

Tip from a VC: Raise More by Asking for Less - scottporad
http://starkravingvc.com/2012/10/16/raise-more-by-setting-a-lower-target/

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scottporad
"If you are targeting angels and super-angels, the strategy of lowering your
target may enable you to raise more money, more quickly."

Wise advice. The first time I ever tried to raise money I had absolutely no
idea what I was doing. One of the key things I learned was that they all take
comfort in not being the lead. It takes a lot guts to stick your neck out and
be the first investor.

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prostoalex
As a counterpoint, Brad Feld in Venture Deals advises to be ready to defend
your number, and thus have a specific one.

Giving the investor a range (or not being able to describe why you came up
with this specific number) gives them the impression that they won't be buying
into growth, they will be financing an existing burn rate for indeterminate
amount of time.

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borski
We actually raised our target on advice from Naval from AngelList, because our
original target didn't incentivize VCs to get in if they wanted to. For our
business, raising the target was actually more helpful with raising more
money, because we got oversubscribed faster, but with a number of VCs in the
round.

