
A brief introduction to the course and why I created it.
A walk through of all the modules of the course and the work you will have completed by the end of the course.
Here we break down how venture funds are structured and what that means with respect to how they source investments. We then use this to frame an exercise about how we should position ourselves as start-ups.
Investors are always thinking about why this start-up will succeed in today's environment. Here we break down what they mean and provide examples. We end with an exercise for you to answer this question for yourself.
Here we look at a timeline of a VC fundraise in practicality. We spell out each stage and their actions items clearly and give you a sample Gantt chart to copy. We then create a workshop around planning your fundraising goals.
If you are executing your fundraise using simple tools like email and excel, you are wasting hours of time. In this module, I give you free (or inexpensive) tech resources that will save you hours of time.
Meeting VC investors is like dating. In this module, we give you a practical guide to building relationships with VCs and discuss the nuances of those early meetings.
Once we have our target investors and nailed our story, how do we actually run an effective fundraising process that gets investors on our calendars.
Founders often make the same mistake when crafting their pitch decks. We discuss that that big mistake is and what is the right way to start crafting your story.
Rima Reddy, a Principal at Commerce VC, a seed-stage investment firm, talks about what she looks for in Founders during pitch meetings.
We start off with an exercise to help you distill the core story of your pitch deck. We then discuss what process to take to ensure that the story guides the building of the pitch deck, and not the other way around. We discuss best practices and tips.
Thus far, we have talked a lot about the strategy behind pitch decks and storytelling. In this session, we talk about the tangible tips: Do you send your deck ahead? How do you follow-up after a meeting? What types of questions should you ask?
Introduction and review of previous module
Jon Sklaroff, Principal at Optum Ventures, a $1B venture fund joins us to talk about the venture diligence process.
We discus Competitive Landscape, Market Sizing, and the Frequently Asked Questions list. We then break into a group exercise in order to build our Frequently Asked Questions list.
We talk about the VC diligence process from the other side. What do VC's works streams look like and how can we use that information to our advantage.
What specifically do investors look for in your financial model?
What are the benchmarks investors expect in a financial model? A good financial model can never win you an investment, but a bad financial model can exclude you from investment. I want you to understand the difference.
James Shecter, Seed Stage investor at Fika Ventures comes to speak to our cohort about best practices for financial modeling. He shares with us some of the benchmarks his VC firm shares with their portfolio companies.
Investors will expect you to have an understanding of how your product will evolve over time. Pancrazio, who is a Mentor at Berkely's SkyDeck Accelerator and former Chief Product Officer, walks through the framework of how you build an effective product roadmap.
The cohort has a few questions for Pancrazio after his product roadmap session.
We discuss how priced rounds, pre-money valuation, and post-money valuations work. We also discuss Term Sheets and strategies for negotiating your best deal.
The concepts of VC fundraising are actually very simple - the problem is that the rules are unwritten. This bootcamp, taught by a Lecturer at Wharton is meant to serve as a step-by-step guide to help you prepare for and execute the fundraising process with confidence. This is a class that was taught to several Harvard Business School founders in January of 2024.
Filled with real exercises, templates, and guest lectures from 4 different seed stage venture capitalists, this class is meant to serve as a field manual to help you raise capital.
Why did we design this course? If you've ever taught some one your favorite card or board game and watched them play for the first time, you'll empathize with the pain you feel watching some one make all the classic mistakes. As venture investors, that is how we felt watching our portfolio companies fundraise. This was not because they were unsophisticated or lacked the capability. It was because we had the benefit of seeing dozens of transactions every month, watching the best of the best fundraise. Our Founders on the other hand, had to spend all their time working on their business and often would only fundraise once every 18-36 months.
We built this playbook to ensure our Founders didn't make those common simple mistakes that so many founders make in their fundraising journey. We wanted to give our Founders a simple playbook that they could follow to ensure they ran a competitive, momentum driven process and got the best outcome they could for their business. Therefore, this course is not about theory. This is a field manual that will guide you along the steps to get the best terms for your startup.
Today, this playbook has been transformed into a talk that has been given at accelerators and some of the top MBA programs in the world, including Wharton, Harvard Business School, and Northwestern's Kellogg School of Management.
It is taught by Oliver Spalding, an Lecturer at The Wharton School of Business at the University of Pennsylvania and early-stage investor. It is TA'd by Pancrazio Auteri, a multi-time exited founder & CPO who now serves as a coach for Berkely Haas's SkyDeck Accelerator program.