- Fund1 Frank
- Posts
- The Funnel is Your Friend
Ever feel like you're just shouting into the void? That’s because you are.
But here’s the good news: you can actually math your way to a close.
Fundraising isn’t about waiting for the “right LP” to stumble in—it’s a volume game.
Your Fund I isn’t a vibe. It’s a funnel.
Let’s break it down.
📊 Step 1: Know Your Numbers
You are the CEO of a mini sales org now. That means knowing your funnel math is mandatory:
Funnel Math | Your Target Example |
|---|---|
💰 Fundraise Goal | $20M |
✍️ Avg Check Size (LP) | $250K |
🎯 Needed LPs | 80 LPs ($20M / $250K) |
💬 Qualified LP Close Rate | 10% |
👥 Qualified LPs Needed | 800 (80 / 10%) |
📅 Initial Meetings to Get Qualified LPs | 2,500+ (based on ~30% converting to “qualified”) |
Yes, you read that right. You’re going to need a Google Sheet and a gallon of cold brew.
🧪 What’s a Qualified LP?
Good question. Here’s Fund1 Frank’s Goldilocks Definition™:
“A Qualified LP is someone I’ve had a live convo with (Zoom or IRL), and they’ve explicitly said: ‘I’m interested in learning more.’”
This is not:
Someone who liked your LinkedIn post.
Someone who said “cool idea, keep me in the loop.”
Your cousin’s dentist who “does something in real estate.”
📈 Build Your Funnel Tracker
Here’s a simple spreadsheet structure you can steal:
LP Name | Source | Stage | Last Contact | Qualified Y/N | Committed? | Notes |
|---|---|---|---|---|---|---|
Jane Doe | Warm Intro (VC friend) | 1st Mtg Complete | 4/3/25 | Y | N | Send follow-up deck |
Tend to it like a bonsai tree. Daily. Obsessively. With reverence.
🧠 Frank’s Funnel Philosophy
Fundraising is hard because it’s not about convincing—it’s about finding the fit.
The faster you disqualify the wrong capital, the better.
If they ghosted after the second convo? Great. They disqualified themselves. Keep moving.
🎯 TL;DR
Fundraising is a math problem disguised as an emotional rollercoaster.
Get clear on your funnel metrics early.
Focus on volume and qualification.
Track every touchpoint like your life depends on it (because your fund kinda does).
Till next time,
— Fund1 Frank
Just updated the waterfall model for the 17th time. Feeling strong.
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