio companies. Investors have limited bandwidth to spend on diligence. Focus on the quality, not the quantity, of the documents in your data room. What should be included in my Data Room for LPs? We’ve broken down our list below into two sections: Initial Interest Data Room which includes the information you’d want to share with LPs who are just getting familiar with your fund. In-Depth Data Room which includes more sensitive information that you’d want to share only when LPs have expressed serious interest in your fund. Initial Interest Data Room for LPs Cover Letter A cover letter is a great way to add a personal touch to your data room (remember LPs are looking at hundreds of other data rooms) and should include high-level information about the GP and the fund. Your cover letter can answer questions like why you’re starting this fund, why you’re uniquely qualified, and your contact information. Table of Contents Including a table of contents is a great way to quickly help investors navigate to the right place to help them find what they need. Consider making your Cover Letter and Table of Contents public to pique the interest of LPs but make sure the rest of the folders are viewable only upon request. Pitch Deck Your pitch deck, especially if you’re an emerging manager, needs to shine. It is the main qualitative piece of content that LPs will use to vet your fund. If your deck doesn’t resonate or intruige an LP, they may immediately pass on viewing the rest of your data room. The average fund deck is 15-20 pages in length and explains: Your Team — Who is on your team and what relevant experience do they bring. Sourcing Strategy — How are you uniquely positioned to find and attract deal flow. Competitive Advantage — Why will founders choose your fund? What’s your value add? Investment Focus — What are you investing in? Why do you know this market, sector better than anyone else? Track Record — How have previous angel, personal, and private capital investments performed? Fund Structure — What is the size of the fund, stage of investments, and the number of investments. Network — Who is in your corner? Who have you collaborated with that could vouch for you? Appendix — Additional materials for commonly asked questions. The list above is inspired by Signature Block’s post on VC Fund Decks that Close LPs. Investment Process How are you going to find, attract, diligence, invest in, and support deals that are expected to yield a 10x+ return? In this folder of your Data Room, compile content that demonstrates an understanding of your investment sector, market, how you will evaluate risk, and your decision-making framework. Team Don’t skimp out on this section by just including resumes. Especially if this is your first fund, you need to paint a compelling picture that answers ‘Why YOU?’. What special experience and skills does your team exhibit? Why should an LP trust you with their capital and also want to engage with you on a regular basis for the next 10 years? Newsletters or Monthly Updates Your ability to communicate matters. LPs are investing not only for returns but also for insights. Are you able to analyze market trends, draw your own insights, and share them with stakeholders? Excellent! Include examples in this section. Visible lets investors embed Updates directly into their Data Rooms. Fund Model This should be an Excel file forecast of your investment strategy in practice. It is critical to get the math in your model correct. Incorrect calculations in your model signal a poor understanding of VC fund management that will be hard to recover from. Your fund model should include your fund size, average check size, management fees, carry, reserve for follow-on, average valuation, target ownership, etc, as it relates to your IRR goals. To better understand portfolio construction at a high level check out this post. Be sure to share your model in Excel, not PDF. LPs are going to use this file to stress test your model based on different assumptions. Track Record This should be an Excel file spreadsheet detailing your previous investments as well as a roll-up summary. The column headers should include the Company Name, Initial Investment Date, Initial Stage, Current Ownership, Realized Capital, Fair Market Value, Multiple of Capital, and IRR. Ready to take the next steps with Visible? If you’re raising your first fund and don’t have a fund track record, include examples of angel investments, SPVs, or personal investments. Be sure to specify how you found the deal and your specific involvement. Read more about sharing your track record as an Emerging Manager. Due Diligence Questionnaire (DDQ) Think of this as a standardized FAQ that LPs will use to easily understand and compare your fund against other funds. This should be a living document and updated over time as you engage with different types of LPs. No need to recreate the wheel for your DDQ. The Institutional Limited Partners Association (ILPA) has put together a standard template found here. This concludes what should be in your ‘Initial Interest Data Room’. Keep reading to get a better idea of what LPs ask for once you’ve passed the initial stages of their diligence. In-Depth Data Room for LPs The content below is usually only shared when LPs are conducting more in-depth diligence on a fund. It’s not best practice to share these files from the start (unless asked) because investors only have limited attention and bandwidth. In-Depth Data Room Content: References Sample Term Sheet Details on Portfolio Companies Case Studies Limited Partnership Agreement If you’re on your 2+ fund you may also be required to show the following: Previous Investment Memos Audited Tax Returns ESG Policy Conclusion Creating a well-organized Data Room is an important step toward making a good impression on LPs during your fundraising process. Preparing your Data Room in advance will help you stand out in today’s competitive VC fundraising environment. Interested in learning about Data Rooms for VC’s?

Raising capital for a business is hard. On top of building a fundable business, you need to find the right investors for your business. One of the aspects founders will look to first in an investor is their location. Some investors (VCs and angel investors) will invest based on a company’s location. Finding a list of investors in your area can be a great way to start building a fundraising list (of course you’ll want to make sure the investor fits your other criteria too). Related Resource: Venture Capitalist vs. Angel Investor If you are a startup based in Miami or the surrounding area, check out the list of angel investors in the area below: 1. Gold Coast Angel Investors As put by the team at Gold Coast Angel Investors, “Gold Coast Angel Investors is an early-stage investment group based in Miami, FL. We enjoy the process of mentoring and helping aspiring entrepreneurs while pursuing maximized returns… If you’re a business that is ready to pitch to our angels, see more information about getting funding. We try to target South Florida for our investments but look for the best deal possible for our members, whether in Miami, Manhattan, or Menlo Park, CA.” A bit more research on the Gold Coast Angel Investors site and you’ll find that when evaluating a company’s stage and industry, they’ll look for the following (visit the link directly here): 2. Black Angels Miami As put by the team at Black Angels Miami, “We are connecting amazing members/investors and founders. Opening the door to the technology startups eco-system. Enabling access to top-notch investment opportunities across the country. Changing the landscape of venture investing by leveraging the value of diversity. BAM believes diverse perspectives improve investment outcomes. With this in mind, we intend to recruit members of all races, creeds, and orientations while proactively increasing participation by Black investors.” Black Angels Miami does not make direct investment into companies but can make introductions to investors that are fit for your company. You can check out a few of the things they look for in potential candidates below (direct link here): 3. Miami Angels As put by the team at Miami Angels, “Our group is comprised of over 150 angel investors, many of whom have been entrepreneurs themselves. Beyond providing capital, we collaborate with our founders to ensure they have access to talent and future funding… Miami Angels’ broad and diverse membership base allows us to invest across multiple industry sectors at the post-launch Seed Stage. We look at companies where our expertise can have a real impact. We invest in US-based, post-launch SaaS-enabled companies.” You can learn more about what Miami Angels looks for in an investment by using their investment criteria doc: 4. New World Angels As put by the team at New World Angels, “New World Angels is a group of Florida business leaders who provide funding, knowledge, and guidance to entrepreneurs building early-stage companies. We seek entrepreneurs from diverse backgrounds and cultures. We seek to fund entrepreneurs and products that can create real impact in marketplaces and across our society.” New World Angels allows you to apply for investment directly on their website. Before starting your application, you’ll want to make sure that you are fit for them. They lay out criteria below (or direct link here): “New World Angel investors focus on early-stage companies, usually in Florida, that are seeking their first or second major outside investment. We typically make investments ranging from $250K through $2 Million. We can lead larger investment rounds in syndication with other investment firms. We typically focus on companies with valuations under $20MM.” 5. Access Silicon Valley Miami As put by the team at Access Silicon Valley, “Access Silicon Valley is the “virtual bridge” to Silicon Valley, where startup entrepreneurs and serial entrepreneurs in real-time, get access to relevant content, and have the opportunity to interact with, angels, VCs and great entrepreneurs that they otherwise wouldn’t get the opportunity to see, hear or possibly connect with. In addition, we have put together valuable workshops to prepare startup entrepreneurs for the roller coaster ride of the startup world! We encourage you to join us.” Access Silicon Valley does not make direct investment but they host virtual events and offer resources to help entrepreneurs find investors and angel investors in their community. Related Resource: How to Effectively Find + Secure Angel Investors for Your Startup 6. Florida Funders As put by the team at Florida Funders, “Florida Funders is a hybrid between a venture capital fund and an angel investor network that discovers, funds and builds early-stage technology companies in Florida. We exist to evolve Florida from the Sunshine State to the Startup State by ensuring there is as little friction as possible in the ecosystem, that investors have access to meaningful deal flow and entrepreneurs have access to a wide range of accredited investors.” Florida Funders has a thorough list of criteria, FAQ, and information for founders looking for investment (direct link here). You can check out their general criteria below: Visible Helps You Connect With Angel Investors in Miami Finding the right investors for your business is only half the battle. 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