The way venture capitalists think about fundraising can be a black box. But investors must think about their go-to-market strategy for raising their own funds, just as much as they think about how their portfolio companies find their market fit. All season on Build Mode, we've explored how founders should approach marketing, but this week we're exploring how VCs sell themselves to founders as trustworthy partners and to LPs as worthwhile investments. Isabelle Johannessen spoke with Graham & Walker's Leslie Feinzaig and XYZ Venture's Ross Fubini about raising their first funds and how that experience has given them empathy for the founder fundraising experience. Feinzaig came into venture capital with very few industry connections. 'It was hundreds of pitches. It was raised almost entirely from individuals. We ended up with 105 LPs,' she said. 'If you don't have a track record, then what they're investing in is you. Like it is basically, like, raising a gigantic angel round with no...
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