The fund raising process for seed rounds is completely different from the process for raising a traditional institutional venture round (i.e. what is common called a Series A, B, C, D or up). Rob Go from Nextview Ventures has a fantastic article that demystifies this process and provides a step by step guide. In this 2018 article, he outlines the six steps to raise a seed round:
1. Line up support for references (this will be useful during due diligence)
2. Get commitments from people who know you. This helps jump-start the process.
3. Find a lead investor. Not every seed fund leads - look at the investment history of the seed funds to identify potential funds who might lead your round.
4. Secure value-adding, non-lead investors. These people bring connections or knowhow.
5. Have good news to share along the way (e.g. results from MVP tests)
6. When you get a term sheet, do some work to optimize the deal.
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