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- ♞ Getting Warm VC Intros Without A Network
How I got warm VC intros without having a network
When I was fundraising as a founder, one of the most daunting tasks was always finding a way to get in front of VCs. We tried everything from sending physical mail to using Product Hunt, Twitter, Signal by NFX and more.
Despite all of this, there was one strategy that worked better than any other, and today I want to share that strategy. This strategy, to me, is proof that having a smart system and plan is much more important than anything else when it comes to fundraising. That is why certain founders are so efficient and effective at fundraising, even when they are not the best founders.
Build a list of the top 25-40 funds that you want to meet with. These should be highly targeted based on stage, sector, thesis, geography, etc. These should be the funds that best fit your needs. I’d personally recommend that you leverage Crunchbase or Pitchbook to help you do this. It is well worth the $500+ to make sure that you are starting with the best possible list.
Go to each fund’s website and find the individual at the fund that you feel is the best fit for your company. This can be a fit based on your personal backgrounds, their past investments or their areas of interest. You need to find someone who you feel will advocate for you inside the firm after your first meeting. After this stage, you should have your list of 25-40 funds and one specific person at each fund that you want to meet with.
Use the firm’s website, Crunchbase or ChatGPT to find the last 5-10 investments that the individual you want to meet has made. So now you have a list of the firms, a contact at each firm and that contact’s last 5-10 investments.
Use LinkedIn/Email to connect with the founders of the companies in which those individuals you want to pitch to have invested. You should tell those founders a little about yourself/your company, mention that you are looking to raise from that firm and ask if they have 15 minutes to chat about their experience working with the firm.
Talk to as many of these founders as possible. Come prepared with real questions about the investment process, timelines, what it was like working with the firm, did they ask for a board seat, did they move quickly, did they lead, etc. At the end of the call, ask the founder if they can introduce you to the VC you want to meet.
If you follow this process, you should be successful in getting at least 10-15 warm introductions. From there, it is your job to convert those into successful meetings.
Have you tried this strategy? |
Are you looking to grow your business? Here is how I can help:
📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)
Onwards and Upwards,
