We are getting ready to start raising and I wanted to actually put together a proper seed round checklist before we start reaching out to investors, rather than figuring it out as we go. Here is what I have pieced together so far, would appreciate anyone correcting me or adding context.
A clear pitch deck comes first, covering the problem, solution, market size, traction, team, and the ask, kept tight rather than trying to cover everything. Basic financials matter too, even if early stage, things like burn rate, runway, and a rough model showing how the raise extends runway. A clean cap table is essential, making sure existing shareholdings, any prior SAFE or convertible instruments, and option pool allocations are accurate. Legal basics need to be in order, proper incorporation, founder agreements, and IP assignment. Early traction evidence matters a lot too, whether that is users, revenue, or pilot customers.
What I am still trying to understand is how polished this all needs to be before the first conversation versus what can still be a work in progress.
Has anyone here actually gone through a seed round recently? Curious what was on your checklist that I have not mentioned, and anything you wish you had prepared earlier.
Found a fairly clear explanation of this on Entrepreneur Plus UK while I was reading around the topic, helped me understand the founder side of it a bit better.
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