Anatomy of a Capital Raise: ebbu’s Road to VC Funding Winds On

Back in January, ebbu LLC‘s Dooma Wendschuh was embarking on a journey to raise $9 million in venture capital funding. The money will fund research and development into cannabis products that Colorado-based ebbu plans to produce and sell.

Since announcing the opening of the capital raising, Wendschuh has spent much of his time on the road talking to potential investors. The exercise has involved late nights, early mornings, working holidays, more alcohol ingestion than he is used to and revisions to the business plan based on feedback from potential investors.

“It’s been crazy,” Wendschuh said. “Every day is a new adventure. Fundraising has just sort of been exploding lately.”

On a recent trip to New York City, Wendschuh said he had 35 back-to-back meetings with potential investors. There are breakfast meetings, mid-morning meetings, lunch meetings, afternoon meetings, dinner meetings and after-dinner meetings. After-dinner meetings often involve drinks, which...

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