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Raising capital is an inevitable step for almost any startup founder 鈥� unless you鈥檙e building a business that is profitable from day one. However, a big raise comes with big responsibility 鈥� not just for the capital itself, but also for maintaining solid investor relations. This involves clear, transparent communication, as otherwise, you risk being nothing more than a bystander, watching your idea come to life or fall apart without you.

History repeats itself far too often for us not to learn its lessons: The curtain call for , the boardroom battle that led to the departure of , and 鈥� how could we forget? 鈥� the investor-driven departure of from .

Cases like these are countless; you could fill an entire book with them. But is it possible to take control of such subjective things? Well, at least you can try. Here’s how.

It鈥檚 the investor, not the fund, that matters

If you don鈥檛 want to get the boot right after a raise, do your homework. Too many founders flex about which fund backed them 鈥� 鈥淚 raised from ,鈥� 鈥淚 got ,鈥� or 鈥溾�檚 in my round鈥� 鈥� but they miss the real question: Who at that fund actually wrote the check?

A fund is important, but its true value lies in its partners 鈥� their vision, approaches and ways of working, each unique in its own way. The name on the cap table matters less than the person sitting across from you in board meetings.

If you have options, go beyond a firm鈥檚 reputation and dig into the actual investor you鈥檒l be working with. Are they hands-on or hands-off? Do they back founders through tough times, or do they cut and run? Have they gone through the same journey you are experiencing now yourself?

Sometimes, the best choice isn鈥檛 the flashiest fund but the partner who truly gets your vision, has a strong conviction in it, and is ready to go all-in with you.

And remember: bringing on an investor is like entering a marriage. It鈥檚 a long-term relationship built on trust, shared values and a collective commitment to success because you’ll be building together for at least seven to 10 years.

But unlike marriage, founders don鈥檛 always have the luxury of picking the perfect match. When you need funding, you often need it fast, and that means compromises are inevitable. The key is knowing which trade-offs are worth making and which could come back to haunt you.

Talk to founders they鈥檝e backed. Do the due diligence. The right investor can be a game-changer. The wrong one? A disaster.

Trust your gut: Red flags only get redder

If something feels off about a potential investor 鈥� maybe it鈥檚 their approach to business, their values or how they handle tough situations 鈥� pay attention. Fortunately, your gut is rarely wrong. This is someone you鈥檒l be working with for years, through the highs and inevitable lows.

The last thing you want is a boardroom full of doubt and friction. The stakes are too high to ignore red flags or convince yourself it鈥檒l 鈥減robably be fine.鈥� If it doesn鈥檛 feel right now, it definitely won鈥檛 feel right later.

When the honeymoon is over

Some founders treat investors like ATMs, only reaching out when they need more cash. While this might seem efficient, it doesn鈥檛 build the trust needed to keep you in control when things get tough.

The best founders understand that investor relationships aren鈥檛 just about business metrics 鈥� they鈥檙e about mutual trust, transparency and alignment. This means maintaining open, honest communication 鈥� not only during good times, but especially when things aren鈥檛 going as planned.

Regular updates, both wins and challenges, create predictability and reliability. And when a crisis hits, the investors who trust you are the ones who鈥檒l stand by you. Those you鈥檝e kept at arm鈥檚 length? They鈥檒l be the first to push you out.

is the COO and co-founder of , an AI-powered proptech startup reshaping the U.K. market through a roll-up strategy. Previously, as general manager at , he led the turnaround of a $100 million business, increasing EBITDA by $3.5 million per month. Lifshits has advised 10 startups, including , and served on their boards. He began his career at , where, at age 21, he became one of the firm鈥檚 youngest associates rising from intern to associate in just two years.

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