Steph from OpenVC pfp

Steph from OpenVC

@stephnass

74 Following
47 Followers


Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Hey Thibauld, thanks for the mention and hi Joe! That's what we're trying to do at OpenVC. We provide founders with tools, like an investor list, a fundraising CRM, a deck tracking solution, etc. But more importantly, we bake several checkpoints, best practices... into the product. For example, we give you a checklist when you get started, we screen your investor outreach to help you do it right. Unironically, many founders don't like that. They want the freedom to spam VCs and screw their own raise ^^
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Thought this belonged here, too :) https://warpcast.com/stephnass/0xe437928d
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Just posted a little tutorial on how to build the perfect investor list (including links to 50+ databases). Completely free, no signup required: https://openvc.app/blog/investor-list
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
https://warpcast.com/stephnass/0x60c826a7
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Wanna raise a seed round from VCs? For most ppl, it's not as straightforward as you'd expect.
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
https://warpcast.com/stephnass/0x6348753a
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
New behavior I'm seeing: web3 startups "hiding" that they are web3. Here are two web3 startups on OpenVC. No mention of NFT, crypto, blockchain... Very unusual. Better chance to get your deck opened? 🤔
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Hey King, thanks for the warm welcome! Still trying to learn my way around here :)
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
You don't need need VC money to build: - A simple e-commerce website - A simple dating app - A simple marketplace - A simple SaaS If you leverage cloud + low-code + AI, you can realistically bootstrap your MVP to $20k-$100k MRR/mGMV. No investors needed. From there, you can raise to scale OR bootstrap some more.
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
https://warpcast.com/stephnass/0xe6d69aa3
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Who says you need VC? Chess․com Revenue: $100M+ VC: $0 Mailchimp Revenue: $700M+ VC: $0 Zoho Revenue: $1B+ VC: $0 Midjourney Revenue: $200M+ VC: $0 Butcherbox Revenue: $600M VC: $0 Dyson Revenue: $8B+ VC: $0 Who else?
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
That's great news, thanks guys!
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
"$500k committed"? Really? If you're raising on SAFE/notes, only money in da bank counts. 💰 If you're raising a priced round, a term sheet is a commit. But committed DOES NOT MEAN secured. Many VCs have called off an investment after giving a term sheet... 💀 And Verbal Commits? They are 💩.
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
I mean, England doesn't even exist at the end of the day. I don't recognize the Treaty of Picquigny.
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Showing the relationship between (a) round size, (b) dilution, and (c) valuation. Still WIP. Wdyt?
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Just in case some ppl don't realize where this graph actually comes from... https://aella.substack.com/p/my-birthday-gangbang 😁
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
🙏🙏🙏
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
Trying to explain how VC works to first-time founders. (WIP, oversimplified on purpose) Is it clear? helpful? correct?
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
I frequently (1/week) get anxious emails from founders asking: "Who invests in founders with no product and no track record?" My honest answer is: 1️⃣ Yourself 2️⃣ Family & Friends 3️⃣ Incubators & Accelerators 4️⃣ Grants & Prizes
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Steph from OpenVC pfp
Steph from OpenVC
@stephnass
🎉
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