European Startup Fundraising Guide - Sengo
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Reimagining Fundraising
and Investing

Closing the wealth gap in private assets

Why This Matters

We're in a moment where:

  • Capital is more cautious
  • Founders are more global
  • Advice is louder than ever

What's missing is clarity.

Sengo exists to slow the conversation down just enough so founders can make intentional, informed decisions instead of reactive ones.

Résumé en français

Nous sommes dans un moment où le capital est plus prudent, les fondateurs sont plus globaux, et les conseils sont plus bruyants que jamais. Ce qui manque, c'est la clarté. Sengo existe pour ralentir la conversation afin que les fondateurs puissent prendre des décisions intentionnelles et informées plutôt que réactives.

Ila Corcoran

Ila Corcoran, Founder of Sengo

We work with founders, funders, and communities around capital access—specifically helping people understand how money actually moves, not just how to pitch for it.

Founders

Support and resources for high impact founders at key inflection points

Funders

Education and pathways to invest responsibly in private markets

Partners

Access to the next generation of wealth creators before traditional networks discover them

90+ Annual touchpoints through in-person and virtual programming
9,200+ Organically-built email list
600+ Active app users
$5M+ Raised in '25 by grantees
46.8% Email open rate (4x industry average)
167X Multiplyer on grants given to funds raised

Résumé en français

Sengo aide les fondateurs, les financiers et les communautés à comprendre comment le capital fonctionne réellement. Nous servons trois groupes : les fondateurs (soutien aux moments clés), les financiers (éducation pour investir de manière responsable), et les partenaires (accès aux créateurs de richesse de nouvelle génération).

When is the Best Time to Have Investors?

Ask yourself: What problem am I trying to solve with capital?

The Three Valid Reasons to Raise

  • Speed: You know what to do and need to move faster
  • Scale: Demand exists and supply is the bottleneck
  • Risk Reduction: Capital helps you cross a credibility or infrastructure gap

"When capital funds uncertainty, it creates pressure instead of progress."

Healthy timing: Clear priorities, specific use cases for the money, and confidence in what happens after the raise.

Unhealthy timing: "Everyone else is raising," "I'm running out of time," or uncertainty about which traction metrics actually matter.

Résumé en français

Posez-vous la question : quel problème j'essaie de résoudre avec du capital ? Les trois raisons valables de lever des fonds : la vitesse (vous savez quoi faire et avez besoin d'aller plus vite), l'échelle (la demande existe et l'offre est le goulot d'étranglement), et la réduction des risques (le capital vous aide à franchir un cap de crédibilité).

How to Pitch to an Investor?

Pitching is translation. Founders speak in vision and possibility. Investors listen for risk, return, timing, and decision-making quality.

The Four Questions Every Pitch Must Answer

  • What problem are you solving and for whom?
  • Why are you the right person to solve it?
  • Why does this matter now?
  • How does this become a return?

Only one of those questions is about the idea. The rest are about execution and judgment.

What Investors Screen For: Early-stage investors bet on how founders think, learn, and respond to information. Acknowledging what you don't know yet while showing how you're testing is often stronger than pretending everything is solved.

Résumé en français

Le pitch est une traduction. Quatre questions essentielles : Quel problème résolvez-vous et pour qui ? Pourquoi êtes-vous la bonne personne ? Pourquoi maintenant ? Comment cela devient-il un retour sur investissement ? Les investisseurs misent sur la façon dont les fondateurs pensent, apprennent et réagissent à l'information.

The Danger of Having Investors Too Early

Capital always comes with expectations, even when it's friendly.

The Hidden Costs of Early Capital

  • Dilution Without Value: Giving up equity before you understand your value
  • Wrong Direction: Locking into a growth narrative you can't yet support
  • Time Drain: Spending time reporting instead of building
  • Mental Shift: You stop asking "What's true?" and start asking "What will investors think?"

"This shift can happen before your foundation is strong, and it's hard to undo."

Simple Gut Check: If capital disappeared tomorrow, would you still know what to build next? Would you still know who your customer is? Would you still believe in the business? If not, capital may be masking a clarity problem.

Résumé en français

Le capital vient toujours avec des attentes. Les coûts cachés du capital précoce : dilution sans valeur, mauvaise direction, perte de temps en reporting, et changement mental (vous arrêtez de demander "qu'est-ce qui est vrai ?" et commencez à demander "que penseront les investisseurs ?").

Can European Startups Receive U.S. Funding?

Yes. European startups can absolutely receive U.S. investment.

It depends on who the investor is, how the investment is structured, and what stage you're at.

Angels vs Institutions

  • U.S. Angels: Often comfortable investing directly into European companies, especially early on
  • U.S. Institutions: Usually require a U.S. entity (often Delaware) because of legal and tax constraints

The Biggest Mistake: Founders restructuring before capital actually requires it. A U.S. entity is a long-term commitment with tax, legal, and operational implications.

The Sengo Principle: Structure should follow capital, not anticipation.

Résumé en français

Oui, les startups européennes peuvent recevoir des investissements américains. Cela dépend de l'investisseur, de la structure et du stade. Les business angels américains investissent souvent directement, tandis que les institutions exigent généralement une entité américaine (Delaware). La plus grande erreur : restructurer avant que le capital ne l'exige réellement.

How Sengo Helps

Sengo focuses on readiness and pathways.

We help founders understand:

  • What capital paths are viable for them
  • What breaks if they accept certain money
  • When to move and when to wait

Clarity is a form of leverage.

Sengo Community Event

Bottom Line: Raise money on purpose with the right structure, at the right time, from the right people.

That's what we're building at Sengo.

If you're capital-curious, capital-confused, or capital-ready, we're here to help you make sense of it.

Résumé en français

Sengo se concentre sur la préparation et les parcours. Nous aidons les fondateurs à comprendre : quels chemins de capital sont viables, ce qui se casse s'ils acceptent certains fonds, et quand agir ou attendre. La clarté est une forme de levier. Levez des fonds de manière intentionnelle, avec la bonne structure, au bon moment, auprès des bonnes personnes.