237. Advice for Founders -- Reaching out to VCs, Pitching over Zoom, and Closing Capital Amidst a Pandemic (Nick Rishwain, Hannah Konitshek, Nick Moran)

The Full Ratchet (TFR): Venture Capital and Startup Investing Demystified

Nick Rishwain and Hannah Konitshek of The LegalTechLive Podcast interview Nick to discuss Advice for Founders -- Reaching out to VCs, Pitching over Zoom, and Closing Capital Amidst a Pandemic. In this episode we cover:

• How have valuations been impacted from the pandemic?
• How long will lower valuations persist?
• Are VCs actively doing deals right now?
• What's the most common mistake that founders make when approaching you for funding?
• How much information would you prefer a founder share with you upfront (deck, financials, incorporation, docs, etc.)?
• How often have you met a founder early, been added to their monthly update list and then come back to make an investment?
• Should founders become more clinical when selecting investors?
• How do you convince founders on New Stack as an investor?
• There is one area that New Stack is really hands-on -- what is it?
• What are some things a founder can do to get funded while he's only got a well thought out idea and business plan?
• Many founders don't know if their business is venture scale. How do you determine if a business is venture-backable or not?
• How does a sector that hasn't had huge exits at large multiples (like LegalTech) impact the way you assess startups in that sector?
• How do you evaluate high recurring revenue vs. low recurring revenue?
• Do you have any suggestions for a founder that is pitching now that it is completely remote?
• Overall advice you're giving your portfolio companies right now?

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