Two years ago, our team at First Round, led by Partner Bill Trenchard and VP Platform Brett Berson, began to quietly build out a program to help our founders navigate the choppy waters of follow-on fundraising. Long had we observed founders caught off guard by what was needed to raise their Series A after having a relatively easy time at the seed stage.
Realizing how well positioned we were to help, we built a program called Pitch Assist — a four to six week bootcamp for our startups that are getting ready to raise follow-on capital. At the end of the program, they emerge with a well-designed deck, a strong narrative, and a clear strategy for how to approach the fundraising process. Unlike normal fundraising advice, Pitch Assist is an immersive program where we advise, build presentations and rehearse side-by-side with First Round founders. Trenchard, in particular, has experience on both sides of the table, having started and fundraised for 5 companies before joining the firm.
What follows is an inside look at how we run the Pitch Assist program, and what startups everywhere can apply from what we’ve learned helping create fundraising pitches and processes for over 10 years.
Authors: Bill Trenchard, Brett Berson
Source: First Round Review
Subjects: Entrepreneurship, Venture Capital