Money is everywhere in the world of venture capital. In 2021, U.S.-based startups saw a record $93 billion worth of funding in the seed stage. Since money is such a commodity, a lot of VC funds have pondered working with PR agencies to bolster their presence so as to not miss out on checks, either signed for the next big startup or received from a big name limited partner (LP). As alluring as press clips and media mentions in top-tier outlets may seem, venture funds are often not well positioned to make any of that media happen. Based on our experience at BAM, here are five reasons why venture funds should skip the PR agency:
Your fund isn’t unique. It’s already been a record-breaking year for funds in 2021. Claiming that your fund backs “amazing founders” who are “changing the world” isn’t distinct in the least. To grab the eye of a reporter — and a PR agency, for that matter — a VC fund needs to differentiate itself beyond the money raised and founders backed. Are all of the partners immigrants? Is there a deep vertical your firm absolutely dominates? Did your fund just turn a $250,000 check into $300 million for a controversial startup that went public? These are a few distinctions we’ve recently worked with that secured solid media attention.
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