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Raising your first round

For founders raising from angels or a pre-seed fund for the first time: how the money usually works, what an investor reads first, and the documents and numbers to have ready before the first meeting.

Four lessons

General education, not legal, tax, or investment advice. Talk to a startup lawyer before you sign financing documents.

1. Angel and pre-seed money: how it worksSAFEs, notes, priced rounds, and what dilution means for you.Read the lesson
2. What an angel actually readsThe team, the problem, the early evidence, and a clear ask.Read the lesson
3. A data room on day oneThe documents and numbers to have in one place before the first meeting.Read the lesson
4. A one-page metrics sheet for your raiseThe handful of numbers to show, how to define them, and what to leave off.Read the lesson