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What founders should think about if looking to raise a Series C
And it starts with a reality check, according to Sapphire Ventures partner Cathy Gao.
Sure, metrics are important, as are annual returns, growth, and retention, she said, but if investors are not sold on the idea that a company can truly become a leader in their respective space, then they are going to move on. Finally, she said, founders should treat fundraising like a go-to-market campaign and seek to develop relationships with VCs before pitching them for capital. Perhaps most importantly, however, Gao noted that a company looking to raise a Series C should not enter a fundraise until they’ve received a signal from multiple firms that they’re interested in backing the round.
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