The Modern CFO: Fundraising, AI, and Starting Smart in 2025, with Jeffrey Fidelman
What does it take to raise capital when VCs are pickier, AI is everywhere, and every dollar has to go further?
In this episode of The Growth-Minded CFO, hosts Alex Louisy and Lauren Pearl sit down with Jeff Fidelman—founder and managing partner at Fidelman & Co.—to dig into the new capital climate, the operator mindset founders need, and why a CFO’s job isn’t just numbers anymore.
Watch or listen to the episode above, or get a recap of the big takeaways below (and the actual words Jeff used to break them down):
Fundraising Has Slowed Down—but the Process Got Smarter
Back in 2021, it was raining term sheets. Not anymore. Jeff’s advice? Build the relationship before you build the deck.
“We are seeing funding windows somewhere between six to nine months… I meet an investor today, I send them a newsletter every month, I try to keep them abreast of the situation… Then in six months, they’re more likely to take it to investment committee.”
The old “spray and pray” model is out. Structured outreach, consistent updates, and real metrics are what investors want now.
Founders and CFOs Need to Speak Like Operators
VCs aren’t looking for pitchmen. They want gritty, grounded operators who know their numbers and their runway.
“I want to know that within six or nine months, if things aren’t going as per plan… this team is well-positioned and capable of taking the business in a different direction.”
That means unit economics, hiring realities, sales motion—all of it. “5% month-over-month growth” isn’t a strategy. It’s an output.
Build the Model
Forget 40-tab spreadsheets nobody understands. Jeff’s team insists on collaboration—because confidence comes from clarity.
“There should be a visceral reaction—‘Oh my God, this is exactly on point,’ or ‘This is total garbage.’ That way, version 1.0 is actually usable.”
Models are kept lean, assumptions are stress-tested, and founders own the numbers by the time they’re in front of investors.
“Put in, imagine you have a blank check—what’s your ideal model? Then reverse it. Can you actually hire 30 engineers in a year? No? Cool, now let’s be real.”
AI: Not Magic, But a Multiplier
Jeff doesn’t buy the AI hype as a replacement for real thinking. But as a tool to get your hands dirty faster? Game changer.
“AI hasn’t gone there yet. The real value is not the content—it’s the process you go through. That’s what helps founders build conviction.”
When building his own internal CRM, Jeff used AI tools to prototype workflows before bringing in developers. The result?
“One month, $300, and 150 hours later, I had an MVP. That would’ve cost us $250,000 and nine months before.”
The lesson: use AI to get closer to the problem, not further away from it.
Two Types of CFOs—Which Are You?
Not all CFOs are wired the same, and Jeff sees two main types:
Accounting-first CFOs — strong in ops, compliance, and reporting
Strategic/Advisory CFOs — focused on fundraising, modeling, and capital structure
“Most CFOs lean toward one or the other. At early stage, you might be fine with a VP Finance and a fundraising advisor. Later stage? You’ll want both in the room.”
The best ones grow into hybrid operators—finance pros who believe in the business and can pitch it with founder-level conviction.
The Growth-Minded CFO Mantra
“Put yourself in the investor’s shoes. Do you believe in the business? Do you believe in the plan? If not—what would it take?”
Whether it’s building tighter models, testing tools with AI, or becoming a founder-minded CFO, Jeff’s advice is simple: be prepared, be real, and think like an operator.