Eric Simons

Fundraising isn't dating. It's a sales funnel. And most founders don't track it, so 3 months go by while they're still "in conversations." Here's the brutal math (seed round, current selectivity): 100-200 investor outreaches → 15-20% reply rate → 15-30 first meetings → 5-10 partner meetings → 1-3 term sheets → 1 close If you're not tracking conversion at each stage, you're not fundraising. You're hoping. Founders who close faster don't have better luck. They have better systems: 1. They track the funnel weekly Where are leads dying? Outreach, first meeting, partner meeting? Each bottleneck has a different fix. 2. They iterate the narrative Every week: one sharper answer to the question that killed the last meeting. 3. They batch meetings 10 meetings in 2 weeks beats 10 meetings over 2 months. Compression creates urgency. Urgency creates leverage. 4. They treat "no" as data A fast no is worth more than a slow maybe. It frees you to find the real yes. If your fundraise feels stuck, stop asking "Who else can I talk to?" Start asking "Where is my funnel breaking?" I stress-test fundraising packages for founders. Deck, model, cap table, assumptions. You get a written findings memo and a 90-minute call showing you what breaks before investors do. Link in comments. #fundraising #seedstage #venturecapital #startups

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QSBS change is great news for early stage investors! The One Big Beautiful Bill brought with it changes to QSBS (Qualified Small Business Stock) which is great news for founders and early stage investors. QSBS allows for early stage investors to qualify for federal tax exemptions on gains from investments in private companies. Key Changes: Tiered Gain Exclusion- previously, investors who invested in an early stage company, had to wait 5 years to qualify for QSBS tax exemptions. Now there is a tiered system: 3 years: 50% exclusion 4 years: 75% exclusion 5+ years: 100% exclusion Increased Gain Exclusion Cap- the cap is moving from $10 billion to $15 million and is adjusted for inflation starting in 2027. Higher Company Threshold- companies previously qualified if they were valued at $50m or less, now its $75m. Overall these are all positives and something all early stage investors should be aware of. Qualifying for federal and in some cases state tax exemptions (depending on your state of residency) on gains from investments in early stage investments is a Huge Opportunity.

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