Raise Millions by Hustle Fund VC Page 89 In addition, here’s a list of questions you should ask investors when you meet them: ● How big is your fund? (for VCs) ● Where are you in your fund? (for VCs) ● When will you need to fundraise again? (for VCs) ● Do you lead rounds? (for VCs) ● What is your typical check size? ● Do you reserve capital for follow-on? This gives you a sense of how much money you can raise from a given firm or individual. This is key because there are a lot of investors out there who have no money but are still taking meetings. It’s OK to take a meeting with an investor who has no money to invest, but you should know that they won’t be able to come into your round until they have raised money so your meeting might not lead to anything. Understanding how much is allocated for follow-on investments also gives you a sense of how much money is left in a fund. If a fund is $10M and two-thirds is reserved for follow-on, then in practice, there’s $3M for first checks. If the firm has already deployed $2M, you know that your chances of getting a first check are slim. In general, it’s slightly easier to raise from funds that have just raised a fund. They have a lot of money that needs to be deployed, and so they are more eager to invest. In contrast, when there are fewer hustlefund.vc / @hustlefundvc