Fundraising has never been easy — and despite headlines suggesting that venture capital is “back”, many founders are finding it harder than ever to stand out. To unpack what’s really going on, I sat down with Gian Seehra, founder, former VC at Octopus Ventures, and now one of the most in-demand founder coaches helping startups raise capital.
Gian has lived every side of the table — failing to raise on his first two startups, successfully raising $16m on his third, investing as a VC, and now helping founders navigate the fundraising process with clarity and confidence. In this interview, we talk candidly about the current fundraising landscape, investor psychology, and what founders need to do differently to win capital in 2026.
Gian’s Journey: From Failed Fundraises to Founder Coach
Gian started, like many founders, by chasing the TechCrunch dream — and failing. His first two startups didn’t raise capital at all. It wasn’t until his third venture, alongside experienced colleagues, that he successfully raised around $16 million.
That experience shaped his understanding of fundraising far more than theory ever could. He later joined Octopus Ventures, a multi-billion-dollar VC fund, where he spent several years investing and building out their health team. Seeing the process from the investor side made one thing clear: there is a huge gap between how founders think fundraising works, and how investors actually make decisions.
Today, Gian focuses full-time on helping founders raise venture capital. So far, he’s worked with around 120 founders, helping them collectively raise over $250 million.
The Reality of Fundraising in 2025–2026
Despite optimistic LinkedIn charts and headlines, fundraising is not getting easier.
While total capital deployed may be rising again, Gian points out that much of it is flowing into fewer, larger rounds, often driven by AI hype. In practice, roughly the same number of startups are successfully raising — they’re just raising much larger amounts.
For most founders, especially those outside the “top 1%” AI narrative, fundraising is as competitive as ever.
“If you’re not one of the very best founders an investor has seen in the last few months, it’s going to be incredibly hard to raise.”
This means founders can no longer afford to “wing it”. Every meeting is a direct comparison against dozens of other startups competing for the same cheque.
Why Fundraising Is Emotional, Not Rational
One of the biggest misconceptions founders have is that investors make decisions based purely on logic, spreadsheets, and data.
In reality, early-stage investing is deeply emotional.
At pre-seed, seed, and even Series A (and often Series B), there simply isn’t enough data to make purely rational decisions. Revenues are limited, products will likely pivot, and markets are still forming.
As a result, investors rely heavily on intuition and conviction.
“Investing is an art, not a science. There isn’t enough data — so feelings and emotion play a massive role.”
This is why founder storytelling, presence, and clarity matter far more than most people expect.
The Biggest Pitching Mistake Founders Make
According to Gian, most founders suffer from what he calls “founder talk”.
They are so deep in their product, features, and daily execution that they explain their business as if the investor were a customer — not someone evaluating risk, scale, and potential.
Investors don’t need a feature-by-feature walkthrough. They need to feel:
Why this problem truly matters
Why this market will be massive
Why this founder is uniquely capable of winning
If you don’t emotionally connect with an investor, the pitch is already lost.
What Investors Are Really Optimising For
From a VC perspective, two things dominate decision-making:
1. Fund-returning outcomes
Venture capital follows a power law. Most investments fail or return little. A single breakout company must return the entire fund.
That means investors are constantly asking:
“Can this realistically become a 50x outcome?”
If your startup feels like a £50m exit opportunity, it’s not venture-scale — regardless of how solid the business may be.
2. De-risking every possible concern
Investors are actively looking for reasons not to invest:
Is the team strong enough?
Is the tech defensible?
Can you actually acquire customers?
Is competition moving faster?
Are there gaps in experience?
Great founders proactively address these objections — in their deck, their story, and their conversations — before the investor even raises them.
Why VCs Ultimately Invest in Founders
Gian breaks this down simply: investors invest in founders because everything else is uncertain.
The future is unknown
The product will likely change
Most startups pivot at least once before Series A
There’s not enough data to rely on numbers alone
The only constant is the founding team.
“Eighty to ninety percent of the decision comes down to you.”
This is why investors obsess over founder quality, resilience, clarity, and adaptability. They need someone they can back through years of uncertainty.
How Founders Can Level Up Their Presence
So how do you actually become that standout founder?
Gian’s advice is surprisingly practical:
Audit yourself honestly
Identify what makes you a great founder — and where you’re weak. Then plug those gaps with advisors, hires, or narrative.Record yourself pitching
Almost no founders do this — and it’s one of the biggest missed opportunities. Watch how you come across. Improve deliberately.Tell your real story
Your background doesn’t need to be conventional. Investors respond to intensity, discipline, and evidence of grit — wherever it comes from.Be a great hang
Investors back people they want to spend time with. Fundraising is a long-term relationship, not a transaction.
The Most Important Fundraising Tip of All: Preparation
If there’s one thing Gian sees founders get wrong again and again, it’s timing.
Too many founders wait until they have two months of runway left — then panic.
Successful fundraising starts months before you ever “launch” the round:
Testing your story
Getting early feedback
Refining your pitch
Building momentum
“Pick the date you want to meet your first investor — then work backwards at least two months.”
Preparation, storytelling, and founder quality working together are what dramatically increase your odds of success.
Want More?
Gian regularly shares in-depth fundraising advice on LinkedIn and YouTube, where he breaks down investor psychology, pitching, and fundraising systems in far more detail.
If you’re preparing to raise — especially for the first time — this is one conversation worth watching closely.
