How many investors will you need?

How many investors will you need?

Author

Peter Walker

|

Read time: 

1 minute

Published date: 

August 22, 2023

Tomorrow the calendar turns to September - and VCs will have their inboxes politely jammed with founders seeking investment in this busy period before the...

Data Minute: Tender offer volume is skyrocketing - HeaderData Minute: How many investors will you need? - Chart

The key insight this week

Tomorrow the calendar turns to September - and VCs will have their inboxes politely jammed with founders seeking investment in this busy period before the winter holidays.

But how should founders think about the number of investors they'll need?

After their first priced round, founders on Carta typically have 27 stakeholders on their cap table. That's 6 employees and 21 investors (perhaps a smattering of advisors and consultants as well).

How many contacts are needed to get to that 21 investor number? Likely hundreds.

And of course each of those conversations will take its own path towards an investment. Some will drag on for weeks with little feedback. Some will require heaps of attention as you work through every little detail of the business. Some (we hope) will be quick and easy.

Tracking all of this can add another layer of stress to an already tense process. So we thought - why not do it all in Carta?

New to Data Minute? Subscribe here for one venture insight per week. Forwarding encouraged!

Peter Walker

Carta Insights Team

Peter Walker
Author: Peter Walker
Peter Walker runs the Insights team at Carta, focused on discovering key data and narratives across the private capital ecosystem. In a former life, he was a marketing executive for a media analytics startup and led the data visualization team at the Covid Tracking Project.

DISCLOSURE: This communication is on behalf of eShares, Inc. dba Carta, Inc. ("Carta"). This communication is for informational purposes only, and contains general information only. Carta is not, by means of this communication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein. © 2026 Carta. All rights reserved. Reproduction prohibited.