To VC or Not to VC?

...Hard Is the Question...

We built this website to assist all of you seeking wisdom on one of the hardest startup questions: to raise venture capital (VC) or not. Below is a curated selection of influential voices on the topic to ensure you hear both sides and make an informed decision.

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Marc Andreesen

Unicorn builder (Mosaic, Netscape) + co-founder of a16z, one of the biggest private venture capital firms. He is a strong advocate for venture capital in the tech industry. “Raising venture capital is the easiest thing a startup founder is ever going to do.”

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Reid Hoffman

Reid is a co-founder of Linkedin and a very prominent Sillicon Valley investor currently as partner in Greylock Partners. Reid's rule: "Raise more money than you think you need!"

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Fred Wilson

Fred Wilson has been a venture capitalist rockstar since 1987. He is a partner at Union Square Ventures and also founder f Flatiron Partners. Fred stance: "A VCs most important role is that of a cheerleader... You need a cheerleader in your life. Find one and you will be better off because of it."

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Peter Thiel

Peter is a co-founder of PayPal, Palantir and the 1st investor in Facebook. Also co-founder of the Founders Fund. Author of "Zero to One". His take on the topic: "Giving up 25% of your business is worth it if it enables you to take over your industry."

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Jessica Livingston

Jessica Livingston is founding partner of Y Combinator and author.

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Dalton Caldwell

Dalton Caldwell is Managing Director & Group Partner at YC - the largest startup accelerator. He has run succesfful business like imeem (acquired by MySpace/2009), and us the cofounder of App.net. His stand on to VC or not topic is: "The fact is, the vast majority of businesses don't raise VC and that is often an excellent decision. Many do, and that can be great too!"

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Michael Seibel

Michael Seibel is Managing Director and Group Partner at YC. Past cofounder of Justin.tv - later Twitch.tv (sold to Amazon for $970M) and Socialcam (sold to Autodesk by $60M).

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Paul Graham

Paul Graham is a programmer, writer and investor. In 2005 he started the most famous startup incubator Y Combinator - they have funded over 3K startups, including AirBnb, Stripe, Reddit... his take on the topic: "Bootstrapping is a proper subset of taking VC. Taking VC lets a company choose its growth rate."

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Andrew Wilkinson

Billionaire and co-founder of MetaLab and Tiny.com - investment firm with over 40 business including Dribbble, Aeropress... Buying, starting, and investing in internet businesses since 2006. On the bootstrap vs. VC topic: "The problem with raising venture is it's binary. In the VC's world, you're either 0 or you're a billion dollar company.""

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Aileen Lee

Aileen Lee is a U.S. venture capital angel investor and co-founder of Cowboy Ventures, founder of AllRaise.org and the person that coined the term "unicorn" in the industry.

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Andrew Gazdecki

Andrew is a founder and CEO of Acquire.com that helps 100s of startups get acquired and has done $500M+ in closed deals. His take: "If you’re building a startup to create wealth don’t raise VC. You don’t need a billion dollars. Selling a bootstrapped company for $1M-$10M is such a more realistic goal and will change your life forever. Unless you need that private jet."

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Pieter Levels

Known as @levelsio, Pieter is arguably the most famous indie hacker in the world who runs PhotoAI.com ($70K/MRR), NomadList ($42K/MRR) and other.. His mantra is "You don't need venture capital to build a startup."

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Jason Fried

Jason is the Co-Founder/CEO at 37signals, makers of Basecamp ($200M/ARR) and HEY. He has written awesome books on work and productivity, and is the bootstrapping superstar of the indstry. His view for VC is "Fund yourself, Outside money is plan B"

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Arvid Kahl

Arvid is a software engineer, entrepreneur, and writer. He bootstrapped FeedbackPanda (SaaS) with his partner Danielle Simpson. They sold the business for a life-changing amount of money in 2019. He is author of the famous "Zero to Sold: How to Start, Run and Sell a Bootstrapped Business".

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Rob Walling

Rob is 3x author for SaaS & bootstraping + founder of MicroConf and Startups for the Rest of Us. He has 6 exits, the biggest being Drip.com. His take on VC: "IMO ~1% of tech companies should raise VC, and ~10% of tech companies should consider raising non-VC 'indie funding' and the rest should probably bootstrap."

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Ben Chestnut

Ben bootstrapped MailChimp to an $12B exit without ever raising a dollar of outside funding. On the topic of VC raising, Ben says: "I'm just really proud to say: I did it my way!"

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Jason Cohen

Builder of 3 companies, out of which 2 bootstrapped unicorns - SmartBear and WPEngine. Jason is experienced entreprenuer. His take on the topic: “Raising money is neither required for 'success' nor a marker of 'success' though it is a marker of 'having more fuel for the fire.'"

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Jesse Pujji

Jesse Pujji is a successfull entreprenuer, founder of Ampush (exit at 8-figure sum) and Gateway X. His opinion: "People think I hate VC bc it’s a terrible business model…I don’t. I’m just not comfortable with it personally"

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Yong-Soo Chung

Serial entrepreneur. His take on the topic: "If you're not building rocket ships or curing cancer, you're better off bootstrapping your company. More control and less headaches."

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Laura Roeder

Laura Roeder is the founder and CEO of Paperbell. and MeetEdgar (7K customers). Exited Edgar, social media tool. On the topic on bootstrapping: "The tech world doesn’t celebrate our kind of victory.""

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Marc Andreesen
Reid Hoffman
Fred Wilson
Peter Thiel
Jessica Livingston
Dalton Caldwell
Michael Seibel
Paul Graham
Andrew Wilkinson
Aileen Lee
Andrew Gazdecki
Pieter Levels
Jason Fried
Arvid Kahl
Rob Walling
Ben Chestnut
Jason Cohen
Jesse Pujji
Yong-Soo Chung
Laura Roeder
anti VC rock-stars
the VC elite
the great bootstrapers
VC enthusiasts
No Way VC Max VC
Big Success Crazy Success

Brough to you by the founders of

To VC or Not to VC was built while seeking reasoning for our own funding decisions at Aqtos, and wanted to pay it forward for the ones facing the same question.

If you have any suggestions, want to add something or change, or if you are listed and want to verify your position ping @toVCorNOT on Twitter.

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