246. Summertime Slowdown

Text your thoughts directly to Rich.

In fundraising, the end of June is a lot like the end of November. If you don't have a term sheet on the table, you're not going to get one in the next month.

About AVL Growth Partners
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About SpringTime Ventures
SpringTime Ventures seeds high-growth startups in healthcare, fintech & insurtech, and logistics & supply chain. We look for founders with domain expertise, forging a path with a truly transformative technology. We only invest in software-based businesses in the USA. We bring a people-focused approach, work quickly, and reach conviction independently. Our initial check size is $600k. You can learn more about us and our approach.

Transcript

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This is Rich Maloy with SpringTime Ventures, bringing you the VC Minute, quick advice to help startup founders fundraise better.

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I want to thank everyone for being amazing loyal listeners to the VC Minute.

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It means so much to me.

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Thank you.

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There is more content coming for season four, I promise.

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This podcast is a solo production, and if I'm being honest with myself, it's not core to my role as a VC.

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As much as you may want to make the case that VCs being"thought leaders" and blowing hot air into a microphone does seem to be a full-time job.

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The reality is that it has to take a backseat when I'm slammed.

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And I have been.

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But life is good here at SpringTime Ventures and at Casa Maloy.

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And we'll be back after a few more weeks because, like all good working peoples in the Northern hemisphere, I have a family vacation lined up.

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Which is the theme for today's episode: raising capital over the summer.

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The end of June is a lot like the end of November.

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In November, if you don't have a term sheet signed by Thanksgiving, you're not going to get one before the end of the year.

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Likewise in the summer, if you don't have a term sheet signed before June is out, you're not going to get one between now and August.

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Why?

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Well, vacations, obviously.

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But the real situation is coordinating schedules and all of the work that goes into finalizing a round.

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Getting investment committee lined up can be a nightmare, as everyone takes turns going on vacation.

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And there's still a ton of work to do after term sheets, namely deal docs.

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This takes coordination across multiple orgs: VCs lawyers on both sides.

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And then that pesky fund that wants a side letter and that other one that you have to hunt down to get signatures on.

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All of that human coordination, minutia is made into a tangled mess as everyone is flying to Portugal and points beyond.

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So.

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Today's June 21st.

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Do you have a term sheet?

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Will you get one next week?

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No?

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Shift your focus back to the business, make those metrics shine.

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Keep those investors updated, then come back to market in August.

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And take some time off for yourself while you're at it.

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As for me, you'll hear from me again in July.

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As always time is our most precious asset.

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And I am grateful that you spend some of it with me.

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And especially a big thank you to AVL Growth Partners who is supporting season four of the VC Minute, and I have some special content coming up that is only possible through their support.

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Why go fractional?

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Picture this: a CFO with an average of 19 years of senior finance CFO experience, alongside controllers and accountants with 15 years under their belts.

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This isn't just bookkeeping.

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It's the expertise your company needs to navigate economic challenges.

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If you want to take your company to the next level and need the experience required to make it happen.

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Visit AVL growth.com right now.

246. Summertime Slowdown

Throw the hottest pool party in town