Jim Spinello

VC Real Talk #8: The Fundraising Time Sink Endless pitching and chasing capital can wreck product momentum and founder sanity. Pitch fatigue is real… and it shows. How do you balance fundraising with building your company? Ever seen pitching go off the rails? Offer your best hacks or horror stories. Next week: Which startup metrics actually move VCs to invest? #Startups #Entrepreneurship #Innovation #VentureCapital #Leadership #VCRealTalk

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VCs notoriously lack transparency. If you're looking to fundraise, are in the process, or are tired of hitting the fundraising brick wall, "What VCs Really Think of Your Startup" is for you. This guide breaks down the criteria VCs use to evaluate startups, tailored to business models like B2B SaaS, D2C, and Deep Tech. You’ll learn how to align with their expectations—or decide if VC funding is even the right path for your business. Here’s the truth: most startups won’t secure venture capital, and that’s okay. VC funding is a tool, not the goal. Whether you’re navigating the billion-dollar market test, bridging the funding gap, or building traction, this guide provides actionable insights to help your startup thrive—with or without venture capital. Founder VC #VentureCapital #Startups #Entrepreneurship #Innovation #Technology #Funding #BusinessGrowth

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Sometimes promising startups get off on the wrong foot with their VC fundraising effort because they step into a trap that signals naiveté. Three very simple starter suggestions for every founder looking to raise early-stage VC: 1. Target a common round size ($3M Seed, $10M Series A) 2. Stay silent on valuation until you have a term sheet 3. Define what the capital enables (e.g., revenue milestone) https://lnkd.in/gEfArG78

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Founders weighing equity vs. debt often zero in on dilution — and rightfully so. But one important advantage of venture debt that doesn’t get enough attention? Speed. It’s often significantly faster to secure. After decades as both a VC and a growth lender, I’ve seen this play out repeatedly: venture debt moves quicker. Here’s why: ✅ Less dilution, less negotiation. Equity rounds involve haggling over ownership, board seats, and governance rights. Debt focuses primarily on financial terms like loan size, rate, and covenants. There is no need to establish an equity valuation. ✅ Simpler decision-making. Venture capital requires partner consensus, investor alignment and the potential for a homerun. Lenders operate with focused credit committees designed to move quickly. They don’t need a homerun to have a successful investment. ✅ It complements equity, not competes with it. Venture debt is often used alongside an equity round to extend runway or accelerate growth. That alignment makes it faster to agree on terms and move forward. In uncertain times, speed matters. Whether you’re funding a product launch, expanding your team, or preserving momentum, fast, non-dilutive capital gives you leverage. When equity capital is harder to come by, founders should consider how (and how quickly) debt can help them reach the next milestone.

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Thinking a lot about how to help Buoyant Ventures portfolio companies stay focused amidst all the national turmoil. This also applies to me and my team. The pace of bad news is overwhelming and seemingly by design. Here are some thoughts. 🤿 Put your oxygen mask on first. Get good sleep, try to eat healthy, cut back on substances. Create and protect a healthy morning routine so you start the day grounded. You need to be clear-headed to be a good leader right now. More clear-headed than ever before. Your employees, investors, customers are counting on you to lead and are looking to you for motivation. They may be scared, reactive, depressed, spiraling. Show them strength and compassion. 🙏 Find something to be grateful for every day. Your health, your family, your friends, nature, music, books. Get outside for fresh air and sunshine and exercise. Find some joy every day. We are all lucky to be alive, and we don't know when our time is up. ✋🏼 Ask for help. Be brave enough to be vulnerable and ask for help from your team, family, investors, community. You will most likely be happy to learn that many people want to help and want you to succeed. Asking for help is a sign of strength and also a way to give those around you something positive to contribute. 🩷 Live your values. Many of us working on climate solutions are doing so because we care deeply about creating a future that is more sustainable, resilient, heathy than today, for future generations. I am disheartened by some firms and companies changing their missions and values to reflect current economic and political stresses. Climate change is the same urgent global crisis that it was last year, and the devastating effects of extreme natural disasters will not slow down just because we stopped talking about them or scrubbed data from federal websites or cancelled grants. In fact, the opposite will happen. Things will get worse faster. To my fellow VCs, entrepreneurs, and LPs, what other advice do you have for coping with this turmoil and uncertainty? Abe Yokell Joshua Posamentier Gabriel Kra Chanel Damphousse Ernst Theodor Sack Emily Kirsch Jane Woodward Clay Dumas Sierra Peterson Sarah Sclarsic Tom Steyer Dawn Lippert Andy Karsner Michael Bruce Brandon Middaugh Erika Basham Aaron R. Sanjeev Krishnan Lyndsey Boucherle Tom Ferguson Kareem Dabbagh Ph.D. Rick Zullo John Balbach Joe Aguilar Michelle Carr Nikhil Vadhavkar Eddie Obropta Yanzhi (Ann) Xu Patrick Finch Hudson Hollister 🏢 Christopher Naismith Matt Zimola Kate Sanner Forest Frizzell Rob Cirincione Saleh ElHattab Adam Rimmer Chris Gladwin

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What should founders do right now to prepare for the ramifications of a #tariff war? Jeff Burkland (CEO and founder of Burkland, which serves as a fractional CFO to 800+ startups) and I sat down to discuss this exact question on Friday. Here's an actionable playbook for #founders to navigate the coming uncertainty: 1) Meet with your top 5-10 customers: Understand how they're adjusting plans. Are they reducing spending? Which areas are highest at risk? 2) Assemble your crisis leadership team: Schedule a meeting early this week to ensure alignment and readiness for swift decision-making. 3) Build scenario plans now: What if you only achieve 50% of your revenue targets this year? Where would you need to cut if you wanted to add 6 more months of runway? 4) Rethink your product roadmap and marketing strategy: Can you introduce features that save your customers money or make your platform essential in tougher economic conditions? 5) Diversify your pipeline: Given the broad reach tariffs can have, we still don't fully understand which companies might be most exposed. Expand your outreach across different sectors and geographies (US and international) to minimize exposure to concentration risk. This moment feels reminiscent of early COVID-19, but there's a crucial difference - government action could rapidly shift the landscape again. This means we need to be prepared for multiple scenarios. Don't underestimate the potential impact of this evolving #macroeconomic climate. Use this weekend wisely - your startup will thank you.

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Healthcare startups have been on a rollercoaster ride over the past three years. 🎢 Hinge Health is poised to go public… while primary-care startup Forward abruptly shut down at the end of last year. The highs of 2021 gave way to a tough market correction, where many high-valuation companies struggled to prove their worth to public investors. Hinge Health’s IPO could mark the first healthcare delivery startup to go public in nearly three years — a rare milestone in a sector that saw valuations soar and then recalibrate. Meanwhile, Forward’s recent closure is a stark reminder that billion-dollar ambitions don’t always translate to sustainable business models. At Symphonic Capital, we’re focused on companies that build lasting, valuable businesses—not just those chasing the biggest valuation. The goal is to create meaningful impact for patients and strong returns for our LPs, without getting caught up in the hype. #PrimaryCare #Startups #VentureCapital

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Everything you've been told about founder ownership and dilution is wrong. Before you hit product-market fit, your number one job is not to run out of money. You’re not going to regret giving up 3% more in your seed round if this thing becomes anything big. You *will* regret not being able to hire that perfect marketer or run that campaign that could’ve changed your trajectory. More runway = more shots at figuring it out. Optimize for ownership later, when the flywheel is going AND you are default alive.

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