For the vast majority of entrepreneurs, the friends-and-family round of venture financing is critically important, as it’s the only round they’ll ever raise.
There is a lot to unpack in that introductory sentence. First, a friends-and-family round is truly considered venture financing in that the investors are seeking a return on the capital they’ve invested, they believe that their early-stage investment is going into a high-potential venture and they’ve made the investment in order to help the company grow.
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