KnotPre-seedseedposter01 ·
Lead investor pulled out the day before signing. What now?
Co-founder & CEO of a Pre-seed B2B SaaS in 🇺🇸 United States.
Investor ghosting after term sheetTook money from the wrong investors
Term sheet was signed, due diligence done, transfer scheduled for Monday. Friday afternoon I get the call — they're "pausing all new deals." No reason given. The other commits in the round are conditional on this lead.
Two weeks of runway after this was supposed to close. I haven't told the team yet. I haven't told my cofounder yet either because she's at her sister's wedding.
What do I actually do tonight? Email the other investors before they find out from someone else? Go to my warmest second-choice? Just sleep first?