Fundraising remains a significant challenge in uncertain market conditions, as observed by Kyle Teamey and Brigid O'Brien of RA Capital Planetary Health. They closed a $120 million fund amid changing market dynamics. Their experiences inform a structured investment approach, with three key criteria emphasizing time to market and product market fit. They prioritize companies capable of generating revenue quickly, reflecting lessons learned from past investment cycles and acknowledging common entrepreneurial pitfalls.
"Everyone has to go through fundraising, and it's a relatively challenging market right now," Kyle Teamey said, reflecting the empathy developed during this process.
"All of this is cyclical," O'Brien said, highlighting the market's ups and downs that investors and founders experience throughout their careers.
"We have three screening criteria," O'Brien outlined, with time to market being the first - targeting companies that can generate revenue in less than five years.
Teamey emphasized, "We really want to have some sense that they're building something that people actually want to buy," pointing to the importance of product market fit.
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