Equity Build Mode: Capital is a commodity (but your investor relationships aren’t)
34 snips
Jan 21, 2026 
Leslie Feinzeig, founder of Graham & Walker Ventures, has a rich background empowering female founders, while Ross Vivini leads XYZ Ventures focusing on early-stage investments. They discuss the challenges of raising first funds and the importance of authentic investor-founder relationships. Leslie shares insights from building a founder community during COVID, while Ross highlights the uniqueness of his fund in guiding next rounds. They stress that relationships, not just capital, differentiate VCs in a noise-filled market, with practical advice for founders on evaluating investors.
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Be Ruthless About Qualification
- Ruthlessly qualify potential LPs early to avoid wasting time on mismatched leads.
- Learn to recognize in two minutes if an LP wants what you offer and stop trying to convince the uninterested.
Raised First Fund Over Zoom
- Leslie raised her first fund mostly from individuals and sat on Zoom with a baby on her lap during COVID.
- She treated the raise like a giant angel round and learned by doing to prove she could be a VC.
Master Your Fund Narrative
- Build a crisp, repeatable story and master telling it without relying on slides.
- Make your deck hook strong and know the narrative so you can start anywhere in the pitch.