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Insights on seed-stage fundraising, VC meetings, and startup evaluation.

Convertible Note vs SAFE: What Founders Actually Sign in 2026
David Rakusan ·

Convertible Note vs SAFE: What Founders Actually Sign in 2026

In the United States, the SAFE has won pre-seed: 90 percent of deals on Carta in Q1 2025 used one. The convertible note still has five specific situations where it is the right instrument, including bridge rounds, European deals where SEIS or EIS relief is on the table, and conservative angels who want a maturity date. This guide walks through what each instrument actually encodes and gives founders a five-question decision framework.
SAFE convertible note pre-seed funding cap table QSBS SEIS EIS convertible loan note YC SAFE bridge round startup financing fundraising mechanics Section 1202
What Investors Look for in a Startup at Seed Stage (and What They Are Trying to Prove Is Real)
David Rakusan ·

What Investors Look for in a Startup at Seed Stage (and What They Are Trying to Prove Is Real)

Seed investors look for five signals: team strength, market timing, traction quality, unit economics, and narrative consistency. Team dominates pre-Series A. This guide breaks down each signal, what counts as proof, how the bar shifts from seed to Series A, and the practical checklist founders run before opening outreach. Written by a founder who spent 7 years on the investor side.
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Due Diligence Checklist for Seed Stage Startups: The 2026 Standard
David Rakusan ·

Due Diligence Checklist for Seed Stage Startups: The 2026 Standard

The complete due diligence checklist a seed stage founder needs in 2026. Written by a founder with 7 years on the investor side, this guide breaks the seed checklist into seven proof areas, shows which items get reviewed pre-term-sheet versus post, and identifies the red flags that kill deals in the first hour of review. Backed by data from Carta, Cooley, DocSend, Kruze, and Y Combinator.
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Pre-Seed Funding: How to Raise Your First Round in 2026
David Rakusan ·

Pre-Seed Funding: How to Raise Your First Round in 2026

Pre-seed funding in 2026 means raising $250K to $1M on a post-money SAFE, with median valuation caps at $10M for smaller rounds and $15M for rounds above $1M. This guide covers the 2025 Carta benchmarks, what pre-seed investors actually look for beyond the pitch deck, SAFE mechanics and common mistakes, the warm intro vs cold outreach gap, and a 10-item pre-fundraise proof checklist for first-time founders. Built from 7 years on the investor side of the table.
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Startup Valuation at Seed Stage: How Investors Actually Decide What You Are Worth
David Rakusan ·

Startup Valuation at Seed Stage: How Investors Actually Decide What You Are Worth

The median seed pre-money valuation hit $16M in Q3 2025, up 14% year over year (Carta). The median post-money rose to $24M in Q4 2025. Behind those numbers sits a process most founders misread. Investors do not calculate valuation. They work backward from fund math and forward from proof. This guide explains the four valuation methods you will encounter, why decks lose pricing power, and how founders close at the top of their range.
seed valuation startup valuation venture capital pre-money valuation post-money valuation berkus method scorecard method seed funding dilution cap table fundraising 2026 founder ownership
SAFE Notes Explained: What Every First-Time Founder Should Know in 2026
David Rakusan ·

SAFE Notes Explained: What Every First-Time Founder Should Know in 2026

A SAFE looks like a one-page handshake. It is not. It is a fixed claim on your future equity, and most first-time founders model the dilution wrong until it is too late. This guide breaks down what a SAFE actually is, how post-money math works, the difference between caps, discounts, and MFN clauses, and the four mistakes that turn a casual SAFE round into a Series A surprise. Written by a founder who spent 7 years on the investor side.

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We Analyzed 4,690 Founder Posts About Fundraising. The #1 Problem Isn't Rejection.
David Rakusan ·

We Analyzed 4,690 Founder Posts About Fundraising. The #1 Problem Isn't Rejection.

Original research across 4,690 founder posts on LinkedIn, X, Reddit, and Quora. Timeline drag is the #1 pain in seed-stage fundraising, ahead of rejection, deck feedback, and investor ghosting combined. Here is what founders themselves say is breaking them.
founder pain points founder fundraising challenges fundraising research original research founder burnout fundraising delays fundraising seed stage startup fundraising founder playbook venture capital founder data
What Investors Look for in a Pitch Deck (2026): Slide by Slide
David Rakusan ·

What Investors Look for in a Pitch Deck (2026): Slide by Slide

The average VC spends 2 minutes and 37 seconds on a pitch deck before deciding to pass, forward, or ask a question. This guide breaks down what investors actually look at slide by slide in 2026, why the deck is losing power as a trust signal, and why the Team slide is now getting 40% more attention while the Competition slide gets 48% less. Written with 7 years on the investor side, backed by DocSend, PitchBook, Carta, and Affinity data.
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How Long Does It Take to Raise a Seed Round? The Real Timeline in 2026
David Rakusan ·

How Long Does It Take to Raise a Seed Round? The Real Timeline in 2026

The honest answer for 2026: a well-prepared seed round takes three to four months of active fundraising with proof, warm intros, and a clean data room. Without those, it stretches to eight or nine months and often never closes. Carta data shows the median seed to Series A interval is now 616 days, and only 15.4% of the Q1 2022 seed cohort graduated to Series A within two years. Here is what actually drives the timeline and how to compress it without cutting corners.
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