In this episode of the SaaS Revolution Show our host Alex Theuma is joined by Itamar Novick, Founder & General Partner at Recursive Ventures, who his insights and advice on how to raise your first round.
“I think that your odds of success building a startup are much higher if at least one person on the founding team has some orientation to do sales, right? If everybody’s technical and everybody’s introverted, who’s going to talk with customers? Who’s going to succeed in doing that?”
- Why he doesn’t want to make Recursive Ventures a multi-partner fund
- His decision to intentionally not take board seats
- Demystifying pre-seed investment rounds
- His advice on not raising money from VCs unless a founder *wants* to build a VC backable company – that means showing a path to $500k – $1B in revenue for seven to ten years from now
- Why fundraising is a sales effort – as well as high quality collateral, founders need to be able pitch very well and very quickly
- Why he encourages entrepreneurs to consistently build relationships with people in the startup and VC ecosystem
Listen to the full episode, watch the video below and subscribe to the SaaS Revolution Show podcast today.
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