020. Oversubscribed

I saw this VC meme the other day that said that there are three types of mythical creatures:big foot,aliens,and a funding round not described as oversubscribed.It's funny because it's true.But it's true because it works.Setting that fundraising target slightly lower creates scarcity,and scarcity drives action.Even more subtly,it shows that other investors have conviction about your business.For some,for many,pool party investors,the more people that have conviction about around then the more that drives their conviction.Either yes or no.The beauty of this is that when your pool party is hot,you can go back to the other investors and tell them,"you know,I'm willing to oversubscribe this round to let you in,just because I really liked working with you.And to the founder's doing traunched rounds,I see you.I think it's worth talking about a few episodes,but I want to gather a little more data on how that's working out.So,if you're doing a traunch round,hit me up,let me know how that worked out for you.I'd love to hear about that.But for now,I want to cover the groundwork for those of you that are still out there working on your first or second seed round.It's hard.I know it's hard.Raising a venture fund is in a lot of ways like raising a seed round,and we know how hard that is.So I want to support you on your journey and that's why I created the VC Minute.Thanks for tuning in this week.I appreciate that you spent some more time with me this week and we'll be back again next week