You’re told you never get a second chance at a first impression.
That having a credible team behind you is key, and that approaching a VC needs to be done with the right blend of panache and respect.
In the tech sphere, all are standard practice when it comes to approaching venture capital investment.
A tirelessly discussed topic amongst all major tech outlets, Hot Topics creates a platform for the world’s top VCs to share advice to entrepreneurs.
Just type ‘investment’ into the search bar on the top right to see a plethora of guidance from the world’s foremost VCs.
And whilst a lot of discussion is to be had around how to approach getting investment, a seldom discussed topic is what happens once the dust has settled, contracts signed, and the money is in the bank.
Talking at the Hot Topics London event, serial CEO turned investor Simon Calver imparts some advice on maintaining a strong VC relationship.
As a co-founder of the recently formed early stage investment vehicle backed by The Business Growth Fund, Calver has the keys to a £200 million cash-pot allotted for the most exciting UK startups.
“It’s all about transparency and communication, and setting expectations in the right way…understanding the pressure each party is under is key”.
Like the old aphorism, do it early and often. Rather than staying true to formal processes, “make sure you have constant dialogue so that all parties understand what’s going on, and don’t wait until formal board meetings.”
It’s these kinds of conversations that help maintain a strong VC relationship.
Getting too bogged down in processes can sideline the human aspect required to maintain a strong VC relationship.
Instead, Calver implores entrepreneurs to wonder, “what other things can be done together. These are the types of discussions that VC’s and investors really like”.