For many founders, the investor conversation starts with one question: “Can you fund my business?”

But according to Laurie Fuller, Partner at Raiven Capital and a Google for Startups mentor, that may be the wrong place to start.

Her advice to entrepreneurs is simple: fundraising is about more than asking for money. It is about building meaningful relationships, understanding the problem you are solving, finding the right investor fit, and knowing when the timing is right.

Here are five practical lessons founders can apply when building relationships with investors.

1. Build the relationship before asking for money

Laurie shared a simple principle: “If you go to an investor and ask for money, you’ll get advice. If you go and ask for advice, you get money.”

The point isn’t that asking for advice automatically leads to investment. Rather, it is about changing the nature of the relationship.

Investors know that funding may ultimately be the goal when a founder approaches them. But starting with a genuine conversation allows both sides to understand each other before entering a formal fundraising discussion.

Founders should take the time to:

• Understand an investor’s interests and areas of expertise.
• Seek perspectives and advice.
• Build familiarity and trust.
• Continue the conversation beyond a single pitch.
• Understand what the investor is looking for.

Don’t make the first interaction entirely about the cheque. Make it about the relationship.

2. Know the problem better than anyone

One common weakness in startup pitches is moving too quickly from describing a customer pain point to explaining why the product is the best solution.

Laurie’s advice? Slow down.

Before talking extensively about the product, founders need to demonstrate that they understand the problem deeply.

Ask:

• Who experiences the problem?
• How significant is it?
• How frequently does it occur?
• What are customers doing today to solve it?
• Why aren’t existing solutions working?
• What evidence shows that this is a problem worth solving?

A strong investor conversation isn’t simply about proving that your solution works. It is about proving that you understand why the problem exists in the first place.

3. Know your investor fit

Not every investor is the right investor for every startup.

Before spending significant time pursuing an investor, founders should assess whether their business aligns with the investor’s thesis.

Research their:

• Investment stage
• Sector focus
• Geography
• Ticket size
• Business model
• Growth expectations
• Investment thesis
• Current portfolio

If there is no alignment, forcing the relationship is unlikely to benefit either side.

Investor fit matters just as much as investor interest.

4. Be brave enough to ask about timing

One of Laurie’s most practical pieces of advice was also one of the simplest:

Ask whether the investor has capital to deploy now.

Fundraising is ultimately about timing. A founder may need capital immediately, while an investor may not have capital available for deployment until later.

Rather than spending months pursuing an investor who isn’t currently deploying, founders should feel comfortable asking:

“Do you currently have capital to deploy?”

Understanding an investor’s timeline alongside your own fundraising timeline can save valuable time and help you focus on conversations with a realistic path forward.

5. Look beyond venture capital

There is a reality founders need to consider: there isn’t enough venture capital to go around.

Laurie believes the ecosystem needs more venture capital, but she also sees another opportunity founders should take seriously: corporates and strategic partners.

Instead of viewing corporates solely as potential investors, entrepreneurs can explore opportunities through:

Pilots → Go-to-market partnerships → Commercial relationships → Potential investment

For an early-stage company, a corporate partnership can provide something that capital alone cannot: market access and validation.

A successful pilot can:

• Demonstrate that a product works in a real-world environment.
• Generate revenue.
• Create valuable customer references.
• Strengthen market credibility.
• Potentially open the door to strategic investment.

This could become an increasingly important pathway for startups looking to scale.

The bigger lesson for founders

Don’t make fundraising the beginning of your relationship with investors.

Build relationships early. Understand the problem deeply. Research investor fit. Ask about timing. And look beyond venture capital.

The goal isn’t simply to get an investor’s attention. It is to build a relationship where, when the time comes to raise capital, the investor already understands you, your business and the opportunity.

That is when fundraising becomes more than a pitch.

It becomes a continuation of a relationship.