How Eric Wei & Will Kim raised a $26 million Series A for Karat

Asking VCs for Money

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How Eric Wei & Will Kim raised a $26 million Series A for Karat

Aaron Harris

Oct 31, 2022

On today’s episode of Asking VCs for Money, I talked to Eric Wei and Will Kim, cofounders of Karat. They raised an $26m Series A - combining equity and debt - led by Union Square Ventures. Eric and Will share how their company evolved to become "the new black card for creators", tell the story of how a few informal meetings quickly became a fundraising round, and delve into their process for honing their pitches.

Aaron Harris runs Magid & Company, working with founders to scale their startups and navigate fundraising.

Discussion about this podcast

Asking VCs for Money

I’m Aaron Harris. I was a partner at Y Combinator for 7.5 years and now run Magid and Company. For the last decade, I’ve been obsessed with one question: How do founders fundraise?

On Asking VCs for Money, I’ll be talking to founders about…well…asking VCs for money. We’ll talk about what they actually did - the tactics and strategies that led to success - how they met investors, how they prepared their pitches, and how they negotiated term sheets. I’m going to focus on process and particulars here, not grand pronouncements or hacks. I hope you learn something that helps you the next time you fundraise.

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