Some companies choose not to highlight steward-ownership at all, but just mention the specific instruments they’re using – such as silent partnerships or redeemable non-voting shares. Others place steward-ownership at the center of their fundraising narrative, making it a key part of the pitch. And in some cases, it’s actually the investors who introduce the concept, bringing their interest in steward-ownership-aligned structures to the table. You will need to find your own way – it heavily depends on your stage, your relationship with investors and the preexisting knowledge about steward-ownership in the market you operate in.

Some general hints for going about fundraising steward-ownership-aligned financing from our experience are: 

• Put your company into focus, not steward-ownership. The investors need to be convinced by yourself, your company, your story, and your business model – so much that they really want to be part of the party. Then you can build on this first positive impression and commitment.

• In some cases, steward-ownership can be a very strong part of your business model which is worth mentioning.

• Providing security to investors is key – investments are tough decisions anyways, so you don’t want to increase uncertainty but instead give them security around steward-ownership-aligned financing (mention similar cases or supporters they might know, benefits for your company, benefits for investors, etc.).

• Clearly detail the specific benefits of steward-ownership for each of the company’s stakeholders. Show, what’s in it for customers? For the business itself? For investors, business partners, and employees? Providing a clear, stakeholder-focused breakdown helps to see and understand the advantages of steward-ownership for both their interests and the company’s mission.

• Often investors don’t understand the manifold possibilities of steward-ownership-aligned financing, and perceive it as fixed and rigid – even though it provides a lot of flexibility to meet different needs.

• Steward-ownership can lead to confusion, so in some cases it may be easier to start by talking about the envisioned financing instrument and conditions, introducing steward-ownership later on. However, this approach may not work for every instrument – especially not for equity investments, where a particularly close relationship between the company and the investor is involved.

• While you may encounter challenges in fundraising with steward-ownership – some people will say no because they don’t fit the structure or it’s simply not a good match – remember that steward-ownership can act as a natural filter. It helps identify and exclude investors who don't share your vision for the future or the type of relationship you're looking to build.

• On the other hand, some investors are eager to be part of the next wave of impactful, purpose-driven ventures that aim to make real change in the world. Highlighting the systemic shift they’ll support simply by investing in your model can be a powerful asset. Showcasing examples of “lighthouse” cases – successful companies and visionary investors already aligned with steward-ownership principles – can help inspire new investors and build their confidence in this transformative approach.

• It is quite an asset to have a lead investor with experience in steward-ownership-aligned financing because it gives security to other investors. We’ve found that when one to three investors are committed, it becomes much easier for others to join in – they’re less hesitant about being the “outliers.”

• If you've chosen steward-ownership as the right structure for your business but haven't legally implemented it yet, you can still begin your fundraising journey and approach the transition in a more iterative way. Just be sure to keep in mind the points outlined in “Investment Today, Steward-ownership Tomorrow” to keep the path open, particularly regarding the costs of exiting the investment. Additionally, clear and transparent communication can help to signal investors what kind of financing and ownership structure you are pursuing in the future. If you're concerned that investors might block the transition to steward-ownership later on, you can include steward-ownership in a letter of intent, a commitment letter, or in the contracts to signal your commitment to investors and secure their agreement in advance.

• Some investors decline an investment citing steward-ownership as a reason for rejection. This can be the reason, but it is often an “easy” excuse for not investing for different reasons as well.

• If you’ve secured investors willing to join you on this journey, don’t underestimate the time and effort required to finalize the deal and draft the contracts.