Fundraising Checklist

A step-by-step guide to raising your first round of venture funding. Check off items as you complete them. Your progress is saved automatically.

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Preparation

Get your fundamentals in order before reaching out to investors.

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Define your funding goalsDetermine how much you need to raise and what milestones it will help you achieve.

Determine your valuation expectationsResearch comparable deals and set realistic pre-money valuation targets.

Choose your funding instrumentDecide between SAFE, Convertible Note, or Priced Round based on your stage and needs.

Incorporate your company (if not done)Delaware C-Corp is standard for VC-backed startups.

Clean up your cap tableEnsure all equity is properly documented with signed agreements.

Set up a data roomCreate a secure folder with key documents for due diligence.

Materials

Create compelling materials that tell your story.

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Build your pitch deck (10-15 slides)Cover problem, solution, market, traction, team, and the ask.

Write an executive summary (1-2 pages)A concise overview for investors who want a quick read.

Create a financial model3-5 year projections showing revenue, costs, and key metrics.

Prepare product demo or screenshotsShow what you've built and how it works.

Gather traction metricsRevenue, users, growth rate, retention, and other KPIs.

Prepare founder bios and LinkedIn profilesInvestors will research you. Make sure your story is clear.

Investor Research

Build a targeted list of investors who are a good fit.

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Build target investor list (50-100 investors)Include VCs, angels, and funds that invest in your stage and sector.

Research each investor's thesis and portfolioUnderstand what they look for and who they've backed.

Identify warm introduction pathsMap connections through LinkedIn, portfolio founders, and advisors.

Prioritize investors by fit and likelihoodFocus energy on investors most likely to say yes.

Track investors in a CRM or spreadsheetMonitor outreach status, meetings, and follow-ups.

Outreach

Start conversations and get meetings.

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Craft personalized outreach emailsReference their portfolio or thesis to show you've done your homework.

Request warm introductionsIntros from founders or mutual connections convert much better.

Submit to investor application formsMany VCs have online pitch submission forms.

Attend relevant events and demo daysIn-person meetings can accelerate relationships.

Follow up consistently (but not aggressively)Send 2-3 follow-ups spaced a week apart.

Pitch Meetings

Make the most of every investor conversation.

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Practice your pitch with advisorsGet feedback and refine your delivery.

Prepare for common questionsCompetition, unit economics, go-to-market, team gaps, etc.

Have your metrics readily availableBe ready to dive deep on any number you mention.

Send follow-up materials promptlyWithin 24 hours, send deck, additional info, and thank you.

Track investor feedback and objectionsUse insights to improve your pitch and materials.

Closing

Navigate term sheets and close your round.

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Review and compare term sheetsUnderstand key terms: valuation, liquidation preference, board seats, etc.

Negotiate terms (with attorney support)Don't be afraid to push back on unfriendly terms.

Complete legal due diligenceRespond to investor requests promptly and thoroughly.

Sign closing documentsStock purchase agreement, investor rights agreement, etc.

Wire funds and update cap tableConfirm receipt and issue shares to investors.

Send investor welcome and first updateStart the relationship strong with clear communication.