The best entrepreneurs top off their investment rounds with smaller, strategic investments from individuals
The typical headline or news you see when an entrepreneur or start up closes a round of finances is about the lead venture capital firm. But in that round, the best entrepreneurs fill the round with handful of smaller investments from strategic individuals. E.g. they take smaller checks from individuals like:
Former colleagues or executives they've worked with before.
First or second degree connections who are experts in a function the entrepreneur is not (e.g. sales, marketing, engineering, etc.).
Has first hand experience in the market or field the company is approaching.
This Coda doc acts as a mini CRM for entrepreneurs to keep track of this process.