Capital Raising — March 2025
Preparing for your first institutional raise: what investors actually want to see
A well-prepared information memorandum does more than tell your story — it signals maturity. We break down the financial model, forecasting assumptions, and due diligence materials that move a raise forward.
A first institutional raise is a different discipline from raising among friends, family, and angels. Professional investors move quickly to the numbers — and what they find in your financial model, your forecasting assumptions, and your data room tells them as much about your business as the pitch itself.
A well-prepared information memorandum does more than tell your story — it signals maturity. Investors want a financial model built on defensible drivers, forecasts that reconcile to historical performance, and due diligence materials that are complete before they're requested. Gaps and inconsistencies don't just slow a raise down; they reprice it.
Our advice to founders is to start preparing at least six months before opening the round. Clean financials, a tidy cap table, and documented assumptions are what move a raise forward — and they're all within your control well before the first investor meeting.