Venture capital is a powerful tool for entrepreneurship—one that can help overcome some of the numerous challenges of starting and scaling a new business. But the path of deciding if, when, and how to raise early-stage venture capital is navigated most easily by those with past experience, insider knowledge, and the right connections. It’s notoriously easy for founders to take wrong turns in their path to successfully finance a company.
Learning how to fundraise doesn’t have to be so painful—or so costly. Anyone aspiring to build a company should have access to the experiences and knowledge of those who have gone before. We’ve pulled together 40 experts—lawyers, founders, and investors—to build a practical Guide that helps founders approach the process with confidence.
15 in-depth sections. Each written to be read in under 2 hours.
Written by practitioners. Edited by professionals.
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We believe the reading experience for book-length resources can go beyond paper or e-books. Reading on Holloway means a distraction-free, interactive format to help you find what you need, when you need it, in your browser. Digital access to a Guide also means access to ongoing new content, curated commentary from experts and readers, and features like search and bookmarks.
Definition Product-market fit (product/market fit or PMF) refers to the notion that there is a point at which a given market responds so positively to a company’s product that the product “fits” the market’s needs. A precise point at which “fit” has been achieved does not exist. Instead, product-market fit represents a continuum of traction that ranges from absolute clarity that a company does not have product-market fit to maybe they have product-market fit to experts disagree whether they have product-market fit all the way to it’s beyond all doubt they have product-market fit.
danger️️ Even if you’ve negotiated a on the portion of your investors’ legal fees you’re responsible for covering, your counsel’s fees can get out of control if you aren’t careful. If your lawyers are arguing about anything meaningful, you should tell them to bring it to you before it goes back and forth between different legal teams more than once.
confusion Not everyone has embraced the pre-seed term, which some consider overly specific and constraining. Until recently, a company’s earliest were simply called seed stage firms. Some firms that consider themselves seed-stage will invest pre-product, all the way up to the last check before a .
controversy A warm intro from a close friend or colleague never hurts.* But not everyone agrees you need to be close with the person making the intro. So long as the introduction is credible, it can be a good start, even if it’s not necessarily an endorsement.*
At Holloway, we imagine a place on the web where depth, quality, and high-value writing are the norm. A place where experts’ ideas are accessible to anyone. Where thoughtful, inclusive, and well-written resources win over quick takes, self-promoting blog posts, and content marketing.
We believe you, the reader, know the difference. It’s 2019. You recognize sites riddled with ads and clickbait headlines. Deep and comprehensive resources take expertise, time, and money to build. By buying access to a Guide, you’re supporting a place online that makes longform reading a pleasure—and allowing us to pay authors, contributors, engineers, and editors who build and improve them. We see Holloway as a new and powerful way to publish. We hope you’ll join us on the journey.
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