This is an extension of my #FMB “Founders are Made, not Born: How Founders Become Learning Animals” series. Originals based on research at Stanford: Part I, Part II, Part III, Part IV, Part V, Part VI, and Part VII. Extensions: Parts 7, 8,9, 10,11, 12, 13, 14.

During fundraises, founders often ask how to choose investors. I’ve met 1,000+ of investors and been part of dozens of boards. There are 9 key roles that investors fill for a company (see below).

My advice to founders is to assemble 1 of each archetype.

Think like Pikachu – “Gotta catch ’em all.”

The basic premise is each investor team is chosen for their unique abilities and complementary strengths.

My 9 investor types:

1. The Super Connector: These types know everyone. They don’t need deep knowledge of your business – just an unparalleled network. They’ll open doors your team couldn’t crack. Startups backed by highly networked VCs raise 25% more in follow-on funding and close those rounds 20% faster (HBR).

2. The Industry Oracle: A wise industry vet who knows your sector inside & out. Their experience can illuminate what works (and what doesn’t), saving you time and costly mistakes. Be careful to use their advice selectively – too much knowledge can stifle innovation.

3. The Tinkerer: A builder at heart, this former founder thrives in the 0-to-1 phase, guiding you through constant iteration. They’re your PMF guru.

4. The Specialist: A tactical, functional domain powerhouse. Whether it’s sales, marketing, or engineering, they swoop in with targeted expertise just when you need it most. This can be an advisor. When FirstMark analyzed sales comp models, they found that founders who involved domain-expert investors reduced onboarding time for sales reps by 30%.

5. The Insight Analyst: The numbers/data person. They dive deep into your metrics, uncovering patterns and insights others missed. They suggest data-driven decisions. They know how to package your business for financial digestion.

6. The Exit Navigator: Rare but invaluable, this vet has seen multiple IPOs or acquisitions and knows the late stage path. They help you see around corners.

7. The Governance Guardian: A master of finance, legal, and governance. They ensure your board stays steady and compliant. They’re exceptionally creative with harnessing legal as a chiseling tool which can have huge impact at critical junctures.

8. The Steady Rock: The emotional anchor of your team. This trusted confidant listens, lifts you up in tough times, and keeps you grounded when you’re riding high. This is the person you call at 1am. According to a McKinsey study, startups that prioritize founder mental health and resilience outperform peers by 2.5X over a 5 year window.

9. The Signal Booster: The individual investor or their firm has a large brand. This association elevates your company or their personal influence is used to shout you out, earn PR.

Some of these roles may overlap – your Super Connector could also be your Steady Rock, for example.

Founders should also diversify the ages of their board members. Both prioritizing someone senior enough to influence decisions at their firm, and someone earlier in their VC career who is available enough when you need their support.

Each investor is not an end-all, be-all. Divvying roles helps focus your expectations for that investor around their job-to-be done. Communicating to them I chose you for X is also helpful: investors know their lane > happier investor relationships.