Fundraising
Fundraising strategy, investor targeting, term sheet analysis, and SAFE/convertible note structures.
Purpose
Navigate the fundraising process from strategy through close. This skill helps founders prepare, target the right investors, and understand what they're signing.
Workflow
Step 1: Fundraising Readiness Assessment
- •Do you need to raise? (Bootstrap vs. raise decision)
- •What stage are you? (Pre-seed, seed, Series A)
- •What milestones have you hit?
- •What milestones do you need this capital to reach?
Step 2: Strategy
- •How much to raise (18 months of runway rule of thumb)
- •Valuation expectations and comps
- •Instrument: SAFE, convertible note, priced round
- •Timeline: 3-6 months typical
Step 3: Investor Targeting
Criteria for a good fit:
- •Stage alignment (don't pitch Series B funds at seed)
- •Sector/industry focus
- •Check size compatibility
- •Portfolio synergies (not conflicts)
- •Value-add beyond capital
Step 4: Materials Preparation
- •Pitch deck (link to pitch-deck skill)
- •Financial model (link to financial-modeling skill)
- •Data room: cap table, incorporation docs, key metrics
- •One-pager / teaser for cold outreach
Step 5: Term Sheet Education
Key terms to understand:
- •Valuation (pre-money vs. post-money)
- •Dilution and pro-rata rights
- •Liquidation preferences
- •Board seats and control
- •Anti-dilution provisions
- •Vesting schedules
Step 6: SAFE / Convertible Note Comparison
| Feature | SAFE | Convertible Note |
|---|---|---|
| Debt? | No | Yes |
| Interest? | No | Yes |
| Maturity? | No | Yes |
| Conversion | Next priced round | Maturity or round |
| Complexity | Low | Medium |
Output Format
markdown
## Fundraising Strategy: [Company] ### Readiness Assessment [Assessment] ### Raise Parameters - Amount: $X - Instrument: [SAFE/Note/Priced] - Target close: [Date] ### Investor List Criteria [Targeting criteria] ### Materials Checklist - [ ] Pitch deck - [ ] Financial model - [ ] One-pager - [ ] Data room ### Term Sheet Key Terms [Explanation of relevant terms]
Constraints
- •This is not legal or financial advice — always recommend consulting a lawyer for term sheets
- •Don't make promises about fundraising outcomes
- •Be honest about fundraising difficulty — most startups don't raise
- •Note that fundraising is a means to an end, not a milestone in itself