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David Haber
@dhaber
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2. velj |
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How did your fee structure change over the course of the funds you’ve raised? If at all?
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Semil
@semil
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2. velj |
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no fee, 20%
2.5%, 25%
2.5%, 25%
2.5%, 20%
2.5%, 20%
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Mat Sherman
@Mat_Sherman
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2. velj |
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What is the best way for a founder to get on your radar if they can't get a warm intro to you?
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Semil
@semil
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2. velj |
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always use the Steve Martin quote - "be so good they can't ignore you."
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🧑🏻💻☕️
@hunterwalk
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2. velj |
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Did you proactively change any LPs this time and what were you seeking from new additions?
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Semil
@semil
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2. velj |
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yes, we proactively changed one. all new editions were folks I have known for 3+ years. but, I don't want to make it sound like we had $150M of demand for $50M either. but relationships were counted 100x over anything else.
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.NF
@nickfarrow76
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2. velj |
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Are LP’s more cautious about seed funds than they were the last time you raised?
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Semil
@semil
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2. velj |
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depends. institutional LPs often can't do a fund below $100M. but there are more LPs in the game, but they could leave the game, too. time will tell.
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Jubair Jalil
@BillionaireBear
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2. velj |
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Would love details on your fundraising pipeline:
- How many LPs did you pitch?
- % that converted & invested?
- How many meetings before they committed?
- Average Check-size of LP?
- What type of LPs were quickest to commit & what type took the longest?
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Semil
@semil
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2. velj |
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rough estimates:
-100+
-less than 10
-some where phone calls b/c I knew them
-$3M - $10M range
-no discernable pattern
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