How Michia Raised $250k from Angel Investors in 3 weeks : Fundraising Playbook

How Michia Raised $250k from Angel Investors in 3 weeks : Fundraising Playbook

In this blog I will share Michia’s step-by-step guide on how he built a network and secured meetings with angel investors.

If you lack the VC connections of someone who went to an Ivy league school, this is for you!

In this guide, we'll decode the exact process Michia Rohrssen, a successful entrepreneur, used to raise $250,000 from angel investors he'd never even met – all in just three weeks!

Let’s get into it, because we're about to break down his strategy into actionable steps you can implement right away.

Step 1: Become a Networking Ninja - It's All About Connections

  • Leverage Your Network: We all have a network, even if it doesn't feel that way at first. Grab a Google Sheet and brainstorm everyone you know who might be a potential investor (minimum $5,000 check) or know someone who could be. This can be anyone from former colleagues to conference attendees, even distant connections. Don't worry about how strong the connections are yet – just get everyone on the list.
  • Expand Your Reach: Now that you have a foundation, let's make it grow exponentially! Beside each name, write down if they're an investor, a connector (someone who knows potential investors), or both. Then, get strategic. Who else might they know that fits the bill? Use LinkedIn, social media, and your own knowledge to expand your network beyond your immediate circle. Remember, angel investors come in all shapes and sizes – even successful professionals with an interest in tech might be interested in your startup.

Step 2: Identify Your Angel Investor Tribe

  • Target the Right Angels: Not all angel investors are created equal. It's time to build a targeted list on a separate spreadsheet tab. Here's where industry focus comes in. If you're building a social network app, target investors with a history of funding similar ventures. Explore resources like Signal.VC, Crunchbase, and AngelList to discover angels aligned with your space or even your location (think local angel groups!). You can also upload your pitch deck and ask Score My Deck to build a list for you.
  • Become a Master Connector: For each angel investor you identify, the magic happens here. Can you leverage anyone in your network (from Step 1) to make an introduction? Ideally, look for someone who's worked with or invested with the angel before. But even a loose connection is a starting point. Remember, the goal is to get a warm intro, not a cold email.

Step 3: The Art of the Warm Intro

  • Ditch the Cold Emails: Investors are wary of unsolicited pitches. Resist the urge to blast generic emails. Instead, focus on connecting with someone who knows the investor well – perhaps a founder the angel has previously invested in. Briefly introduce yourself, your company, and your funding goals. Don't ask for an immediate intro; instead, request a quick chat to learn about their experience with the investor.

Step 4: Turning Coffee Chats into Investment

  • Impress and Spark Excitement: During your founder-to-founder chat, focus on making a strong impression. Don't brag, but showcase your passion and the potential of your idea. Your goal is to convince them your startup is a winner they'd want to be a part of.
  • The Golden Intro Request: If the conversation flows and they're genuinely excited, then – and only then – is it time to ask for the introduction. Make it easy for them by offering a pre-written blurb they can simply forward to the investor. This is called a forwardable email, and you can generate one by asking Score My Deck to create one for you.
  • Expand Your Reach Further: Don't stop at one intro! If the initial conversation goes well, ask if they know other relevant investors. Again, offer pre-written blurbs to streamline the process. This way, you can turn a single conversation into multiple warm introductions, significantly boosting your chances.

Step 5: The Fundraising Hustle – Meetings, Meetings, Meetings!

With your targeted list and warm intro strategy in place, it's time to hit the ground running.

  • Schedule Blitz: Aim for 10-20 investor meetings per week. This might sound intense, but remember, it's a numbers game. The more meetings you have, the higher your chances of securing investment. Prioritize quality over quantity, though. Stick to a 2-4 meeting per day schedule to ensure you're giving each interaction your full attention.
  • The Neverending Cycle: Fundraising is a continuous process. Every two weeks, assess your schedule. Do you have enough meetings lined up for the next two weeks (ideally 10-20 per week)? If not, revisit your network list and hustle for more warm introductions. It's a constant loop – securing meetings, attending meetings, incorporating feedback, refining your pitch, and hopefully, closing deals.

Bonus Tip: Leverage Fundraising Tools!

While Michia's process focuses on manual hustle, there are fantastic tools available to streamline your fundraising journey. Consider exploring platforms like Score My Deck, which can analyze your pitch deck, offer personalized feedback, and even suggest relevant angel investors based on your industry and location.

Remember: Fundraising is all about Momentum

Building a successful startup takes time and dedication. Michia's fundraising approach highlights the importance of persistence and resourcefulness. By strategically leveraging your founder network,reconnecting with old colleagues, targeting the right investors, and securing those crucial warm introductions, you can significantly increase your chances of raising the capital needed to turn your dream into a reality.

So, what are you waiting for? Grab your Google Sheet, unleash your inner network ninja, and start building your angel investor tribe today!