Shubhankar Bhattacharya is Partner at Kae Capital, a leading Indian venture capitalist (VC) firm investing in early stage start-ups. He has browsed through thousands of pitches and met hundreds of Few know, but Shubhankar was once an entrepreneur. His start-up Yaqsh wanted to tap into India’s $60 billion jewellery market. Unfortunately, it died due to lack of funding.
In his recent book, ‘VCs are from Venus, entrepreneurs are from Mars’ he busts the myths that exist between VCs and entrepreneurs.
“So the next time you are frustrated with the opposite side, remember that entrepreneurs are from Mars and VCs are from Venus,” writes Shubhankar. “Appreciating the fact that the two sides are naturally different will help you to be more respectful of the differences and allow you to be more loving.”
Here is an entrepreneur-turned-VC’s guide to avoid rejection and get your startup funded:
#1 VCs appreciate referrals. This can be from other
#2 If you’re trying to pitch to a fund, the best way forward is to find out if someone in your network is connected. Use that connection to land an introduction.
#3 Once introduced, reach out personally. Bringing up the fact directly - you’re looking out for funding. Don’t beat around the bush. Convoluted messages don’t work. Offer a presentation. Just 10-15 slides that communicate all important information.
#5 If the VC likes what he/she sees, they’ll invite you for a meeting or call.
#6 The important thing here is to figure the logistics of the meeting. Nail the time, place and date. Make it definite. Don’t leave it vague in the air.
#7 Most pitches end in a note. If a VC says no, important thing is not to lose your cool. If you’re that good, it’s the VC’s loss. There are a hundred others to reach out to.
#8 That’s the ideal mindset. Be calm.
#9 Are you up for it?
#10 Then what are you waiting for?