Navigating our fundraise journey
Do VCs also have this underdog spirit? The early-stage VC, take a lot of risk in investing at a pre-revenue startup. How do they scout such founders? What are the key attributes they look for in the early-stage team, which are pre-revenue and have an MVP?
Thank you for your POV.
But even if they like to ape, what are the things they like to see in a founding team? Going beyond the IIT and IIM tag.
I'm a non IIT/IIM and there a lot like me. So how do they scout the talents with no such tags?
They don't scout for non IIT IIM founders, unfortunately. The only other way to convince them is to show revenue and profit. Even then they might give some shitty excuse of "too early" or "market not big enough".
I'm in a similar boat as you, have pitched to many people and wasted a lot of time. We have MVP, revenue, profit, that too in a niche with very little competition but still no investors are interested.
Out of curiosity, if you have profit why do you need investors?
My partner just scouts companies He's fast and has been recently writing small checks if technical founder + pedigree! Also he's well connected in the startup scene and goes to meets,et regularly so is always in touch with others
Also having an MVP is important but depends if the technical founder ahs the required expertise we invest
Great, must be interesting for your partner. Well, we have complimentary skills across business, tech and product in our team, it would be great if you elaborate on the pedigree.
VCs rarely have an underdog spirit, they mostly like to ape what others are doing. Be it within the country or outside it.
If you have IIT IIM badges they might be more willing to invest.