5 pillars of a successful SERIES A or B capital raise:
1) Services or Technology
- Finalized or finalizable (within 12 months)
- Scalable
2) Target market
- Well defined market and product/services are demonstrably cost-effective (i.e. business plan assumptions are verifiable)
- If possible allowing for viral spread
3) Team
- Capable in turning prospects into customers
- Able to turn early clients into promoters
4) Anchor investor(s)
- Presentable (reputation and adequacy with your firm)
- Reasonable (in terms of valuation expectations and timing)
- Reliable (in terms of ability to financially participate future raises to about 20%)
5) Exit Route
- Identifiable (with identified strategic actors who perceive your firm as a real threat in a key market segment)
- 5 year horizon (or before) in a context of strong growth beyond
Source: Alexander Partners