Paige Finn DohertyFounding Partner, Behind Genius · Founding Partner at Behind Genius Ventures

how fundraising really works in venture

9 Sept 2023 · 1 min

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In this interview excerpt, the founder of Conscience reflects on the hardest piece of advice they would give their younger self about fundraising. They emphasize that fundraising in venture capital should be approached as a marathon rather than a sprint, warning against the pressure to achieve instant results. The founder highlights that successful fundraising involves building long‑term partnerships that can last a decade or more, and that investors are making significant, often blind, decisions about future potential rather than evaluating fully formed fundamentals. This perspective underscores the need for patience, relationship building, and realistic expectations in venture fundraising.

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If you could go back and tell yourself one piece of advice when you were just starting Conscience, what would it be?
Oh wow, this is somehow the hardest question. I would say, I mean, this is so cheesy, but it's a marathon, not a sprint. I think I put so much pressure on myself to really just like expect results instantaneously, and that's just not how fundraising really works in venture. Like, you're meeting long-term partners that are going to be with you for ideally over a decade, and they're making a big decision partnering with you. And it's not like investing in a startup where you can underwrite some of the fundamentals, like even early stage, like there's something there to evaluate, but it's more or less a blind pool with venture.