Elad Gil offers some structured advice for how to raise a Series A round, and how it differs from angel funding. The headlines:
- Line up all the meetings in a short period of time.
- Create an auction.
- Make the first 2-3 meetings "practice meetings" if at all possible.
- Find the right partners at the right firms to talk to.
- Use back channels to your advantage.
- Treat the pitch as a product - iterate on it until it is great.
- Know what you are optimising for (control, valuation, expertise, etc).
The best advice missing from the list? As with many tricky aspects of stating up, get advice/mentoring from someone who's familiar with the process.
