The financial realities of securing venture capital funding amidst the COVID-19 pandemic challenges.
This article discusses the impact of the novel coronavirus on fundraising for startups. Here are some key points:
- Fundraising challenges: The pandemic has added ambiguity to the future of many startups, making fundraising more challenging.
- Maintaining momentum: Founders must focus on identifying proactive investors who seem sincere in committing to their startup despite the global macro environment.
- Virtual meetings: Raising funds post-seed is nearly impossible virtually, and founders need to meet with potential investors in person to maintain momentum.
- Identifying serious investors: Founders should cut down on contacts with investors who only want to discuss via phone or email, and focus on those willing to commit despite the pandemic.
- Ambiguity is a constant: Founders are accustomed to navigating ambiguity every day, and this issue is no different.
- Get creative: Connect with new people through online means, such as webinars, Zoom calls, or social media, while keeping capital husbanding in mind.
The article concludes that fundraising during the pandemic requires a mix of adaptability, creativity, and persistence.
