Justus Luttig

“What do VCs really want to see in my pitch?” One of the resources we direct founders who ask this to at IfWeRaise are the incredible articles by Tunde Adekeye, PitchDoctor. Tunde distils so brilliantly what founders really need to focus on, and how to stand out, with deep empathy for both sides. That’s why we were soooo keen to get him to do an IfWeRaise webinar, free for anyone to join to share his wisdom far and wide! If you’re free this Friday make sure to signup! And if you have founder friends make sure you’re sharing this with them too. #fundraising #pitching #vc #venturecapital #startups #investment

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Applications for the Included VC's global VC fellowship for Class 2024 are now open. Included VC's Global Fellowship is a free & fully funded learning experience with a mission to educate, inspire, coach, and place top underrepresented talent into the VC industry. Their application deadline is Aug 5, 2024 I have the privilege of currently attending the Venture Institute Cohort 3 program administered by VC Lab, but I'm sharing the Included VC fellowship program because they have the same mission to help individuals from all backgrounds break into Venture Capital. The more programs we have like the Venture Institute and Included VC fellowship, the more opportunities it gives to those who want to launch a career in VC. #VentureCapital #VentureCapitalCareers #Startups

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If you are curious to learn about angel funds, their difference to other angel investing models and how it reduces the risk of investing in startups, come listen to this episode of VC10X podcast. Here, Prashant Choubey and I talk about this and much more. Thank you Prashant for this conversation! #angelinvesting #startups #innovation #angels #angelfunds #coreangels

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The Council's first SPV of 2024 is down in the books and oversubscribed. Running SPVs where we have pro rata or extra allocation in fund deals is a muscle we are building pretty late in the game as a firm. As a solo GP with a tiny team, it's crippling to think of the extra work required and risk of not meeting platform minimums to run an SPV. But 7 of our port co's have recently raised follow on funding where we had pro rata. These are awesome deals for our LPs, angel members, and syndicate community. We simply can't afford to let them slip through the cracks. These allocations are only becoming more valuable as our firm grows, so we must start NOW! Proud to say this one went off without a hitch and our syndicate community is small but THRIVING. Wish us luck as we keep building. Note our SPVs are now on Sydecar. The best way to get access is to know someone on The Council Fund team and be on our SPV email list. **What's an SPV?** An SPV is a Special Purpose Vehicle. It allows multiple angel investors to pool together into one larger investment into a company. This helps the founder keep paperwork and investor relations to a minimum (less names on the cap table = simplicity!). When people say they're investing with a "syndicate" or they are "syndicating a deal," SPV is the entity and process by which they do that. A "syndicate" is like a community of people that invest via SPVs together.

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Running a startup is lonely. As the co-founder and managing partner at Bonfire Ventures and Double M ($1B AUM), I’ve invested in over 100 companies, with notable seed investments in Trade Desk (IPO, $40B market cap), Scopely (sold for $5B), Figment (valued at $1.5B), and many others.  I'm getting lots of DMs from talented founders and aspiring VCs seeking guidance on fundraising and product market fit. So, I've opened up 5 exclusive 1:1 mentorship slots on @Intro. 50% of the proceeds will go to charity. What can we cover together? ✔️ Fundraising from VCs ✔️ Feedback on your pitch ✔️ Advice on selling your company ✔️ How to start and manage a VC fund Disclaimer - only book time if you are interested in no BS advice Honored to be alongside world-class Experts like @Andrew Chen (partner at a16z), @Eric Futoran (founder of Scopely) & @Katelin Holloway (founding partner at 776 Ventures). Comment “interested” and secure your spot now: intro.co/markmullen

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You can now book time to chat with Mark Mullen! Suggested topics: ✔️ Fundraising from VCs ✔️ Feedback on your pitch ✔️ Advice on selling your company ✔️ How to start and manage a VC fund Disclaimer - only book time if you are interested in no BS advice

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📰 Solo VCs are rising in popularity once again. This means only one General Partner is leading the firm, versus multiples. 💔 Why? There are GP breakups going on all around us after partnerships have been tested by the market for years now. The bar to co-found a venture firm with a partner is very high. Those GPs that thought they might graft another one on in the short term to share the load are stopping in their tracks to deeply consider those implications. 🌱 Many are opting to bring in more junior talent and grow them into Partner roles instead. It’ll take time and capital to be able to do that as the firm grows. Talked to 3 diff GPs about this at dinner last night and we’re all leaning toward that approach in our short and long term planning. 💡 FYI - this is just an observation of the moment we’re in. There are plenty of firms thriving with full partnerships as well as solo GPs. But it’s worth calling out that new partnerships are particularly risky right now, especially if the partners haven’t worked with each other for a long time.

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We're screening for new community members at INTJ Fund. Learn if we are a good fit for you. Our community composition is over-indexed in: - INTJ and ENTJ women founders and/or engineers - Developer Relations / technical Marketers (all genders and personalities) - Investors (angel and institutional) interested in investing in women engineers Our prime directive at INTJ Fund is to be the best at helping INTJ and ENTJ women: 1) make more money 2) have more fun 3) have better mental health If we are the best at these three things, we believe we will have one of the most valuable communities in the world. If you concur, get in touch with the google form below: https://lnkd.in/gu-QK3hD Topics of conversation: - Business Strategy - Psychology - Personal Growth - Relationship Optimization - Hobbies Topics to avoid: - Flirting - Politics We're not for everyone. But if the things I share sound appealing, please fill out our intake form: https://lnkd.in/g9tcUZVg If you know someone who might be interested, tag them in the comments. Our soirees will be hosted by myself and Julia Anderson in LA, SF, NYC and Toronto. #venturecapital #INTJ #ENTJ #womeninstem #developerrelations #devrel

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Sequoia Capital is the leading venture capital for startups Their team put together a framework for early-stage founders to reaching your desired product-market fit. There's a couple sectors you might find yourself in: 1. Hair on Fire → You are solving an obvious and urgent problem for your customers. Market is saturated and competitive, therefore to succeed you need to create a best-in-class solution (example: Zoom). 2. Hard Fact → You are solving a pain point the customer took for granted and is not trying to actively resolve. You need an approach that’s novel enough for a problem that matters enough, to be worth making a change (example: Notion). 3. Future Vision → Your solution looks like it’s here 20 years early. There’s no problem, no obvious customer base, your vision seems like a Christopher Nolan movie. The obstacle here is disbelief. Customers must find your product/solution irresistible. Either the concept is familiar but sounds impossible (like abundant cheap energy from nuclear fusion) or no one ever imagined it existing (iPhone). Which one of these do you think is the "easiest" to navigate? Which one would you personally choose for your product? Enjoy this? Follow Oliver Alan Stafurik for daily startup & VC tips and check out my free newsletter: https://lnkd.in/eHcesa_V. ✋🏼

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One of the biggest myths in VC is the one about picking your investors carefully because of the ‘long relationship you will have’ Yes, this can be true for the small percentage of breakout companies, BUT these will be in the position to replace early investor with later ones – if you don’t like them, kick them out from the board room in the next round However, for the vast majority of companies, you WILL NOT be the fund returner for your VC – and that ‘long relationship’ quickly turns into either a) pure silence, or b) the Partner being ‘swamped right now’ and replacing themselves with a Junior Intern Analyst Associate who just graduated from McKinsey (it’s a school, right?) on your board So much for that long relationship :)

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Navigating the journey to secure funding is critical for any startup founder. While the potential rewards are significant, the path is fraught with common pitfalls that can derail even the most promising ventures. Here’s what to watch out for and how to steer clear: 1. Lack of Preparation One of the biggest mistakes is approaching investors without adequate preparation. Ensure your business plan is robust, your financials are in order, and you have a clear, compelling pitch deck that articulates your value proposition and business model effectively. 2. Ignoring Fit Not all money is good money. Seeking investment from anyone willing to give you money can lead to problems down the line. It’s crucial to look for investors who not only bring in funds but also align with your startup’s culture, goals, and growth plans. 3. Overvaluing the Business Overoptimistic business valuations are a common stumbling block. They can turn off investors and make negotiations difficult. Ensure your valuation is realistic and justifiable based on market conditions, revenue, growth trajectory, and comparable businesses. 4. Poor Communication Communication is key in the fundraising process. Failing to communicate your business strategy clearly, how the funds will be used, and the expected outcomes can lead to a lack of investor confidence. Be transparent, concise, and prepared to answer detailed questions about every aspect of your business. 5. Not Understanding Investment Terms Complex investment terms can have long-term effects on your business. It’s essential to fully understand and negotiate these terms rather than rushing to close the deal. If necessary, seek legal advice to ensure you’re aware of the implications of the terms you’re agreeing to. 6. Underestimating the Time Required The funding process can be lengthy. Underestimating the time it takes from initial contact to funds received can lead to cash flow problems. Plan accordingly and ensure you have sufficient runway to cover operations during the fundraising process. 7. Neglecting Existing Relationships While chasing new funding, don’t neglect your existing relationships with stakeholders, customers, and especially previous investors. These relationships can be leveraged for new opportunities, references, and further investments. Avoiding these pitfalls requires mindfulness, preparation, and a strategic approach to fundraising. With the right preparation and mindset, you can enhance your chances of securing not just funding, but the right funding that will help your startup thrive. Are you a startup looking for funding? We, at A1 Advisory, can help you raise! If you want us to help you, just fill in the details of your business - https://lnkd.in/dAJm-TYJ #StartupFunding #Entrepreneurship #InvestmentStrategy #BusinessGrowth #StartupTips #VentureCapital #BusinessPlanning

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DePIN & RWAs dominance isn't as far off as most people think. Across every innovative cycle, three fundamental pillars emerge: foundational technology development, proliferation of infrastructure, and a surge in application development. As we venture into the third cycle, DePIN and RWA protocols are poised to become market leaders paralleling the dominance witnessed by infrastructure projects from 2015 to 2024.

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SuperKalam (YC W23) Raises $2 Million in Seed Round Led by Y Combinator! SuperKalam, an innovative AI-powered personal mentoring platform for students prepping for competitive exams, has secured $2 million in a seed funding round. This round was led by the renowned Y Combinator and Fundersclub, with contributions from notable investors like YC Partner Puneet Kumar, Goodwater Capital, Nurture Ventures, SuperCapital, and Pareto Ventures. Founded in July 2023 by Vimal Singh Rathore 🇮🇳 and Aseem Gupta, SuperKalam is revolutionizing the ed-tech landscape with its personalized learning paths, instant doubt resolution, and comprehensive progress tracking through AI-driven analytics. With over 60,000 students already on board, this fresh funding will help SuperKalam expand its reach, enhance user experience, and drive continuous innovation. This is co-founder Vimal Singh Rathore's second successful ed-tech venture, following Unacademy's acquisition of his previous startup, Coursavy, in 2020. Exciting times ahead for SuperKalam! Read More: https://lnkd.in/g-Mt3Kgp #Edtech #StartupFunding #YCombinator #AIinEducation #SuperKalam #Innovation #EdtechNews #PersonalizedLearning #CompetitiveExams #SeedFunding

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Is something changing in climate tech in Africa? 👇 ⚡ Historically, over the past 5+ years, Energy (mainly solar energy) has always been the main sub-sector within climate tech startups funding in Africa. Think companies like Sun King, Bboxx, d.light. These typically represented 60%-75% of all the climate tech funding any given year. However, since the beginning of the year, this ratio has dropped to around 40% on the back of other climate tech sub-sectors growing: 🌾 Agriculture: large deals this year included Apollo Agriculture, Complete Farmer, Tomato Jos 🛵 Mobility: with deals this year like Roam, BasiGo or Dodai 📲 Fintech: a good example here is the recent PULA deal Definitely an encouraging trend we are closing following at Catalyst Fund with already 19 deals (...and I hear a 20th one could be announced very shortly 😉) in Africa across no less than 9 different sub-sectors within Climate Tech! ...and we want to back even more startups in this critical sector, so don't hesitate to drop me an email with your pitch deck: maxime@thecatalystfund.com 📧

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Some venture capitalists criticize the high startup valuations from Y Combinator. However, an analysis by Kingscrowd found a wide disparity in the valuation and capital raised between VC-backed startups and Non-VC backed startups on Equity Crowdfunding platforms. Here are some of the findings from Kingscrowd: - The median valuation of VC-backed startups was nearly 50% higher than non-VC backed startups. - The average valuation for VC-backed startups was 41% higher than non-VC backed startups. - The median capital raised by VC-backed startups is 82% higher than non-VC backed startups. - The average capital VC-backed startups raise is nearly 110% higher than non-VC backed startups. The high startup valuation reputation given to Y Combinator mostly affects institutional investors. Now the high startup valuations of VC-backed startups on Equity Crowdfunding platforms mostly affect retail investors. #VentureCapital #Startups #EquityCrowdfunding #RetailInvestors

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After building 5 businesses over 20 years, I launched a VC fund with 2 friends & colleagues. Since then, we've funded 15+ companies & deployed over $20M, backed by a powerful community of founder/operator LPs. Here's our story, and how you can create your own VC fund in 2024: In 2021, my dear friends & fellow founders Josh, Kurt & I were hanging out in Mexico. We discussed our experiences as entrepreneurs & what our dreams were for the future. It was clear that supporting founders was a key priority. So we decided to build a new kind of investment firm. We pooled together 60+ experienced founders, operators & friends to invest in tomorrow's top entrepreneurs. And called it The Family Fund & Founder Community. Would you love to do this? Let's dive into how to create your own VC fund: 1. Invest first Invest for 5-10 years & create a successful track record. Whether this is angel investing with your own money or serving as an investor for another firm, you have to cut your teeth on the street. Josh and I had been angel investing for ~10 years before launching F3C. 2. Build a network Build a network of people who trust you & like doing business with you. Raising money from people primarily comes down to trust, and trust is created through: (a) Competence: People must believe you have the skills/access/intelligence to invest in the right companies. (b) Authenticity: They must feel that they’re dealing with the authentic you and someone comfortable in their skin. (c) Empathy: Care for others and want the best for them, not just for yourself. 3. Access is king Put yourself in a position where you have great access. Regardless of what people tell you, access to the best deals still matters most when it comes to investing. If you don’t have access, nothing else really matters. Here's how to create access: Put yourself at the intersection of where deals happen. This is either at an existing PE/VC firm or in another type of company whose business is to be around founders before or after they’ve raised money. 4. Gain specific expertise in a field Note: Just because you're a great founder or company builder doesn't mean you'll be a great investor (founders are often too optimistic when they first invest). But deep experience & expertise where you're investing is a requirement. My partner Kurt built & sold Vital proteins. He is a CPG product, manufacturing & brand wizard. My partner Josh is a master of community, talent & connection. The best I’ve seen. And I live & breathe marketing, GTM strategy & scale (with an obsession around health/wellness which is where we invest). What's your advantage? This isn’t an exhaustive list, but it can get you started on the right track. — If you enjoy this, ♻️ repost to help your network. Follow me Sean Kelly for more insights on health, investing & entrepreneurship. To learn how to achieve breakout founder performance sign-up for my free weekly newsletter: https://get.founderiv.com

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I'm excited to be leading my third YC demo day fund for the S24 batch! I've been involved with YC since 2015, first going through YC myself, staying closely involved with the community for 7+ years, and culminating in working there as a Visiting Partner, where I invested in over 120 companies and helped them raise over $200M in capital. Over all this time, one thing is clear to me: YC founders are only getting better and better, and YC companies remain the cream of the crop for early stage founders. And it's not because companies come out of YC "fully baked" -- many of the best companies went through Demo Day with no revenue, or even pivoting just a few months afterwards. Yet, over 5% of this batch will likely become unicorns. This batch is appears to be the biggest one since 2021, which will make for the most interesting (and more competitive) cycle in a long time. I have opened this fund up to friends and connections who would like to join me. If you are interested in participating, click the link below for special friends-only terms! https://lnkd.in/eSKEbqQJ

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