In partnership with
Space Funding
Hey crew,
Jose here with another Space Funding Newsletter.
Happy first day of July!☀️
Let's talk numbers today, but the fun kind. The kind that actually tells you what it takes to hit your goal instead of leaving you guessing. Grab your coffee, this one's quick.
Every founder asks the same question before launching a raise: "How many investors do I actually need?" Most never get a straight answer. So here it is, plain and simple.
You already have a take on which AI lab ships next.
Claude or Gemini? OpenAI or Anthropic? GPT-7 before year-end or not? If you read tech newsletters, you've already formed opinions on all of it.
Kalshi has real-money markets on which AI model leads benchmarks this week, which lab ships AGI first, when Anthropic releases Mythos, whether OpenAI raises ChatGPT pricing, and which company has the best coding model at year-end. These aren't abstract questions — they're live markets with real money on both sides, moving as labs ship, benchmarks drop, and announcements land.
The edge belongs to whoever actually follows this space. Not the casual observer — the person who reads model cards, tracks evals, and notices when a new release outperforms the field before the mainstream press catches up.
That person has a genuine edge. If that's you, Kalshi lets you act on it.
THE BREAKDOWN
Three Numbers, One Funnel
Pick your check size target
Lower minimums (like $100–$500) bring in more people but more admin. Higher minimums ($1,000+) mean fewer investors and a cleaner cap table. Either way, know your number before you launch.
Work backward to the investor count
$5M ÷ your ordinary check = how many people you need to say yes. At a $2,000 average, that's about 2,500 investors. At $500, it's 10,000. Pick the version that fits your audience.
Multiply by your conversion rate
Most offering pages convert visitors to investors somewhere around 2-3%. So 2,500 investors usually means somewhere between 80,000 and 125,000 page visits across the whole campaign. That's your real traffic target.
See it now? A higher minimum doesn't just mean a cleaner cap table — it means a dramatically smaller traffic problem. That's why we push founders toward $1,000 minimums whenever the audience can support it. Less hustle, same outcome.
The Plot Twist
Raises are actually getting bigger lately, not smaller. The average successful raise jumped from $491,000 to $815,000 in the past year — a 66% increase. Translation: investors are pickier, but the ones who show up are writing bigger checks to better-prepared founders. Build the funnel right, and the math works in your favor.
I wanted to keep this one short.
If you are ready to take your online capital raise, reply to this email or book a call directly with our team here
See you on Saturday. 🚀
Jose Ruiz
Founder & Managing Director, Space Funding
Space Funding
Helping founders navigate Reg CF, A+, and D like pros.
www.spacefunding.us
