Traction
Best Practices for Raising Your Seed & Series A with Patrick Lor, Panache Ventures
Mar 16, 2022
In this discussion, Patrick Lor, Managing Partner at Panache Ventures and co-founder of iStock Photo, shares valuable insights on navigating startup funding. He emphasizes the importance of storytelling and relationship-building with investors. Patrick also tackles how founders should approach fundraising, retain ownership, and provide value to VCs. He reflects on his journey, the impact of resilient leadership, and lessons learned from both successes and failures in his career. A must-listen for aspiring entrepreneurs!
52:54
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Quick takeaways
- The mental well-being of founders significantly impacts their startup's performance, emphasizing the need for VCs to consider emotional health in funding decisions.
- Building strong relationships and a reliable network prior to fundraising enhances a founder's chances of successfully securing investment through trusted introductions.
Deep dives
The Importance of Mental Well-Being for Founders
The mental state of founders plays a crucial role in the performance of their companies, particularly in small startups. When founders experience stress or struggle, it typically reflects in their company's performance. Investors who inquire about the emotional and mental well-being of founders demonstrate a deeper understanding of this relationship. By addressing the emotional aspect, VCs can foster a supportive environment that contributes to the overall success of the startup.
