Comment by pnw
2 years ago
I know several successful founders who had to pitch over 100 firms on their financing round. I would say the usual number is probably 30 to 50, but 100 isn't out of the ordinary, especially if you are doing something unusual or new.
I think people underestimate how hard it is to truly evaluate someone else’s business. Imagine you hear bullshit every day - you just can’t call people out on it. So in the end you go with something you can actually properly evaluate because of some inside you have as an investor. Of the this ends up being a theme.