I’m pondering the feasibility as a first-time founder of trying to secure VC funding for an idea that’s still in the conceptual stage, pre product and pre revenue. I’m based in the UK is this impossible in the current economic climate. Has any one successfully raised funds at this early stage? If so what was the journey like, what factors do you believe contributed to your success? Or is this something founders with a successfully track record can only do? Thanks
Almost certainly no.
From your parents? Maybe. From someone else’s parents? Probably not. From my parents? No. From a VC? No.
That said, I have done it, but it was before this market environment. And I already had a (moderately) successful VC backed exit.