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← Glossary
Fundraising & Rounds

Lead investor

The investor who sets the terms and price of a round and usually takes the biggest cheque.

Why it matters

Landing a credible lead is the hard part of a raise — others follow a lead far more readily than they start a round.

Hear it from people who've done it

Get the real-world version of "Lead investor" drawn from hundreds of conversations with founders and investors.

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Go deeper

Episodes on Fundraising

Dom Pym – The Little White Lie That Built a Bank for 1.4 Million Aussies

Life After Launch with Megan Luttrell & Geo George · 27 July 2026

Dom Pym – The Little White Lie That Built a Bank for 1.4 Million Aussies
Impact Investing at $10: The Fortune He Lost, The Fund He Built | Arjun Agarwal, inaam

Founders in Motion with Thea Ngo · 23 July 2026

Impact Investing at $10: The Fortune He Lost, The Fund He Built | Arjun Agarwal, inaam
"The SaaS Apocalypse Is A Myth" with Freddie McKenzie, Co-Founder & CEO of Manifest

In The Blink Of AI with Georgie Healy · 16 July 2026

"The SaaS Apocalypse Is A Myth" with Freddie McKenzie, Co-Founder & CEO of Manifest
All Fundraising episodes →
Related terms

Term sheet

A short, mostly non-binding document setting out the key terms of an investment before the long-form legals.

Priced round

A raise where you agree a valuation and issue shares at that price, as opposed to a note or SAFE.

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