Timestamps:

2:06 - What mistakes do Swiss startups make repeatedly when it comes to funding for growth?

11:43 - How to find investors

24:06 - Turning down a $ 10 million investment offer

30:47 - How to go about evaluation

40:50 - When to start the fundraising process

The Episode In 60 Seconds

The four phases of fundraising.

Phase 1: Preparation

Start preparations either in early September or in January, as to not hit the VCs’ winter or summer break.
Don’t waste your time talking to VCs which aren’t adequate for the round you are trying to raise anyway.
Use personal introductions wherever you can.

Phase 2: Pitching

Do a first screening call to gauge the general fit of the VC for your business and round.
The goal of your pitching is to get a term sheet, which equals an offer to invest from a VC.

Phase 3: Negotiating Term Sheets

Once you have (hopefully) collected a few term sheets, it’s time to evaluate and negotiate on the different offers.
When choosing an investor, the cultural fit should not be underestimated. Don’t be afraid to get references on the VC from other ventures he/she has previously invested in.
Don’t obsess too much over valuation. It is not an exact science.

Phase 4: Due Diligence

Once you have decided to go with an offer, the investor will perform his due diligence on your business to make sure your books are in order.

EP #46 - Cris Grossmann: Fundraising For Growth