We brought back our monthly #SaaSChats, a one-hour chat that happens on Twitter, and we talked fundraising with the help of Nishaant Sangaavi, CEO of EnergyX; Chase Irwin, Partner at Dentons; Nolan Beanlands, Executive Director of the Capital Angel Network and our very own Erin Blaskie, Director of Marketing at L-SPARK.

During the chat, we talked about all aspects of fundraising — how to approach raising funds, what to look for in your investors, how much to ask for and more.

Here’s a recap of the questions that were posed during #SaaSChats as well as a few response highlights.

Q1 First question! When should a startup think about raising funds and what should they raise funds for?

Q2 What should a startup think about when determining the type of investment to go after (angel investment vs. VC, for example)?

Q3 What are some of the common misconceptions around #startup fundraising?

Q4 Should a startup founder use a “spray and pray” approach when looking for an investment or should they use targeted outreach?

Q5 How does a #startup decide how much money they want to raise? Can you ask for too little or too much?

Q6 What are some of the key metrics that matter to investors when they are being pitched for investment?

Q7 Let’s talk about the term sheet. What is it, what shows up on one and what should you be aware of to protect yourself as a #startup?

Q8 Once you accept funds, what are your responsibilities as a #startup that has raised funds and now has investors to be accountable to?

Q9 For @energyXsolution – what did you learn from your legal team, during your fundraising efforts, that you might have missed on your own? For @chaserirwin – what do founders typically miss if they try to navigate this process on their own?