15 Steps to Fundraising a New VC of Private Equity Fund

By David Teten 

[Note: The following is an abstract of the full article, which can be found here.]

Launching is easy; fundraising is harder.

I’ve been fortunate to be a partner at two different VC firms over the past nine years, and we’ve grown AUM 10x both times.

Based on my experience, taking the 15 steps below will help build the core of a high-performing fundraising and investor relations function.

  1. Build the firm as much as possible before soliciting LPs.
  2. Set up a basic marketing toolkit: Deck, website and social media.

It’s virtually mandatory to develop a detailed, data-backed deck and ideally a video pitch. Your materials should ideally meet the expectations of the Institutional Limited Partners Association, even if you’re not targeting institutions. Keep these documents constantly up to date, so all team members are aligned on key numbers, e.g., total dollars raised so far. You’ll look unprofessional if you’re not coordinated.

Fundamentally, almost no one invests based on a deck; they want to talk with the people. However, a high-credibility deck opens the door to a meeting where you then have the chance to sell yourself.

Note that limited partners view formatting as a proxy for professionalism. It’s worth investing a little money in a graphic designer who can design a consistent website, business card, logo and presentation templates.

Richard Dukas, CEO, Dukas Linden Public Relations, said, “If you don’t have a website and have no material online presence, you likely won’t get past the first hurdle with potential investors.”

  1. Make your online profile data-driven and internally consistent
  2. Set up a data room with a completed due diligence questionnaire
  3. Prepare FAQs for prospective LPs




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