How to Raise Money For Your Startup – 10 Fundraising Tips For 2024

How to Raise Money For Your Startup – 10 Fundraising Tips For 2024

How can you raise VC funding right now? VCs at our first investment readiness event of the year share their top fundraising tips for 2024.

UK tech startups raised $21.3b in VC investment 2023, the third highest year on record, but still down on the previous two years.

VC funding may be harder to come by, but with the right approach, founders can navigate the hurdles and maximise their chances of raising venture capital investment.

So how can you raise money for your startup in the current climate? 

We recently hosted our first investment readiness event of the year for founders in our Climate and Libra programmes, bringing together a panel of leading VCs and startup operators who shared their fundraising tips for startups raising Seed and Series A rounds.

Here’s their top 10 fundraising tips for 2024:

Jia-Lin Yong, Giant Ventures

1. Storytelling is King

Keep it simple and ensure you have a compelling narrative. Help investors grasp your vision quickly, showcasing its billion-dollar potential and why your team is uniquely positioned to realise it.

2. Build Proof Points

Facing fundraising roadblocks? Extend your runway and ruthlessly focus on tangible achievements. Traction and technical milestones serve as potent evidence for investors.

3. Resilience is Your Weapon

Don’t be discouraged by rejections. Remember, just a few “’yeses’ can change everything. Stay resilient, learn from each interaction, and persevere through the inevitable ‘nos’ 

Sarah Finegan, Antler

4. Prepare for the Marathon 

Fundraising is a marathon, not a sprint. Allocate significant time and effort to the process. Engage with a multitude of investors (100+ in many cases), and diligently follow up; the urgency lies on your end, not theirs.

5. Embrace Feedback, Refine Your Strategy

View each interaction as an opportunity to fine tune your pitch and strategy. Actively seek feedback, learn from it, and adapt your strategy accordingly.

6. Persistence is Key

Rejection is an inevitable part of the process. Maintain your focus, learn from each interaction, and persevere with unwavering determination, resistance and tenacity.

Felix Winkler, White Star Capital

7. Investor-Centric Approach

Make life easy for investors. Understand their priorities and tailor your communication accordingly.

8. Clarity and Metrics Matter 

Clearly articulate your vision and path to success. Support your narrative with data-driven metrics that showcase your progress and potential.

Katya Constant, Formerly, Systemiq Capital

9. Embrace Transparency

Own your mistakes and challenges. Investors value honesty and resilience. Use these experiences to demonstrate your ability to overcome obstacles and learn from setbacks.

10. Time Management is Crucial

Fundraising is time-consuming. Plan your cash flow carefully and manage your time effectively to ensure your business doesn’t stall during this period. Expect the process to take six months at a minimum. 

Beyond these individual insights, remember this: Building trust and genuine relationships with investors is paramount. Be passionate, transparent, and add value in every interaction. 

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