The first contact to venture capitalists

Many start-ups eventually reach the point where organic growth alone is no longer enough – or they need capital to implement their idea right from the start. Be it for product development, market development or building a strong team: sooner or later, external capital is often needed to initiate the next phase. This is exactly where venture capital can be an option.

But how do you reach the right investors? When is the best time to make initial contact? And above all, how do you formulate your request so that it stands out in a VC’s crowded inbox?

I have experienced many first contacts in my role as a VC – some were convincing, others less well thought out. The reality is that good technology, a strong product or a promising business model are rarely enough on their own. The decisive factor is how you present and communicate yourself.

With this guide, I would like to support you in improving your chances in fundraising. The important thing to remember is that every start-up and every financing process is unique. There is no guarantee of success – but with a targeted and strategic approach, the chances of success can be significantly increased.

1. The right investor: Who should you approach?

It sounds banal, but one of the most common mistakes is to write to investors at random – without checking whether they are a good fit for you at all. Every VC has a clear investment strategy. If you don’t fall into their focus, your chances of success are rather low.

Three questions you should ask yourself in advance:

• Has the VC already invested in similar business models? If you are a B2B SaaS start-up, it makes little sense to approach a VC that specializes in biotech. Check the portfolio and look specifically for investors who have already shown interest in your market.
• At what stage does the VC invest? Some funds focus on early-stage financing (pre-seed, seed), while others only get involved from Series A or later. Find out where you are best placed with your current stage of development.
• What is the average investment size? If a VC typically awards tickets between 500,000 and 1 million euros, but you need 5 million euros, it simply doesn’t fit.

For your research, I recommend platforms such as Crunchbase, Startup Insider or LinkedIn. Blogs, interviews and the websites of VCs also provide valuable insights.

2. When is the right time for first contact?

Early-stage financing often takes between three and six months – sometimes even longer. If you only look for investors when your account is almost empty, you put yourself under enormous pressure and risk accepting poor conditions or being left without financing altogether.

The best times for initial contact:

• If you have initial traction. Revenue growth, increasing user numbers or strategic partnerships are strong signals that make your start-up attractive to investors. Make sure you only communicate metrics that offer real added value.
• If you are actively planning a funding round. The best investors are those who are involved early on in the process. Don’t wait until you are in final discussions with others – give VCs the chance to be involved from the start.
• If you want to strategically build your network. Some of the best funding rounds don’t come from cold calling, but from relationships built over the long term. An investor mailing list with regular updates is a good way to cultivate relationships (make sure you ask permission first!).

A proactive approach signals professionalism – and prevents you from finding yourself with your back to the wall.

Many VCs offer contact options on their website. (Pitch) events, warm intros or LinkedIn are also excellent ways to draw attention to you.

3. The perfect speech: clear, concise and convincing

VCs receive numerous inquiries every day. Many of them fail at the first impression – because they are too long, too unclear or simply irrelevant. A good first message is informative, compact and to the point.

1. Who are you? – Introduce yourself and your company in one sentence.

2. What do you do? – Describe your product or service so that everyone understands it.

3. Why are you interesting? – Show your traction or your competitive advantage.

4. How much capital are you looking for? – Be transparent about your financing goals.

5. Why this VC? – Shows that you have engaged with the investor.

A bad mail:

Hello, we are an innovative start-up that is revolutionizing the market with AI. Let’s talk.

A good mail:

Hello [name],
We are [start-up name] and we are developing a B2B SaaS solution for supply chain automation. Since our launch a year ago, we have acquired 50 paying customers and achieved an MRR of 120,000 euros.
We are currently planning a Series A round of EUR 5 million and would be happy to talk to you – your portfolio has strong synergies with our market environment.
Best regards,
[Your Name]

The clearer your message, the greater the chance of a positive response.

4. Participate in pitch events

Of course, we also follow up on these inquiries, but in order to stand out and arouse lasting interest, we advise all founders to become active at events and get in touch with us there.

This is how we and other investors become aware of the startup and the first discussions with specific questions arise afterwards. And even if it turns out not to be a good fit, new contacts to suitable VCs can be established directly. Here too, it is important to select the event carefully. Not every company is suitable for a business angel event, for example.

5. Include a convincing pitch deck and financial plan

Especially in the early stages, a well-written email is not enough. An up-to-date pitch deck is essential:

• VCs often only take a few minutes to skim through your deck. Convince them with hard facts and KPIs..
• Tell your story briefly, clearly, precisely and authentically.
• Adapt the pitch deck to the target group.
• Ideally, you should also send your financial plan at the same time.

A well-prepared pitch deck and an informative financial plan arouse interest and encourage further discussions.

Conclusion: The right preparation makes the difference

• Choose your investors specifically.
• Contact them with a clear, concise message, pitch deck and financial plan.
• Be early to avoid time pressure.
• Remain professional – even if not every VC is immediately interested.

Being well prepared saves time, avoids frustration – and significantly increases the chances of successful financing.

In our calendar you can see which events you can meet me or my colleagues at in the near future.

I look forward to getting to know you! Good luck!