As a startup founder, securing a venture capital meeting can feel like one of your most difficult tasks.
After more than a decade in venture capital and thousands of pitches reviewed, I’ve seen what works (and what doesn’t). For example, I’ve never seen a cold email get funded—not because it’s impossible, but because it’s rare.
If you want to improve your odds, here are six strategies that can help you secure that crucial first meeting.
6 Ways to Secure a VC Meeting
1. Network Your Way to a Warm Lead
Venture capitalists are inundated with emails and strapped for time, so they look to their network to filter leads. If possible, try to get a warm introduction. I’ve found that the best way to meet a VC is to have an entrepreneur that this VC has successfully backed introduce you.
Keep networking by regularly attending industry events and VC mixers to meet with like-minded founders and VCs and keep your startup top-of-mind as they discuss upcoming partnerships or investments.
2. Engage VCs Online
Many VCs actively write blog posts and share thought leadership content with their communities on social media. Find people in venture who are writing or posting about your area and engage with them. Regularly approach them with thoughtful comments and amplify their content through your channels. Be delicate in how you balance this activity—the goal is to show that you are engaged with their content without bombarding them with comments or engaging exclusively with them on your channels.
3. Find Investors With an Appetite for Your Business
Every VC has a sweet spot in terms of type of company, stage of development, and size of the total commitment needed. Find firms with an appetite for your business.
In addition to researching the firm, research their investors and look for one that is specialized in your area. What’s great about the Internet is that you don’t need to be in the same city or continent as the investor that you are reaching out to, so don’t focus on a particular geography.
4. Approach New Investors With a Firm
If an investor is new to a firm, they are likely focused on building their portfolio and are taking more meetings than others at the firm. Monitor LinkedIn to see new job announcements and follow your target investment firms on social media to see when they announce new partners.
5. Send a Teaser Blurb, Not a Full Deck
Should you cold email your VC pitch deck? Investors spend approximately 2 minutes and 30 seconds reading a deck. As a VC, I love when a company emails a pitch deck so I can quickly flip through it, but it can limit your chances of securing a meeting. As a founder, I recommend you share a teaser blurb that piques our interest, and possibly share a few key slides from your pitch deck. Remember, though, that anything you send can be shared with that VC’s network, so be conscious of what you send.
6. Avoid Cut-and-Paste Templates
If you’re going to write a cold email, VCs can tell if it’s a cut-and-paste template. Research the target investor and clearly explain why you’d be a good fit for them.
Remember That Not All VCs Are the Same
Not all VCs are the same, and it’s more important for the right people to say yes instead of getting everyone to say yes. Do your research and be strategic in finding the right VC that is invested in your space.
After you find an ideal VC, each of the six tips shared above can help you break through and land a meeting. Once you do, check out my advice for how to best tailor your VC meeting presentation.
