As a syndicate lead, what deal / company should I syndicate?

Generally, the opportunity should meet most, if not all, of these conditions:

  • Notable co-investors: There should be a reputable angel or VC participating or leading the round. They should be making a significant, new investment in the company.
  • Experienced founder: The startup is founded by an experienced founder.
  • Domain expertise: The company is in the lead’s area of expertise.
  • Technology companies: Generally avoid companies that do not use technology as a lever to demonstrate high growth potential.
  • Conflicts: Disclose conflicts, such as owning advisory shares or having relatives at the company. Investors may have a higher bar in such cases.
  • Bridge/extension rounds: The company should be gaining at least 12 months of runway from the round.

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