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What are the best strategies for finding and preparing for pre-seed funding?

For founders looking to raise their first round of pre-seed funding, what are the key steps to take when identifying potential investors? How can startups best prepare for investor meetings, pitch effectively, and demonstrate traction at such an early stage? Would love to hear any insights or experiences around what worked, what didn’t, and tips for navigating this critical phase of startup fundraising!
( 2 comments | on HN )
Re:What are the best strategies for finding and preparing fo... by elawler24 on Thursday September 19, 2024 @07:54AM (#41590844)
Fundraising for the first time might be hard - persistence and tenacity will get you through it. Put together a pitch deck, demo, maybe a 1-pager, and a spreadsheet of every founder and investor you know. Start lining up meetings, and your pitch will get better every time. You might do hundreds of them. Your first check will likely come from a personal connection, then it will snowball from there.

Take checks as SAFEs - YC has a standard one you can download that everyone trusts. I would watch all the YC startup school videos on fundraising if you haven’t already, lots of great advice in there.

It only takes 1 yes for a round to come together.

Re:What are the best strategies for finding and preparing fo... by Isha2 on Friday September 20, 2024 @07:40AM (#41600995)
The best strategy for pre-seed funding starts with building genuine relationships with investors who align with your vision. Use platforms like Eqvista to streamline your cap table and demonstrate solid equity management early on. Prepare by crafting a clear, concise pitch focused on the problem you're solving, your unique solution, and early traction—whether it's a prototype, user feedback, or a small but engaged audience. Above all, show potential, not perfection, and convey your passion while being open to feedback.