Raising a Series A has no single formula. At TechCrunch Disrupt, investors Shailendra Singh of Peak XV, Jahanvi Sardana of Index Ventures and Jenelle Teng Wade of Bessemer shared what they look for--and how founders can stand out in a changing venture market.
A strong vision, backed by a capable team
Investors want founders to make a convincing case that their company can grow into a significant business. Singh said the ability to attract high-quality talent can give a startup an edge. Panelists also cautioned founders against choosing an idea simply because it is currently popular with investors.
Interest is strong in areas including AI, robotics, defense and AI infrastructure. Teng Wade noted that opportunities remain for companies building specialized AI services, even as some foundational-model firms take on more parts of their technology stack.
Metrics matter, but context matters too
Revenue and growth indicators remain important, although investors may interpret them differently in capital-intensive fields such as AI. Teng Wade cited Anthropic's early spending on computing resources as an example of why investors may look beyond short-term margins when assessing a company's longer-term potential.
Singh urged founders to present clear, consistent figures and avoid cumulative revenue charts that obscure how a business is performing over time. He also described a market where some companies are negotiating rounds at multiple prices and in separate funding tranches--a trend Sardana jokingly called "tranchopalooza." Singh said today's high optimism could give way to a market correction in 2027.
Build for the problem, not just the pitch
The investors encouraged founders to maintain high standards for the problems they choose to solve, avoid rushing into weak product-market fit, and be candid about their business. Sardana emphasized that fundraising strategy should not dictate what a company builds. Teng Wade advised founders to make ambitious funding requests, then adjust based on investor response.
As venture capital evolves, founders who pair bold ideas with transparent data and durable customer value may help shape a more resilient generation of technology companies.
