Funded | How They Raised Millions

A lot of founders jump straight to trying to sound impressive in a pitch. That usually backfires. In this episode of Back Channel, I break down the step most people skip, getting the investor to actually care before you show them anything clever. I talk through why context matters more than complexity, how to think about an ideal investor who already “gets it,” and how to reverse-engineer what you need to explain so someone can lean in instead of getting lost. We cover opportunity size, credibility, unfair advantages, and why your real goal early in a raise is just to keep the page turning. If you’ve ever felt like your pitch makes sense to you but not to the room, this one’s for you.

I want to walk through a real example of a founder who is doing the fundraising work the right way. Not theory. Not vibes. Actual behavior that leads to calendar density. I talk a lot about calendar density as the punchline, and I’ve realized that for a lot of founders the obvious follow-up is, okay, but how do I get there. This episode is my answer to that question. I break down what I saw this founder do before he ever “started” his fundraise. Starting earlier than feels comfortable, making warm intros incredibly easy for busy people, following up the right way, and treating fundraising like a written process instead of a handful of one-off asks. If you’ve heard me say “get to calendar density” and felt a little stuck on the mechanics, this is the episode to copy.

I’ve been thinking about a fundraising idea that keeps showing up once you’ve pitched enough rooms. I call it the resonant frequency of investors. It’s that moment in a pitch when someone stops evaluating you and starts dreaming alongside you. In this episode, I break down what that state actually looks like, how it feels when an investor is nowhere near it, and why the difference matters more than most founders realize. We talk about the myth of only pitching people who “already get it” and why that mindset leaves money on the table. I share how narrative, framing, and a few small changes can move someone from skeptical to fully bought in. There’s a real example from a founder I’ve worked with where a single shift in context changed everything for me personally. One and a half slides in and it all clicked. If you’re raising and wondering why some investors poke holes and others fill them in for you, this episode is for you.

I finally brought a guest onto The Back Channel, and it’s for a good reason. A founder hit me with a question about SAFEs that made me pause a bit longer than I’d like to admit. The topic: whether a startup can accept money from someone who isn’t accredited in the US, and what that even means when the investor lives abroad. So I called up Aaron Ginsburg, partner at Fenwick, who spends his days helping startups and early investors avoid mistakes that later turn into headaches. We get into why the accredited investor rule exists, who actually carries the risk if you bend the rules, how foreign investors fit into the picture, and why Reg S sometimes solves things but adds its own twists. If you’ve ever raised on SAFEs, are about to, or have no idea what you signed last time someone wired you money, this one clears up a bunch of stuff founders usually gloss over. Casual chat, real details, zero legalese overload.

On this episode of Funded, Ariana Thacker, founder and CEO of Mold Co., shares how she went from running a successful VC fund to building a company most investors initially dismissed. She talks about pushing through early rejections, why so many people doubted the market, and what finally flipped the fundraising momentum in her favor. It's a real look at what it takes to hold conviction when no one else sees it—and why that belief can be the difference between hundreds of no’s and a lead investor who finally says yes.

In this episode of The Back Channel, Jason Yeh unpacks the hidden friction points that often derail fundraising. He explores why investors hesitate and what founders can do to navigate those moments. Tune in to learn how to turn obstacles into momentum.

In this episode of The Back Channel, Jason Yeh reveals key time-saving strategies to ensure your fundraising efforts stay on track. He emphasizes the importance of preparing ahead, alongside 2 other keys to stay in control. By adopting these approaches, you'll streamline your fundraising journey and maintain momentum for a successful raise.

Raising money for AI might seem easy today, but back in 2017, it was anything but. In this episode of Funded, Jason Yeh sits down with Minna Song, co-founder and CEO of EliseAI, who shares her journey from bootstrapping a conversational AI startup before ChatGPT was even on the horizon to closing a $250M Series E led by Andreessen Horowitz. Minna opens up about the doubts investors had early on, the lessons she learned about storytelling and timing, and how staying disciplined helped her build one of the fastest-growing companies in real estate and healthcare AI.

In this episode of The Back Channel, Jason Yeh dives into the power of asking for help, especially when it comes to fundraising and storytelling. Drawing from an insightful conversation with Minna Song, co-founder of Elise AI, Jason explores how technical founders can benefit from expert storytelling assistance to elevate their fundraising efforts. He encourages founders to embrace the art of asking for help, especially when it comes to areas outside their expertise.

In this episode of The Back Channel, Jason Yeh explores the power of building a network rooted in small, genuine acts of helpfulness. Jason breaks down why simply being a helpful person is both fulfilling in the short term and a powerful foundation for future fundraising success.

In this episode of The Back Channel, Jason Yeh breaks down what it really takes to close an angel round. From the mindset shift founders need to the tactics that can unlock momentum, he shares key lessons to help you move from scattered conversations to signed checks.

Not all investors are created equal. In this episode of The Back Channel, Jason Yeh explains why some businesses struggle to raise capital—not because they're bad, but because they're pitching to the wrong type of investor. Learn how to identify the asset class your startup fits into, and how to align with the investors who actually “get it.”

What is the true meaning of “relationship” in fundraising and business? Jason breaks it down in this episode and challenges the common misconception that relationships are just shortcuts or favors. He instead highlights how genuine trust and shared experiences build the foundation for meaningful connections. Jason also introduces his new project, Capital Interests, which helps founders connect with investors through shared passions beyond just business.

In this episode of The Back Channel, Jason Yeh dives into the role of AI in our daily workflows, offering encouragement, a cautionary take, and his first practical lesson on using AI in fundraising—especially when building pitch decks. Learn how to think critically about AI's strengths and weaknesses and how to start integrating it into your creative process today.

In this episode of The Backchannel, Jason breaks down what it really means to fundraise in an AI-dominated world. If you’re not building core AI infrastructure, how should you position your startup? He explains why every founder needs an AI story—one rooted in how the tech impacts your product, operations, and long-term defensibility.

In this episode of The Backchannel, Jason reflects on a recent conversation with a robotics founder that reminded him how powerful it is to focus on what actually matters. From skipping the company name to delaying fundraising, the founder made unconventional decisions that signal discipline, clarity, and real momentum. Jason breaks down why avoiding “playing startup” and doing the unsexy work is often what sets great founders apart.

In this episode, we share a powerful lesson from a recent pitch practice session with a founder whose natural charisma backfired. While being articulate and engaging can be a superpower, it can also lead to rambling when clarity matters most. We talk about why “less is more” applies just as much to live pitches as it does to pitch decks—and how embracing silence can actually project more confidence. If you’ve ever talked yourself in circles during a meeting, this one’s for you.

In this episode we share the fundraising version of product market fit—what it feels like when a VC starts dreaming alongside you. We break down what that moment looks like, why it matters, and how to set up your pitch to create that kind of pull.

In this episode of The Back Channel, I reflect on a recent visit to Harvard Business School where I coached founders in Jeff Bussgang’s Launching Tech Ventures class. I break down one of the biggest fundraising mistakes I saw, how founders frame their problem space, and share advice on how to fix it.

In this episode, we explore how one small act of generosity can shape long-term relationships in venture capital. Jason shares a story from a recent trip back to Harvard Business School, where a simple coffee chat from a decade ago turned into a meaningful connection with a now-prominent VC. He reflects on what true network-building looks like—why helping others when it's easy can lead to unexpected returns years later.