When pursuing a startup, the primary focus that you should have during the initial stages of development is on raising funds and meeting with the right venture capital firms in the UK. The more venture capital investors to hear about your business proposal, the greater your chances of finding ample funding for your startup. This said, not all venture capital firms in the UK are equal and it pays knowing your prospects before wasting your time with investors that were never a good match for your project in the first place.
When searching for the right venture capital firms in the UK, there are certain things that you must look into, starting with similar startups that are already up and running in the market. Identify startups that are similar to your own concept, but are not your direct competitors and find out who invested in them. Populate your initial list with investors that are likely to invest in your cause.
It is also important to be specific on the stage of crowdfunding you are in. When raising a seed round, look for investors focusing on seed deals and don’t waste your time approaching investors who are mostly into early-stage, Series A and beyond deals. This will save you a great deal of time and heartache from getting rejected by investors.
Be strategic in your approach when speaking with venture capitalists. You want each meeting to be meaningful, so it’s best to come prepared with a warm intro, a good pitch, and a winning hook so you can close the deal without hesitation on the funder’s part. Remember what startups are all about—growth and potential. This is key to getting VCs to invest in your startup and continue investing in it as your business enters more advanced stages of development.
