Women on both sides of the 'pitch call' meet at virtual round table

On Feb. 24, Sofinnova Partners' Paola Pozzi joined three other VC investors in a roundtable with women founders whose companies are trying to raise money. The panel was organized by Female Founders, a networking and mentorship forum for women in health and life sciences that was set up by LSX Leaders to provide a community for strong, independent, and ambitious women. The group offers a mentorship program and a series of events — webinars, virtual roundtables, clinics, meetups and more.

Pozzi, a partner with the Sofinnova Partners Telethon Strategy, joined co-panelists Diana Saraceni, founder of Panakes Partners; Buffy Alegria, managing partner at SteelSky Ventures; and Fiona Pathiraja, managing partner at Crista Galli Ventures.

The atmosphere at the virtual event, "Ask the Investors Roundtable: (Seed/Series A)" was friendly and open, a chance for women on both sides of the "pitch call" to learn from one another, as well as an opportunity for the entrepreneurs to get advice directly from leading VCs.

Most of the founders sought advice on the best ways to find VCs that would be a good fit for them — the right size, with expertise in the right sector and stage of funding. Pozzi and Diana Saraceni agreed that, like a sales operation, you need to build a pipeline of possible VCs with the right characteristics by, for example, looking through databases to find deals that have happened in the same sector.

Fielding a question on how to respond to difficult VC questions like "What's your strategy for market access?" when you're at too early a stage to have a solid plan, Pozzi pointed out that you cannot always have the right answers, but you can look at benchmark companies in the field and examine their path.

Buffy Alegria pointed out that founders need to ask the right questions, too, to make sure that the VC understands the market your start-up is in and has the right profile of expertise.

On the importance of "warm intros" — introductions through mutual acquaintances — Pozzi said that for her, how contact is made is only one factor. "It’s not just about who you know but also how transformative your ideas are," she said.