I think GP is just referencing the article because it seems daunting to many founders to "know" 20-30 quality investors. The investor who wrote this piece is a well known seed stage investor, so when he says "meet with 20-30 investors" he's talking about a seed stage raise of around $2-7MM.
In my experience the reality is you need probably 4-5 solid intros to get to 20-30 meetings, because investors love to pass deals around to other investors.
Out of curiosity: how much would an investment banker charge to a company to get 20-30 intros to quality investors, assuming it's bankers who have relationships with investors established through M&A or as LPs? I've never seen it, but I also realize that doesn't mean it doesn't happen :).
You're exactly right. I'm afraid I'm guilty of commenting before even reading the article, sorry.
Bankers aren't usually involved at the very early / seed rounds.
I have traditionally worked on M&A transactions rather than capital raises, but to answer your question fees are usually determined as a % of the amount raised, subject to a minimum—which again is why it only makes it economical to hire a banker at later stages. Generally we look to precedent fees as a general guideline and then negotiate from there with the client depending on specifics.
In my experience the reality is you need probably 4-5 solid intros to get to 20-30 meetings, because investors love to pass deals around to other investors.
Out of curiosity: how much would an investment banker charge to a company to get 20-30 intros to quality investors, assuming it's bankers who have relationships with investors established through M&A or as LPs? I've never seen it, but I also realize that doesn't mean it doesn't happen :).