Summer is coming!
It smells summer all across Europe. For most of us, it’s a good thing but if you are a startup entrepreneur who needs cash before the end of September, it’s not. Worst period to raise money.
Investors tend to be MIA or at least very slow movers in the summertime.
So if you need funds before October, it’s time to close a round. The biggest issue at early stage is to align all angel investors on the closing date. You will find interest but Angels often move at their own individual pace.
The best way to get out of that catch 22 (you have the amount requested committed but not all at once) is not a round of equity but a convertible note or a SAFE. A good way to keep the investment period for a prolonged period of time, 3 months for example.
You fix the cap, discount, total amount raised, etc.
It will help you getting a percentage of money before summer time, and keep your growth pace.
Go with the flow, if your angels prefer one or the other, I think it is not worth the fight, the key is to get enough money to continue developing your company.
So get that deal closed asap, summer is coming …
Enjoy your week