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