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Pitching VC as the only remaining founder? - Startups Anonymous
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Pitching VC as the only remaining founder?

This has been a big issue for me and not sure how to tackle it. I started my venture with two other co-founders but within the first few months they were out of the picture. (One lied and attempted to cheat the two of us out, and the second one unfortunately was not able to sustain the pressure and demand and in short had to resign). This was all done before the final incorporation documents were solidified. Since then I have been running the company solo with a lot of help and support from family and friends on part time basis.

The product is growing, seeing traction and now I need to seek outside investments to expand growth. But all of these applications ask about the team primarily who are the co-founders. I have not really had a full team or a real co-founder but a series of people who have helped me now and then.

Anyone know how to approach this? Like would it work if on the slide for team I just list all the people who helped me out along the way? Could that work?

  • If the people who left were the ones who wrote the code – it isn’t the end of the world.

    However, you do need a credible plan moving forward: how will maintenance be performed? Who will manage and implement improvements/changes?

    I’d concentrate on fixing this issue before moving forward unless you somehow think the product doesn’t need any modification now or ever.

    If in fact the now-departed co-founders did not contribute materially and you also have clear cut separation agreements (i.e. no possible future lawsuits), then really speaking you don’t have to talk much. You should disclose their existence, show that their departure doesn’t matter, and that said departure(s) won’t be an issue in the future.

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  • So why do you need investors? You said product is growing and seeing traction which means you should be able to breakeven at some point without investor’s money.

    So stop dreaming about someone else’s money and continue working on your startup.

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  • I agree with the above. Get real financial traction on the product then pitch investors when you are ready to scale. Real traction, they won’t care.

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