Dear SaaStr: Can a startup without any prior experience raise money from venture capitalists (VCs)?
Of course, but the answer is a bit more complicated than that.
The less proven you are, generally speaking, the further along you need to be to raise from VCs.
- A founder that sold their last company for $200m? They can probably raise pre-product.
- One of the best teams out of OpenAI, going out on their own? Ditto
But founders out of nowhere, really, with no track record? You need to prove product-market fit and strong growth, at least relatively speaking in the early days.
A bit more here:
Dear SaaStr: When is a Startup Ready to Raise Venture Capital These Days?
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via https://www.aiupnow.com
Jason Lemkin, Khareem Sudlow
