Fundraising

New VC fund managers do not know that these things they are doing are completely ILLEGAL… ❌ There are very strict rules around fundraising. Yet many new GPs copy what they see others doing — even when it’s illegal. The risk? Trouble today, or 5–10 years down the line when regulators or LPs look closer. Sophisticated LPs know the legal lines — and crossing them exposes both liability and inexperience. Here are the 3 most common fundraising violations (and how to avoid them): 1️⃣ PERFORMANCE-BASED FUNDRAISING COMPENSATION 👩🏾⚖️ Many “Vendors” often say: - “I’ll be a venture partner — give me carry for LPs I bring.” - “We’ll raise for you — just pay a % of capital committed.” 🚫 Illegal without a broker-dealer license ($50K–$150K+ + ongoing compliance). Even employee bonuses tied to fundraising can trigger violations. ✅ Legal way: Pay fixed fees or salaries unrelated to fundraising. Compensate with cash, equity or carry — but not tied to capital raised. 👉 Reality check: As a new manager, it’s extremely unlikely that anyone else can fundraise for you without a track record. You’ll almost always need to do the hard work yourself. 2️⃣ GENERAL SOLICITATION 👨🏻⚖️ New managers assume LPs will roll in if they “go public.” Tactics include: • LinkedIn posts about fundraising • Cold DMs to people • Podcasts/webinars about your fund • “Contact us to invest” buttons on websites 🚫 All illegal — unless you’ve structured under narrow exemptions. Even cold outreach counts as solicitation. ✅ Legal way: You can only pitch people you have pre-existing relationships with who are accredited investors. Network authentically, vuild relationships, then pitch one-on-one. 👉 Reality check: Public fundraising isn’t just illegal — it looks cheap. LPs won’t trust someone blasting cold posts with no track record. VC is trust-based. Public asks scream inexperience. 3️⃣ RAISING FROM EU LPS WITHOUT COMPLIANCE 🧑🏿⚖️ Many assume: • “If a European LP wants in, I can accept the money.” • “Everyone else does it — must be fine.” 🚫 Wrong. The EU regulates under AIFMD (Alternative Investment Fund Managers Directive) and MiFID II (Markets in Financial Instruments Directive). Even one EU LP can trigger filings. Regulators act quickly. ✅ Legal way: Work with EU securities counsel. File required notifications in each jurisdiction before accepting European LPs. 👉 Reality check: European LPs expect compliance. Skip it, and you lose credibility. Worse — a violation can come back years later and jeopardize your fund. Breaking the rules — even by accident — is the fastest way to undermine your credibility. And “everyone else does it” is not a defense. The managers who win are the ones who know the rules, build real relationships, and raise the right way. ⚖️ Know the rules. Follow them. Your fund' future depends on it.

The latest benchmarks for US startup fundraising - from pre-seed through Series C. Data: nearly 1,500 rounds raised so far in 2025. Only includes software companies, but don’t worry - a deep tech version is coming soon. Rounds completed on SAFEs in the orange color tiers are split by total amount raised, since everyone has a slightly different definition of “pre-seed” and “seed on SAFEs”. Rounds on priced equity in the blue color tiers split by round names. Just primary rounds, no bridges or extensions or “Series A Jr” stuff going on. Couple things to keep in mind: 1) these are heavily influenced by SF and NY deals because…that’s where the most deals are happening! National figures take on the character of the most mature markets. 2) Actually fewer deals are happening these days but at robust valuations and round sizes. 3) Lots of AI up and down these figures. 4) These are just benchmarks. Each deal is different. You can have a high valuation and high dilution, or tiny dilution and a high val, or a hundred other ways. These are pretty expensive numbers, candidly. $20M post-money at Seed is pricey! But the underlying dynamic is not all rosy for founders. VCs are competing hard for certain deals but again the total number of rounds is falling. The venture tale of “haves and have nots” has never been more true. Share with a fundraising founder 🙏 #startups #founders #fundraising

This Danish foundation gives away $1.3 billion annually – and their secret isn't efficiency ratios, it's something far more radical: They implement nothing. Behind this Danish foundation's rapid rise is Ozempic – the blockbuster diabetes and weight-loss drug that's generated unprecedented profits for Novo Nordisk. The Novo Nordisk Foundation, which owns about a quarter of the pharmaceutical giant, has become one of the world's wealthiest charitable foundations with assets around $167 billion. Yet rather than hiring armies of staff like other major philanthropies, they've gone the opposite direction. In a recent interview, their Chief Scientific Officer for Health Flemming Konradsen revealed their secret to me: They don't implement – they only work through partners. Zero programs. Zero direct service delivery. The model: ➡️ Find what already works  ➡️ Partner with governments who own the strategy ➡️ Create sustainable markets, not dependency  ➡️ Stay for 15+ years, not 3-year cycles Example: Their school feeding programs create permanent markets for local farmers while training health workers and scaling AI solutions across continents. The hard part? Saying no to putting your name on things. Letting partners get the credit. Trusting that influence matters more than control. For development professionals: This approach creates new opportunities. These ultra-efficient funders skip the usual suspects and source partners who can be trusted with strategy, not just execution. They're looking for implementers who think like owners. If you can demonstrate government relationships, long-term thinking, and the ability to build sustainable systems (not just deliver projects), you become invaluable to this new breed of funders. What could your organization accomplish if it stopped trying to do everything itself? Disclaimer: I’ve edited this post as it’s been flagged that Novo Nordisk Foundation has 250 employees. #Philanthropy #Partnership #Foundation 📷 Novo Nordisk Foundation

Y Combinator is widely regarded as the most successful startup accelerator in the world and the top choice for world-class entrepreneurs. They've helped incubate more than 90 unicorns, 45% of their companies go on to raise a Series A (higher than the 33% average), and the combined market cap of their startups is currently over $600B. To honor the final day you can apply to Y Combinator’s first-ever Spring batch (i.e. X25), I teamed up with past collaborator Palle Broe on the most in-depth and intriguing analysis you’ll find anywhere of the world’s most successful startup incubator. Palle spent over 100 hours (!!!) digging through all available public data to pull back the magic that is YC—so that others can learn from their success. Key takeaways 1. YC has gone from being a Consumer investor to primarily a B2B investor. Consumer companies have resulted in over $200 billion of market cap, while B2B companies are currently privately valued at some $170 billion and are on the rise. 2. Based on batch profiles, founders are betting on AI (specifically, B2B AI) to be the next big thing. The most promising subcategories include “Engineering, Product, and Design,” Infrastructure, and Sales. 3. Solo founders are at a disadvantage. Although solo founders are encouraged, the data does show a steep decline in the number of them accepted to YC. 4. Success has so far been driven by U.S.-founded companies. More than 70% of the startups have been founded in the U.S., and to date, 99% of returns have come from the U.S. 5. The durability of YC companies is significantly higher than that of the average startup. More than 50% of companies are still alive after 10 years (vs. 30% average). 6. The chances of startup success are higher with YC. 45% secure Series A (vs. 33% average), 4% to 5% become a unicorn (vs. 2.5% average), and 10% achieve an exit. 7. The VC power law also exists at YC. Four companies account for more than 85% of YC’s returns to date: Airbnb, Coinbase, Reddit, and Instacart. 8. The investors in YC companies are the “crème de la crème.” Tier 1 VCs frequently invest in YC companies, and some have made several hundreds of investments. Here's the full post: https://lnkd.in/gR8mr5XT

If you're a founder trying to fundraise right now, it probably feels like the entire venture world has gone quiet. The response times are slow, OOOs are on and it’s easy to feel like you’re losing momentum. Don't stress. The summer slowdown is predictable, and it's not a setback, it's a gift of time if you use it well. I see this every year... The founders who scramble to send frantic emails in July/August are the same ones who struggle in the fall with an over-shopped deal and the fatigue of an endless fundraise. But the founders who use this quiet period for deep, focused preparation are the ones who run a crisp, successful process after Labor Day. The fundraising race is won in the prep lap. Here are a few things you can do right now to prep for a big fundraising push this fall: 1. Build a High-Fidelity Investor Pipeline. Go beyond a simple list of names. Create a comprehensive document that tracks every firm and partner, their specific thesis, your history with them (if any), your connections to them and crucially, the feedback they've given you in the past. This turns your outreach into a strategic campaign. 2. Assemble a "Push-Button" Data Room. Don't wait for an investor to ask. Build your data room now so it's ready to go at a moment's notice. This includes your customer contracts, cohort analyses, deck, references and financial model. A well-organized data room signals professionalism and creates momentum. 3. Craft a "Juicy" Forwardable Blurb. The best introductions are easy to forward. Write a tight, compelling, one-paragraph teaser. It must include a unique insight on the market, why your team is going to win and any key metrics. This makes it effortless for people like me to advocate on your behalf. 4. Pressure-Test Your Narrative. Use this time to pitch trusted advisors, mentors, and other founders. This isn't about memorizing a script, it's about finding the weak spots in your story. Ask them to be ruthless. The tough questions you answer now in a friendly setting will save you in a rapid fire partner meeting later. 5. Get Your "Diligence" in Order. This is the one everyone forgets. Talk to your lawyer now. Make sure your corporate governance is tight and your cap table is accurate (and clean). Uncovering a messy problems during late-stage diligence can kill a deal. Solving it now is a massive de-risking event. 6. "Warm Up" Your References. Your best customers are your most powerful asset. Don't wait until an investor asks for a reference call to talk to them. Re-engage with your top 3-5 champions now. Check in, share your progress, and get them excited about your vision. A reference who is prepped and genuinely enthusiastic is infinitely more impactful. The fall fundraising season will be here before you know it. The work you do in the quiet of August will determine the success you have in the chaos of the fall. We are prepping for our next fundraise as well so this is how I'm spending my time💥

Love this campaign by Stella. "Worth it" ✨ Playing off a familiar scene we all know. That claustrophobic bar. Enter "Claustrobar" You're crammed shoulder to shoulder... Getting bumped left and right. Then you get your first sip. Makes it all worth it. 👀 Or does it...? We're seeing the OPPOSITE trend for B2B events. Marketers want smaller more niche events. Think dinners with 15 to 25 people. ONLY the exact ICP they want. We just did our Q1 retro at The Alliance 🧵 NEW Q1 EVENT DATA FOR YOU: Dinners under 25 people drove 3.4 times higher average pipeline per attendee than 200+ person field events Sponsor satisfaction scores were 27 points higher for private dinners vs traditional happy hours Events with personalized pre invite cadences had a 35 percent average acceptance rate among ICP targets Renewal rates on sponsor programs anchored around curated dinners hit 82 percent, compared to 58 percent for "open bar" events Thats why we're doubling down on niche events. Dinners and intimate VIP exeperiences. Why they worked so well: Step 1: ICP first targeting Every attendee list starts with sponsor aligned ICP firmographic filters: Company size, role seniority, industry fit, existing buying intent. Step 2: Personalized outreach Dedicated in house teams send direct invites framed around relevance. We track weekly acceptance rates and optimize touchpoints if we fall below 30 percent. Step 3: Pre event intel Sponsors get attendee insights two weeks before the dinner. They know which companies and titles are coming so they can plan the content PRECISELY for that audience to make it hyper relevant. Step 4: Structured conversations No loud music. No random crowds. Strategic seating charts and guided conversation topics aligned to the topics attendees and sponsors care about. This makes the experiences great for BOTH the company sponsoring and the attendees. Ends in a win win for everyone. Example for you: At our Austin dinner for a sponsor in Jan - 17 handpicked senior leaders attended - 76 percent of attendees booked follow up demos within 21 days - The sponsor sourced $3.2 million in net new pipeline which was 3.1 times their original goal TLDR Invest in more dinners ✌️ 

10 tactics to control costs A guide which provides you the tools for cost reduction When I was head of finance, we were facing a challenge: → How to reduce our hourly rate to stay competitive This became my number one priority to help the business And we succeeded to decrease our hourly rate by 3% while inflation was up! Today I am sharing the tactics to reduce costs: 1. Budgeting and Forecasting: • Importance: Plan and estimate costs, revenue, and expenses. This is where you can get your team to commit on cost reduction. • Focus: Use accurate data and update budgets regularly. 2. Variance Analysis: • Importance: Compare actual performance with budgets to identify deviations. If you found a variation, there is a big chance that you have a topic to explore to reduce costs. • Focus: Investigate significant variances for improved accuracy. 3. Cost Allocation: • Importance: Distribute indirect costs for accurate pricing and control. • Focus: Maintain fair and updated allocation methods. 4. Activity-Based Costing: • Importance: Assign costs to specific activities for better resource allocation. • Focus: Identify and measure cost-driving activities accurately. 5. Zero-Based Budgeting: • Importance: Justify every expense to optimize resource allocation. • Focus: Balance rigor with operational continuity. 6. Cost-Benefit Analysis: • Importance: Compare project costs with expected benefits. • Focus: Consider tangible and intangible factors. 7. Cost-Volume-Profit Analysis: • Importance: Understand how sales, costs, and pricing impact profitability. • Focus: Validate fixed and variable cost assumptions. 8. Inventory Management: • Importance: Optimize inventory levels to reduce costs. • Focus: Use EOQ and JIT techniques for efficiency. 9. Vendor Management: • Importance: Evaluate and maintain supplier relationships. • Focus: Assess performance and diversify suppliers. 10. Procurement Management: • Importance: Acquire goods at the best cost with quality. • Focus: Establish clear procurement processes and collaboration. 👉 What is your favorite method to find cost reductions?

Most CEOs get a 20-page financial package every month. They skim it. They nod. They move on. Not because they don't care. Because they don't know which 6 numbers deserve their attention. You don't need an MBA to read your numbers. You just need to know where to look. ➡️ Get my guide on How to Read Your Numbers and start making smarter decisions today:  https://lnkd.in/e4T6-6-5 Here's the reality: Your accountant sends you reports. Your CFO presents slides. But you still don't know if you're winning or losing. That's not a knowledge problem. It's a clarity problem. You need six metrics. Review them monthly. Takes 15 minutes. Let's break it down. 1️⃣ Revenue Trend ↳ Don't just look at the number, look at the pattern ↳ Seasonal businesses should compare to last year, same month ↳ Three flat or declining months in a row means your growth engine stalled 2️⃣ Gross Profit % ↳ This tells you if your pricing strategy is working ↳ If it drops 2-3%, you're either discounting too much or costs are rising faster than prices ↳ Track this by product line to find where margins are bleeding 3️⃣ Operating Expenses % ↳ Most CEOs let expenses creep up as revenue grows ↳ Best-in-class companies keep this ratio flat or declining as they scale ↳ If yours is climbing, you're adding cost faster than value 4️⃣ Bank Balance Trend ↳ Compare it to your revenue trend, they should move together ↳ If revenue climbs but cash drops, you're funding growth inefficiently ↳ If both are dropping, you're in a cash burn spiral (and running out of time to fix it) 5️⃣ Accounts Receivable Aging ↳ Anything over 60 days old should trigger a phone call ↳ Anything over 90 days old is a collection problem, not a payment delay ↳ If 90+ days represents more than 10% of total AR, tighten terms now 6️⃣ Cash Flow  ↳ If Cash from Operations is negative, the business didn’t fund itself  ↳ If profit is up but operating cash is down, cash is stuck in AR or inventory ↳ If cash improved because you raised/borrowed, the business got funded, not healthier Finance isn't complicated. But ignoring it is expensive. Start tracking these six metrics. You'll spot problems months before they become crises. Then take it to the next level: drive performance, plan cash flows, and engineer value. Get the cheat sheet free: https://lnkd.in/e4T6-6-5 ♻️ Helpful? Repost, Comment, Like. Thank you! Follow Oana Labes, MBA, CPA for strategic insights on financial leadership. —— Want to become a financially intelligent leader? The next cohort of The CEO Financial Intelligence Program kicks off Feb 11. Join leaders from 20+ countries who already transformed with this 5* rated 6-week experience. Learn more and enrol here: https://lnkd.in/gGvKYCPX

Six weeks ago, I went underground. Not off the grid. Just deep into the private Discord servers where sneakerheads spot fakes before they hit the market. The Slack channels where CMOs trade budget hacks they’d never tweet. The WhatsApp threads where collectors swap intel like it’s insider trading. I was lurking. Reverse-engineering how trust gets built in dark social. It seems like increasingly, we're seeing public feeds are for performance. And private chats are for proof. Back in 2010, Bitly found 69% of social shares happened in DMs and emails. Today, it’s closer to 90%. These spaces aren't controlled by algorithms, they're ruled by humans. Want in? Here’s how AI can help you: 1. Find the watering holes without wasting 100 hours: Tools like SparkToro reveal where your audience actually talks and track how those spaces shift over time. 2. Decode the language in minutes, not months: Drop top conversations into Microsoft Copilot or Google Gemini and ask: “What slang, inside jokes, or recurring complaints stand out here?” A skincare brand did this and found its audience was skeptical of clinical claims—so they pivoted to raw, unfiltered before-and-afters. 3. Pre-test content before you post: Use Perplexity to analyze which links get shared most in those communities. Run your hooks through ChatGPT and ask: “Would this grab attention in a thread full of X jargon?” Last month, a supplement brand nailed this. They scanned 500-plus Reddit, Inc. threads on workout fatigue, discovered that everyone hated the term biohacking, and switched their messaging to old-school muscle science. Engagement tripled. Your move this week: 1) Pick one niche community, whether it’s Discord, Slack, or a tight-knit Substack. 2) Use AI to extract three insider phrases and identify one unaddressed gripe. 3) Draft content that speaks their language, not yours. High impact means going beyond being data-driven to being community-fluent. And fluency starts with listening smarter. AI can help. #hicm #DarkSocial #SocialListening #AI

You don’t stop being disabled when conference or event sessions end, so why do so many organisers forget about inclusion at conference dinners and networking events? It’s great to see more events offering sign language interpreters, quiet rooms, and accessible seating during the main agenda. But what about during the coffee breaks? The networking dinner? The drinks at the end? If those adjustments vanish the moment the keynote’s over, it’s not inclusion – it’s performance. Disabled people don’t just attend the content. We build relationships, grab lunch, join the side conversations. And if those moments aren’t accessible, we’re being excluded from the most valuable parts of the day. Having sign language interpreters available throughout all event elements; keeping quiet rooms open; offering seated areas during networking; telling people food and drink menus in advance; offering sighted assistance for intros; having portable hearing loops in place; or providing enetworking options. These are all things you can do to show you actually want to host an inclusive event in full, not just meet minimum requirements. Inclusion isn’t a scheduled item. It’s a commitment. #DisabilityInclusion #Disability #DisabilityEmployment #Adjustments #DiversityAndInclusion #Content