Fundraising is a funny art.

It’s a play in 3 parts: The Wind-Up, The Execution and The Close.

The Wind-Up

In the Wind-Up, you’re setting the stage. Rarely is a fundraise accomplished from a cold start with cold relationships, so a Wind-Up often takes many months of getting to know venture capitalists and other investors. No pitching, no hunting. Just casual glad-handing, coffee meetings and character-setting.

A good Wind-Up will inform who you have chemistry with. Nothing will happen without chemistry.

In the final weeks of a wind up you’ll be laying some breadcrumbs. You’ll be offering that you’re thinking of a raise...