
“Don’t meet with junior VC’s…only partners.” This is terrible advice. Those junior VC’s are the key to closing your round.
Every founder wants to meet the famous VCs. That’s the problem: there aren’t enough hours in the day for them to meet everybody!
If you message them, odds are they’re going to kick your message over to their junior employees. That’s why they hired them.
If those junior VC’s like what they see, they’ll pass your deal up to the partners. Having their endorsement makes you more likely to get a check.
If you refuse to meet the junior VC, you probably won’t get a check from that firm. You don’t want to close yourself off from firms for no reason.
The more firms you’re in front of, the more likely you are to get competing term sheets. This will let you dictate the price and terms.
And don’t forget, junior VCs become partners!
Our industry is very small. The same people work together year after year.
If you snub that junior VC today, he may not meet with you once he’s a partner.
This could close off funding you need in the future. People remember slights for a long time.
Is it possible you’ll waste your time meeting with that junior VC? Sure!
But lots of meetings with VC partners go nowhere too. So meet with these junior guys.
If you can sell them on your vision, you just might find yourself holding a term sheet.
More from the blog:
You Finally Closed Your Funding Round — Time to Panic?
From Cold DM to Wire in 5 Days: Why I Move Fast on Great Startups
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