Why LDN.vc is going on hiatus
Unfortunately, due to the market situation that has arising from the coronavirus outbreak I have made the tough decision to put the LDN.vc project on hold.
The reasons for this are simple, after talking to dozens of founders and investors, my advice to early stage founders is very simple:
If you can afford to, wait until this is over until you raise. Valuations are artificially low at the moment, and growth opportunities are limited.
Now more than ever is the time to take Paul Graham's advice and do things that don't scale to keep the lights on and maintain your trajectory in a time where many startups will close their doors.
Be the ones that survive by doing things that others wouldn't.
If you can't afford to wait it out, take a convertible note and don't close your next round until the market stabilises and your KPIs are back on track.
I would only recommend closing a round in the current market if you either receive an offer you would have taken before the market crash, or if you have exhausted all other options.
Unfortunately for me, in a business that takes no money up front, closing convertible note deals is not a profitable venture.
Rather than try to sell something I don't believe in, I'd rather take my own advice and do some work that doesn't scale until the market stabilises, keep my business profitable during a tough time and re-assess in a few months.
To that end, I'm putting my focus on the thing I set out to do when I began the LDN.vc project, helping founders, but instead I'll be focusing on how to help them maintain their trajectory and extend their runway without losing staff.
If you're interested, you can learn more about that at imaan.co.
Best of luck to you all