Update Checklist - Fundraising

Update Cadence

Bi-Weekly Updates - Market changes quickly. Update every other Friday, or when significant traction/events occur.

Pre-Update Checklist

Before You Start

[ ] Review traction metrics (user growth, revenue, partnerships)
[ ] Update financial projections
[ ] Check competitor fundraising activity
[ ] Review recent investor conversations

Update Process

1. Pitch Decks (pitch-decks.md)

[ ] Traction slide current with latest metrics?
[ ] Market size updated with latest research?
[ ] Competitive landscape reflects current state?
[ ] Team slide accurate (if added roles)?
[ ] Financial projections realistic and justified?
[ ] Ask amount still appropriate?

2. Investor Outreach (investor-outreach.md)

[ ] Pipeline status updated (warm intro, meeting scheduled, term sheet, etc.)?
[ ] Follow-ups sent to all active prospects?
[ ] Warm intros tracked and nurtured?
[ ] Investor feedback incorporated into pitch?
[ ] Term sheets tracked and compared?

3. Data Room (data-room-checklist.md)

[ ] All documents current and organized?
[ ] Financial model updated with latest data?
[ ] Legal docs complete and clean?
[ ] Customer references available?
[ ] Technical documentation thorough?

Traction Metrics (Update Bi-Weekly)

Track and update: - [ ] User growth rate (MoM %) - [ ] Revenue (if any) - [ ] Active beta users - [ ] LOIs signed - [ ] Partnerships announced - [ ] Press coverage - [ ] Product milestones achieved

Investor Pipeline Tracking

For each active prospect: - [ ] Stage (first meeting, follow-up, due diligence, term sheet, closed) - [ ] Partner name and focus - [ ] Check size range - [ ] Next action and owner - [ ] Expected timeline - [ ] Feedback received

Financial Projections Model

Update quarterly or when significant changes: - [ ] Revenue projections based on current funnel - [ ] Expense forecasts realistic - [ ] Hiring plan reflected in costs - [ ] Runway calculations accurate - [ ] Unit economics improving over time

Market Context

Monitor and update: - [ ] VC market conditions (hot/cold, sector preferences) - [ ] Comparable company valuations - [ ] Recent funding rounds in your space - [ ] Exit activity (acquisitions, IPOs) - [ ] LP sentiment affecting VC behavior

Terms & Cap Table

Maintain current: - [ ] Pre/post money valuation scenarios - [ ] Dilution impact on founders - [ ] Option pool size and allocation - [ ] Board composition post-investment - [ ] Protective provisions (standard terms)

00-Command-Center: Include fundraising milestones in sprint
01-Product: Product milestones strengthen pitch
02-Market: Market size/competition critical for valuation
03-Brand: Narrative clarity important for investor storytelling
04-Marketing: Traction metrics impress investors
05-Beta: Beta traction and partnerships validate demand
06-Team: Team quality is key investment criterion
08-Operations: Technical maturity reduces investor risk

Red Flags

⚠️ If you notice: - Investor meetings stalling (no follow-ups) - Feedback focusing on same weakness repeatedly - Traction metrics declining - Market conditions deteriorating - Comparable valuations dropping - Runway <6 months without clear path to extend

Investor Feedback Themes

Track common questions/concerns: - [ ] Market size and timing - [ ] Competitive differentiation - [ ] Business model validation - [ ] Technical feasibility - [ ] Team composition - [ ] Financial projections

Time Budget

Bi-weekly update: 2 hours (metrics, pipeline, outreach) Quarterly deep dive: 4-6 hours (pitch refinement, financial model) During active fundraise: 15-20 hours/week (meetings, due diligence)

Fundraising Readiness Checklist

Before going to market: - [ ] Traction metrics compelling (>20% MoM growth, strong activation) - [ ] Product MVP complete and demo-ready - [ ] Team story compelling (domain expertise, complementary skills) - [ ] Market opportunity validated (customer interviews, competitor analysis) - [ ] Financial model realistic and stress-tested - [ ] References lined up (customers, advisors, team)

Last Updated: YYYY-MM-DD Next Review: [Bi-weekly date]