Early Stage Financings: Where We Are Now

With the benefit of a few weeks of data since the paradigm shift in global investment mentality, Fenwick startup partner Evan Bienstock and seasoned early stage investors address audience questions and discuss the topics below:

  • What are best practices for recently funded companies?
  • How should pre-funded companies be thinking about their first round?

Here are a few key takeaways from the discussion:

  • In most cases, startups should wait at least another month before pitching VC investors; at that point their immediate "triage" will hopefully be done
  • Companies should optimize for 24 months of runway
  • When managing expenses, be more conservative than you think you need to be
  • This is not a liquidity crisis—many venture capitalists have recently raised capital
  • We will get through this and things will improve


  • Evan Bienstock, Startup Partner, Fenwick & West (Moderator)
  • Hadley Harris, Founding General Partner, Eniac Ventures
  • Brad Svrluga, Co-Founder and General Partner, Primary Venture Partners
  • Ellie Wheeler, Partner, Greycroft