Peter Pham, co-founder of Science, shares valuable insights on fundraising, timing, materials, creating bidding wars, and upward growth charts. They discuss marketing, product quality, and securing capital for billion-dollar businesses. The journey of Liquid Death, a canned water startup, is explored, along with building a cult-like following and creating emotional connection. Creating urgency through progress, velocity, and the importance of dilution percentages in startup investments are also discussed.
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Quick takeaways
Tailor pitches to individual investors, showing understanding of their interests and aligning the pitch accordingly.
Emphasize concise and impactful pitches, using storytelling and simplicity, while leveraging FOMO to drive deal closures.
Deep dives
Arc of Fundraising for Startups
In this podcast episode, Peter Pham, the co-founder and managing director of Science, discusses the arc of fundraising for founders with startups. He covers topics such as what materials to use, the timing and process for fundraising, creating bidding wars, and the importance of up and to the right charts. Peter shares valuable insights based on his experience at Science, which has incubated successful companies like Dollar Shave Club and Liquid Death.
Key Factors in Successful Fundraising
Peter Pham emphasizes the significance of storytelling and belief in fundraising for startups. He advises founders to focus on the moat, or the unique advantage of their company, when pitching investors. Peter also emphasizes the importance of doing thorough due diligence on potential investors and checking references. Additionally, he encourages founders to tailor their pitches to individual investors, showing a deep understanding of their interests and aligning the pitch accordingly.
The Art of Pitching and Closing Deals
Peter Pham highlights the importance of concise and impactful pitches, with a focus on storytelling and simplicity. He shares insights on optimizing pitch decks by reducing word count and using visuals to emphasize growth and success metrics. Peter advises founders to manage the fundraising timeline strategically, creating collective pressure among investors and leveraging FOMO (fear of missing out) to drive deal closures. He also reminds founders to prioritize the quality and alignment of investors over optimizing for the highest valuation.
Finding Success in a Competitive Landscape
Peter Pham acknowledges the competitive nature of industries and emphasizes the need for a strong moat to differentiate a startup. He advises founders to identify and highlight the unique value proposition that sets their company apart. Peter also stresses the significance of continuous innovation and adapting to market trends. He shares the importance of seizing opportunities and capitalizing on cultural insights to appeal to target audiences. Lastly, Peter underscores the value of resilience and building a supportive investor team that aligns with the long-term vision of the company.
Peter Pham is the co-founder & managing director of Science, an incubator based in Los Angeles. This conversation was recorded at the BUILD Summit in New York. In this conversation, we talk about the art of fundraising for founders with startups, materials to use, timing & process, how to create a bidding war, and why up & to the right charts are so important. Peter is one of the best fundraisers I have ever met, and he drops insanely valuable information in this episode.
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