Investor: Today's Fundraising Process Is 'God-Awful'

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Anyone who has seen the ABC TV show "Shark Tank" can attest that pitching investors is no easy task. During a panel conversation among venture capitalists and angel investors, Grand Banks Capital general partner Tim Wright didn’t sugarcoat the reality.

’Fundraising is the hardest thing any of you will ever do. It’s one of the most miserable things any of you will ever have to do,’ he said.

But he didn’t stop there.

’It is a God-awful process, and you kiss a lot of frogs on both sides,’ he added.

According to Wright, the best way to get through such a brutal experience is to focus on finding the right chemistry between a young business team and investors. Sometimes, that means passing up on money.

’If you think in seven years you’re not going to be able to deal with [an investor], do not take his money -- dear God,’ he said.

Wright said he personally believes the most value in any startup or business comes from the founding team.

’I know that whatever plan we’re coming up with, the cunning plan we have, is not going to survive contact with the ’enemy.’ So I want a team that’s going to adapt,’ he explained.

PUBLISHED NOV. 13, 2015