Rob Gelb is a serial startup founder and advisor. He’s built SaaS, consumer social, and media/entertainment companies for the last 10 years.
Most recently he led HeySummit from 0-$1m+ in ARR in less than 14 months. Aside from launching his next company, he’s an advisor to early stage startups and founders, and is a Visiting Fellow at the University of St Andrews Centre for Entrepreneurship.
What you’ll learn in this video:
– How VC funds actually work
– How to prepare for your first VC meeting
– How to find investors
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TIME STAMPS
00:00 Start
00:03 Introduction
00:49 Red flags that founders should look out for when raising capital
07:04 Where Rob learns about raising capital
14:04 How do VC funds actually work?
23:57 Going from VC to Bootstrapped
25:43 Fundraising environment at the moment
29:54 What does “traction” mean to an investor
32:20 Do investors look at potential or actual revenue
37:18 What questions should you ask in your first VC meeting
43:58 How many meetings should you have
47:46 How much equity should you expect to give up each time you raise capital?
48:33 Common mistakes that SaaS founders make when raising capital?
52:46 How a bad deal at an angel round can hinder future capital raising efforts
55:20 How to find investors
55:44 Secret hacks to help you get more favourable terms
59:26 How to get in touch with Rob