Founders + Funders: Real Talk on Raising Capital with Heart, Head & Hustle

What happens when three powerhouse women—each reshaping the early-stage ecosystem in their own right—step into a room full of hungry founders and engaged investors? 

You get real talk. Actionable insight. And a vibe shift that stays with you long after the Zoom window closes.

At our most recent Founders Virtual Lunch, Angel Club’s very own Angel Gambino hosted a dynamic fireside with Marcia Dawood (Mentor at Angel Club, Chair Emeritus at the Angel Capital Association, SEC Advisor, podcast host, TEDx speaker, and author of Do Good While Doing Well) and Monica Wheat (Mentor at Angel Club, former Techstars MD, current Executive Director at Venture Catalysts, and ecosystem whisperer).

The theme? Raising capital with intention, empathy, and strategy. The subtext? Doing it in a way that builds trust, expands access, and makes this whole damn industry a little more human.

“We’re not just investing in companies. We’re investing in people, relationships, and outcomes that make the world healthier, happier, and more equitable.” — Angel Gambino

That’s the ethos behind Angel Club, and it’s the lens through which this session unfolded. Below are the highlights, hot takes, and hard truths founders and funders need to hear.

1. Fundraising is a relationship game. Start before you need the check.

“Most founders don’t realize this, but you're interviewing investors just as much as they're evaluating you,” said Marcia. “Build the relationship before you make the ask.”

Angel echoed this: “Every conversation is an opportunity to earn trust. If you want someone to write you a check, show them you’re invested in the relationship, not just the raise.”

And if you get a no? Don’t let the trail go cold. Ask: What would get you to a yes? Or Who else should I talk to? Because when someone says no, it can be the start of a longer game—not the end of the story.

2. Smaller checks = stronger alignment (when done right)

We love the inclusive cap table energy. But it’s real: managing a round made up of dozens of 5K–10K checks is a lot of work. Monica called it like it is:

“One of my best-performing teams raised a strategic pre-seed round made entirely of small checks. Every single investor was tied to their ecosystem: fintech operators, e-comm founders, early employees from Coinbase and PayPal. They weren’t raising money. They were building an army of credibility.”

That’s the strategic version of the “crowded cap table.” It takes time, intention, and hustle—but when executed well, it can unlock doors a single lead check can’t.

3. You don’t need to find a lead—you need to find a leader.

The myth of the “lead investor” came up a lot. Marcia clarified:

“Yes, someone needs to help set the terms. But that doesn’t have to be a big-name VC. It could be an angel who believes in you and wants to help you shape the story.”

Starting with strong intent around your terms—then shopping the round with clarity—can go further than waiting for a mythical lead to appear. And as Monica added:

“Many investors are followers. Show momentum. Show commitment. Show that others are already in. That unlocks FOMO.”

4. Great storytelling is your secret weapon

Both Monica and Marcia agreed: most early-stage founders struggle to articulate their problem clearly. But that clarity is the key to unlocking not just funding—but product-market fit, hiring, and GTM.

“The number one thing we hear during the first mentor madness at Techstars?” Monica shared. “They don’t yet know who their [true] customer is. If you don’t know that, you can’t sell.”

Marcia added: “The best pitches make you feel the problem. And they make you believe this team is the one to solve it.”

So if you’re struggling with storytelling—fix that first. Because without that, the rest doesn’t land.

5. Investors are looking for head, heart, and gut alignment

In her TEDx talk, Angel shared her framework: aligning head (logic), heart (emotion), and gut (intuition) to connect more powerfully in conversations. Turns out? That applies to investing too.

“As investors, we want all three,” said Angel. “We want the data. We want the passion. And we want that unshakable instinct that says, this is a winner.”

But few founders know how to communicate on all three levels. Those who do? They become unforgettable.

6. Founders who don’t “look” like founders need backers who see them.

This was personal. Monica got real:

“My superpower is finding talent where it’s not obvious. Founders who don’t look like what the valley expects. Founders in markets that aren’t overfished. Founders who don’t speak the language of VC yet—but are brilliant.”

That’s why community matters. That’s why mentorship matters. That’s why rooms like this one matter.

“Angel Club helps founders build relationships with investors long before they’re ready to raise,” said Angel. “Because real support isn’t transactional—it’s transformational.”

Bonus: Our friends at Mercury are leveling the playing field

We’re proud to partner with [Mercury](https://mercury.com/partner/angelclub) to make startup banking faster, easier, and way more founder-friendly. 

When you sign up for Mercury through Angel Club, you’ll get expedited application review, dedicated support, and exclusive access to tools designed for early-stage founders. 

Whether you’re just incorporating or raising a seed round, Mercury gives you the financial backbone to scale confidently.

Learn more and apply here: [mercury.com/partner/angelclub](https://mercury.com/partner/angelclub)

Why Join Angel Club

If this conversation resonated, Angel Club is probably your kind of people. Here’s what you’ll get:

- A values-aligned community of investors, advisors, and founders focused on authentic relationships

- Access to flash mentorship, expert guidance, and investor prep

- Invitations to monthly events like Founders Virtual Lunch, Investor Meditation Group, and Founder Flow

- A growing network of angels, advisors, and funders who believe in doing well and doing good

Whether you’re building your first startup or your third, whether you’ve raised nothing or closed your Series A—there’s space for you here.

“Angel Club is the room I wish I had when I was raising my first round.” — Angel Gambino

“I’ve been in rooms around the world. Angel Club stands out for how it centers people—not just deals.” — Marcia Dawood

“Here, you don’t have to pretend. You get to build with integrity.” — Monica Wheat

Join us.

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The future of venture is inclusive, intentional, and full of possibility.  

Let’s build it together.