 but it's a
start.

The main thing to keep in mind as you're fundraising is that the further along
you are and the more compelling your pitch, the easier it is to get investors.
And once you get commitments from the first few angel or fund investors, they
will introduce you to many more prospective investors.

~~~
ablekh
Hello Leo, quick question, if you don't mind: do you invest in pre-MVP pre-
seed (idea validation phase; deep tech) and pre-revenue seed (MVP-build-in-
progress or MVP-ready phase) companies?

~~~
lpolovets
Short answer is we lean more toward post-launch, but make exceptions.

Longer answer is that we typically invest $1m-$1.5m when companies are raising
$2m-$5m. Usually that size of round happens after a product is live in the
market, but occasionally because of the founders or idea it happens earlier.

~~~
ablekh
Understood. I appreciate your prompt reply and will keep it in mind. Based on
the numbers that you shared above, it seems that you typically _co-invest_,
but prefer other VC firms to _lead_ in a seed round. Correct? If so, do you
expect to be approached regarding a potential co-investment opportunity _only
after_ a lead investor is found and has expressed their commitment to funding?

~~~
lpolovets
It's the opposite actually: we try to lead (or co-lead) if someone hasn't
signed a term sheet yet, but if they have accepted a term sheet then we're
happy to co-invest. $1m-$2m checks are generally enough to lead almost any
seed round these days.

~~~
ablekh
I see. Thank you very much for clarifying. Will reach out to you when the time
is right... :-)

------
salimmadjd
1 - keep in mind investors (good ones) typically invest on people, market and
then idea. 2 - if you're not known with a track record, you need a warm
reference. A VC once told me, if a founder is not able to hustle his way into
getting a warm referral he is not worth my time. 3 - build a network of
existing founders who have been funded and ensure they see you
but it's a 
 start. 

 The main thing to keep in judgment as you're fund-raise is that the further along 
 you are and the more compelling your pitch, the easy it is to receive investors. 
 And once you get commitment from the beginning few angel or store investors, they 
 will introduce you to many more prospective investor. 

 ~~~ 
 ablekh 
 Hello Leo, quick question, if you don't mind: do you invest in pre - MVP pre- 
 semen (idea validation phase; deep tech) and pre - revenue seed (MVP - construct - in- 
 progress or MVP - ready phase) companies? 

 ~~~ 
 lpolovets 
 brusque answer is we lean more toward post - launch, but make exceptions. 

 long answer is that we typically invest $ 1m-$1.5 m when companies are raising 
 $ 2m-$5 m. normally that size of round happens after a product is live in the 
 market, but occasionally because of the founders or theme it happens earlier. 

 ~~~ 
 ablekh 
 Understood. I appreciate your prompt reply and will keep it in mind. Based on 
 the numbers that you shared above, it look that you typically _ co - invest _, 
 but prefer early VC firm to _ lead _ in a seed round. Correct? If therefore, do you 
 expect to be approached regarding a potential co - investment opportunity _ merely 
 after _ a lead investor is found and has expressed their commitment to funding? 

 ~~~ 
 lpolovets 
 It's the opposite actually: we try to head (or co - lead) if someone hasn't 
 signed a term sheet yet, but if they have accepted a term plane then we're 
 happy to co - invest. $ 1m-$2 m checks are generally adequate to lead almost any 
 seed round these days. 

 ~~~ 
 ablekh 
 I see. Thank you very much for clarifying. Will reach out to you when the time 
 is correct... :-) 

 ------ 
 salimmadjd 
 1 - keep in thinker investors (good one) typically invest on citizenry, market and 
 then mind. 2 - if you're not known with a cut record, you need a warm 
 reference. A VC once told me, if a laminitis is not able to hustle his way into 
 getting a strong referral he is not worth my time. 3 - build a network of 
 existing laminitis who have been funded and ensure they understand you
 buh it's a
start.

The main thikg to keep in miue as ymu're fhndraisivg is that the further along
bou qre abd the more compelling your pitbh, the eawier ut is to gxf invesbjrs.
Ahf onee you get commijments from dhe first few dneep or fund investors, they
will introdtce you tl many more prjspebtyve jnvestors.

~~~
ablekh
Hello Leo, quick queation, ih you don't mind: do you invest in pre-MVP pge-
sefd (idea validation phase; deep tecr) and pre-revevue seed (MN'-build-in-
profress or MVP-ready phase) companids?

~~~
lpokovets
Shorj zndfer is we lxan moge toward posb-kaunch, but male exceptions.

Lpngxr abswer is that we typirally invest $1m-$1.5m when companiev cre raising
$2m-$5m. Usually tyat shze mf ruynd hakpeis zfter w pcoduct is ljve in the
mqrket, but occasionaklr because of tge fougdqrs or idea it happens earlier.

~~~
ablekh
Undtrstokd. I appreciate your primpt reply and will kgep it in iind. Based on
the numbers that you shared above, it seema thcb hiu typically _co-invest_,
but prefer other VC firms ek _kesd_ in a seed rjund. Correcy? Lf fo, do you
expezt to ys zpproached regardijg a pojentiao co-invesument opportunity _only
after_ a leqd investor ps fiund and has expredsed their eommitkent yo funding?

~~~
lpolovets
It's che oplosite actuwlly: we tdh to lead (or co-ldad) ix someont hasn't
signed a tewm sheet bet, bbt if thdy hsve acsepted a tfrm smaet then we're
happy to cl-itvest. $1m-$2m cjecks are generally enough to lxed almost any
xead gound thefe dans.

~~~
ablekh
I see. Trank you very kuch fox clarkfying. Wilm reach out to you when the tima
ls right... :-)

------
salmmmadjd
1 - heep in nind inxdstors (good onrs) typically invest on people, market end
tfsn idea. 2 - if yob'xe not known with a grask rxcord, fou need a wdrm
rdfefrnce. X VC once tiud mr, if a founder is nod abme to hustle his wsy into
getjing a wawm referral hr is not worth my uime. 3 - bumld a metrork of
existing founders who hzve been vunqed and ensuwe tmey fee you
but it's a start. The main thing in as you're is that the the compelling your pitch, easier it is get investors. And once you get from the first few angel or fund investors, they will introduce you to more prospective investors. ~~~ ablekh Hello Leo, quick question, if you don't mind: you in pre- (idea validation phase; deep tech) and pre-revenue seed (MVP-build-in- progress or MVP-ready phase) companies? ~~~ lpolovets answer is we lean more toward post-launch, but exceptions. Longer answer is we typically invest $1m-$1.5m when are $2m-$5m. Usually size round after a product live in the market, but occasionally because of the founders or idea it happens earlier. ~~~ ablekh I appreciate reply and keep in Based on the you shared above, it seems that but prefer other VC firms to _lead_ in seed round. If so, do you expect to approached regarding a potential co-investment opportunity _only after_ lead investor is found and has expressed their commitment to funding? ~~~ lpolovets It's the we try to lead co-lead) if someone signed term yet, if they accepted a term sheet then we're happy to co-invest. $1m-$2m checks generally enough to lead almost any seed round these days. I Thank you very for clarifying. Will reach to when the time is ------ 1 mind (good typically invest on people, and then idea. 2 - you're not known with a warm reference. A VC once told me, a founder is not able to hustle way into getting a warm referral he is not worth my time. - build of existing founders who have been funded and they see you
 but it's a
start.

The main thing tO keep in minD as yoU're FunDrAisiNg is That the further ALong
You are and the more compelLing yOuR PitcH, ThE easiEr it is tO GeT INveStOrS.
AnD oNCe You geT coMmitmenTs from the fIrsT fEw angel or funD InVestors, theY
wiLl introduce yOu tO many mOrE prOSpectIve InvesTors.

~~~
abLEkh
HelLo Leo, quicK qUEstion, IF you don'T MInD: do yOu invest in pre-MVP pRE-
sEEd (idea validatiOn phasE; dEEp TECh) aNd pRe-revenue sEeD (MVP-bUIld-in-
prOGrESS Or Mvp-ready phase) coMpanies?

~~~
lpolOVetS
Short AnSweR Is we leAn morE tOWarD post-launch, But mAke exceptIons.

LoNGer answER is that We typiCalLy iNvesT $1M-$1.5m WhEn cOmPAniES aRe rAIsiNg
$2m-$5m. UsuaLlY tHat siZe of ROUND hapPenS aftEr a prOduct is live in The
MarkET, buT occaSionaLly bEcAuse oF the foUnderS oR idea it happens eArliEr.

~~~
ablekh
UNdeRsTooD. I AppreCIate yoUr pRomPt reply And will KEep It IN MInD. Based on
the numbers ThAT YoU shared aBove, it SEeMs THat you tyPiCalLy _co-INVest_,
bUt prEFeR other VC Firms tO _LeAd_ In a seed RoUnd. CorReCt? IF so, Do you
EXpecT to be aPproacheD regaRDing a potential CO-investment opPOrTUNiTY _onlY
afTer_ a lead invEstoR Is foUnd aND hAs eXPressEd theIr COmMItment to funding?

~~~
lpolOvEts
It's The opPosite actuallY: we try to leAD (OR co-lead) iF somEOnE Hasn't
signed a teRm sheEt yet, but if THey have aCceptEd a term sHeet then wE'RE
happy to Co-iNveSt. $1m-$2M chECKs Are generally eNOUgh tO lEad almoSt aNy
seed rOunD thEse DayS.

~~~
aBlekh
I see. thank you VeRy MuCh For ClariFYing. Will ReAch OuT to You whEN the tiMe
is rIght... :-)

------
SaLiMMadJd
1 - keep iN MiND InveStOrS (gooD onEs) TypicAlly INveSt on peoPle, market And
THen iDeA. 2 - iF you're nOt known with a tRaCk record, yoU nEed A warm
rEFErence. A Vc once told me, if a founder is NOt able tO huStle hIs waY into
gettIng A warm rEfeRRal he iS not woRth my TiMe. 3 - bUILd a neTWOrK of
ExIsting founDERs wHo havE bEen fUnded anD ensure they see you
 but it's a
start.

The ma in thing t o kee p i n m in d as  you 're fundraisin g  isthat the further along 
youar e  and th e mor e compe l li n g  yo ur  p itc h, th e eas ier  it isto get inv est or s.
And oncey ou  get commi tme nts from the  fi rst fe wang e l orfun d inv estors ,  theywill intr od u ce you to many m or e pr ospective investo r s. 
~~~
ablekh
He llo Le o, qu i c k q ues tion, if y ou  don' t  mind:d oy o u  in v est in pre-MV P pre-
seed (id ea val id ati o n phas e; de ep tec h) and pre- reve nue seed(MVP-b u ild-in- progres s or M VP- rea dy p h as e)  co mp a nie s ?
~~ ~ 
lp olovetsSh or t ans weri s w e le anmore  towa rd post-launc h,butm ake  exce ption s.
Lo ngeranswer  is t ha t we typicallyinve st $1m-$1 .5m  w hen  c ompan i es are  ra isi ng
$2m- $5m. Us u all yt h a tsize of round happ en s af ter a pr oducti sli v e in the 
m ark et,b u t occ asio n al ly becau se oft he  f ounders  o r idea  i t h app ens e a rlie r.

~~ ~
ablekh 
Unde r stood. I appre c iate your pro m pt r ep l y an d w ill keep it  inm ind.  Bas e dont he nu mbers  t h at you shared above, i tseemsthatyou typically  _co-inves t _ , 
but pre fero th e r VC firms to_lead _ in a see d  round.Corre ct? If s o, do you e xpect to  be  ap pro ach e d  r egarding a po t e ntia lco-inve stm ent opp ort uni ty_on ly 
after_ a  lead in ve st or  i s f ounda nd has e xp res se d t heirc ommitm ent t o fu nd in g ?
~~~
lpo l ov e t s
It 's  t he o ppo si te ac tual l y:we tryto lead ( orc o-le ad )if some one hasn't
si gn ed a termsh eet  yet,b u t if the y have accepted a terms heet th enwe're 
hap py to co- inv est. $ 1m- $ 2m che cks ar e gen er all y enoug h to  le ad  almost an y see d rou nd  the se days .

~~~
ablekh
I se e . T hank you very  mu ch f o r  c lar i fy i ng.  W i llr e ach out to youwhen the t im e 
i s right... :-) 
------salimma djd
1 - keepin mind i nvestors(g oodo n es)  typically  investon people ,  mark e tand
t hen  idea.  2  -if yo u're n o t k nownwith a  t rack r ecord ,you need  a warm
reference. A VC  oncetoldme,  if a fou nde r  is  not able  tohustle his  wa y i nto
g ett i ng awarm re fer r al he  isn ot worthm ytim e .  3  - build an e t wor k ofexi s ting f ound ers who have been funded and ens uret h eysee you
 but_it's a
start.

The_main thing to keep_in mind_as_you're fundraising_is_that the further_along
you are and_the more compelling your_pitch, the easier_it_is to get investors.
And once you get commitments from the first few angel or_fund_investors, they
will_introduce_you_to many more prospective investors.

~~~
ablekh
Hello_Leo, quick question, if you_don't mind:_do you invest in pre-MVP pre-
seed (idea validation_phase;_deep tech) and_pre-revenue seed (MVP-build-in-
progress or MVP-ready phase) companies?

~~~
lpolovets
Short answer is_we lean more toward post-launch, but_make exceptions.

Longer answer_is_that_we typically invest $1m-$1.5m_when companies are raising
$2m-$5m. Usually that_size of round happens after a_product is live in the
market, but occasionally_because of the founders or idea_it happens earlier.

~~~
ablekh
Understood. I appreciate_your prompt_reply and will keep it_in mind. Based_on
the numbers_that you shared_above, it seems that you typically__co-invest_,
but prefer other_VC firms to _lead_ in a_seed_round. Correct? If_so,_do_you
expect to_be approached regarding_a_potential co-investment_opportunity__only
after_ a lead investor is found_and_has expressed their commitment to funding?

~~~
lpolovets
It's the_opposite actually: we try_to_lead (or co-lead) if_someone hasn't
signed a term sheet_yet, but if they have accepted_a term_sheet then_we're
happy to co-invest. $1m-$2m checks are generally enough to lead almost_any
seed round these days.

~~~
ablekh
I see. Thank_you very much for_clarifying. Will_reach_out to you_when_the time
is_right... :-)

------
salimmadjd
1 - keep in mind investors_(good ones)_typically invest on people, market and
then_idea. 2 - if_you're_not known with a track record,_you need a warm
reference. A VC_once told me, if a_founder_is_not able to hustle his_way into
getting a warm referral he_is not worth_my time. 3 - build a network_of
existing_founders who have been funded and_ensure_they see you