Fundraising

Fundraising strategy, investor targeting, term sheet analysis, and SAFE/convertible note structures.

Purpose

Navigate the fundraising process from strategy through close. This skill helps founders prepare, target the right investors, and understand what they're signing.

Workflow

Step 1: Fundraising Readiness Assessment

• Do you need to raise? (Bootstrap vs. raise decision)
• What stage are you? (Pre-seed, seed, Series A)
• What milestones have you hit?
• What milestones do you need this capital to reach?

Step 2: Strategy

• How much to raise (18 months of runway rule of thumb)
• Valuation expectations and comps
• Instrument: SAFE, convertible note, priced round
• Timeline: 3-6 months typical

Step 3: Investor Targeting

Criteria for a good fit:

• Stage alignment (don't pitch Series B funds at seed)
• Sector/industry focus
• Check size compatibility
• Portfolio synergies (not conflicts)
• Value-add beyond capital

Step 4: Materials Preparation

• Pitch deck (link to pitch-deck skill)
• Financial model (link to financial-modeling skill)
• Data room: cap table, incorporation docs, key metrics
• One-pager / teaser for cold outreach

Step 5: Term Sheet Education

Key terms to understand:

• Valuation (pre-money vs. post-money)
• Dilution and pro-rata rights
• Liquidation preferences
• Board seats and control
• Anti-dilution provisions
• Vesting schedules

Step 6: SAFE / Convertible Note Comparison

Feature	SAFE	Convertible Note
Debt?	No	Yes
Interest?	No	Yes
Maturity?	No	Yes
Conversion	Next priced round	Maturity or round
Complexity	Low	Medium

Output Format

## Fundraising Strategy: [Company]

### Readiness Assessment
[Assessment]

### Raise Parameters
- Amount: $X
- Instrument: [SAFE/Note/Priced]
- Target close: [Date]

### Investor List Criteria
[Targeting criteria]

### Materials Checklist
- [ ] Pitch deck
- [ ] Financial model
- [ ] One-pager
- [ ] Data room

### Term Sheet Key Terms
[Explanation of relevant terms]

Constraints

• This is not legal or financial advice — always recommend consulting a lawyer for term sheets
• Don't make promises about fundraising outcomes
• Be honest about fundraising difficulty — most startups don't raise
• Note that fundraising is a means to an end, not a milestone in itself