Founders often ask me, “How much should we raise, and from whom?” The honest answer is: it depends on where you are. Startup fundraising happens in stages. Each stage asks you to prove something different, attracts a different kind of investor and unlocks a different amount of capital.

Here is how I explain the journey to the founders I work with.

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By Matthew Dinian, MAcc, CPA, CMA, CMC, PMP, Founder, D-Advisory. For educational purposes only; not legal, tax or financial advice.