(This is the fourth post in this fundraising mini-series: quick, simple ideas that I’ve used in various fundraising conversations over the years, that I’m sharing here, one by one)
If there’s one tactical topic everyone seems to have a strong opinion on when it comes to fundraising, it’s whether entrepreneurs should be actively talking to new VCs *in between* rounds of financing, for relationship building purposes.
Many founders have had the same experience: something public or semi-public comes out about your company (a funding announcement, a press article, a blog post, a tweet, even a LinkedIn update of some sort…) and, voila, your inbox starts filling up with emails, typically from VC firm associates saying that they “heard good things” about your company and would “love to catch up”. At first, it may be vaguely flattering, but as more emails pile up, it gets tedious, sometimes overwhelming. And perhaps slightly annoying: everyone says you’re supposed to get a warm intro to a VC, but then VCs can just email you cold, and somehow they expect you to drop everything you’re doing to talk to them? Sheesh, the nerve.