Starting a Business
Chapter 6: Raising Capital

Investor Outreach

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Once you have your investor list, the next challenge is actually getting your pitch deck in front of them. If you don’t have warm introductions, here’s how you can do it:

Cold Outreach (The Right Way)

Cold emails can actually work—if done correctly. Here’s how to craft an effective investor outreach email:

Keep it short & direct (3–5 sentences max).
Personalize it (mention why you're reaching out to them specifically).
Include key traction points (growth metrics, user signups, revenue milestones).
Attach your pitch deck (or a one-pager) to give them quick context.

Here’s a sample cold email template:

Subject: [Startup Name] - Raising [Amount] Seed Round

Hi [Investor’s Name],

I’m [Your Name], founder of [Startup Name], a [one-liner about your startup]. We’re seeing [X traction metric—e.g., 5K+ users, 20% MoM growth] and are raising a [$X] seed round to scale. I noticed you invest in [similar industry/startups], and I’d love to share more.

Here’s a short deck for context. Would you be open to a quick call next week?

Best,
[Your Name]

The reality is that cold outreach is a numbers game—expect a low response rate, but even one 'yes' can change everything. This is where as a founder, you need to get hungry. Especially if you don’t have an existing network, the only way you get funding is by being relentless and persistent. If you don’t know investors personally, you might be able to get in front of them by joining the right communities:

  • Founder Slack groups – Many founders share investor contacts & fundraising tips in groups like Launch House, On Deck, and YC Startup School.

  • Twitter & LinkedIn networking – Engaging with investors’ posts and sharing your startup progress can help you get noticed.

  • Events & pitch competitions – Many VCs attend demo days, founder meetups, and pitch events. Programs like 500 Startups, Techstars, and YC have investor demo days.

Once you get in front of investors, it’s crucial to deliver a strong pitch. This is where that deck and pro-forma financials come in. After the pitch, always follow up. Investors are busy, and many deals happen because founders were persistent. If you don’t hear back, send a polite follow-up email a week later.

At the end of the day, not every startup is a good fit for venture capital. If you struggle to get investors on board, consider alternative funding options:

  • Bootstrapping – Growing your business without external funding by reinvesting revenue.

  • Grants & Competitions – Many governments and organizations offer non-dilutive grants for startups.

  • Revenue-based financing – Companies like Pipe and Clearco provide funding based on revenue instead of equity.

  • Crowdfunding – Platforms like Republic and Kickstarter allow you to raise money from customers and supporters.

In essence, fundraising is a process that can be quite arduous. Finding investors as a first-time founder is challenging, but not impossible. The key is to be strategic, persistent, and adaptable.

  1. Know your ideal investors – Understand whether you need angels, micro-VCs, or accelerators.

  2. Build a strong target list – Use databases, LinkedIn, and founder networks.

  3. Cold outreach + networking – Leverage cold emails, online communities, and pitch events.

  4. Nail your pitch – Be clear, concise, and focus on traction.

  5. Follow up & stay persistent – Fundraising is a numbers game.

The best founders don’t wait for investors to come to them—they actively find ways to get in front of the right people. Start small, build relationships, and momentum will follow.