The only way other investors will know that there are other people in the pool is if you tell them.
About SpringTime Ventures SpringTime Ventures seeds high-growth startups in healthcare, fintech, logistics, and marketplace businesses. 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 $400k to $600k. You can learn more about us and our approach.
About Rich Maloy Rich's mission is to rebuild the American dream through entrepreneurship. He works with early stage startups transforming the world, giving all people the opportunity to grow, learn and earn. With prior careers in finance and sales, he's now focused on startups investing through SpringTime Ventures where he is a Managing Partner. He's a father of two young children and loves sci-fi, skiing, and video games.
Rich:
The people that are committed, they're already in the pool. They're having fun. They're splashing around. They're your advocates. Everyone else is still milling about trying to figure out if they're going to jump in, or if they're going to look stupid if they jump in now. As soon as you get an investor's commitment to the round, get their commitment to use their name to other investors. The only way that the folks that are milling around will know that there are other people in the pool is if you tell them. Assume that investors are talking to each other anyway. The people that you want talking to your potential investors are the people in the pool, the people that are already committed, the people that are having fun. Now I'm not trying to be mean to my fellow investors. I'm not immune to this by any means. Just like you just like everybody else in the world. Investors have limited time too. And probably more work on their plate than they have time for, just like you. So one of the hacks investors use for prioritizing their workload is figuring out, how fast do I need to move on this investment? The more, the party heats up, then the faster that they need to move. This is where your communication is absolutely critical to make sure that you show that your round, your pool party, is heating up. It's getting hotter and hotter, and if they want to party they're going to have to jump in.