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Additional Posts in Startups and Entrepreneurship
Book recommendations for staring a CPG company?
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Sometimes they will put board thresholds for spending, like >$100k-500k but very rarely seen them enforced, would be a huge red flag of an over zealous, immature investor to want to micromanage the management team after the wire clears. Usually in the raise process, the company will outline what they will use the cash for but plans/opportunities change and investors generally understand that and good leadership will communicate it
Mentor
Funds should be used for general working capital.
Your deck should have your strategy and vision, not budget line items.
They can pre-allocate as much as they'd like. I believe it will also depend on the investors for that round. If they like the direction that the founders are going in, they likely won't interfere much. But if the money to be spent is allocated to something they don't think is beneficial, they will likely defend taking their money by suggesting different allocations.
Thanks. I was just wondering as my company is looking to conduct their next funding round soon. I’m hoping my team get budget to increase our team size so that we can improve our product
Agree with the above — there’s usually not that much granularity beyond you need the funds to achieve milestone X, which you accomplish by hiring a team consisting of Y and with an aim of doing Z by [insert rough date].
I’d be happy to connect to learn about your company and their funding round!