Khosla Ventures lets you submit business plans, and they say they read all of them. Does anyone know about how often this leads to a pitch/investment?
I can’t speak directly for Khosla, but I think most venture firms, and especially smaller ones, will at least take a quick look at any in-bound pitch that is extremely well articulated. The email, the elevator pitch, the sentence line have to be great, too — not just the deck.
I can speak for myself — I’ve done 10 venture and 10 angel/advisor investments. I don’t literally read every deck or “business plan” but I do at least scan every single email pitch I am sent.
1 of 10 VC investments was a true cold email … and that investment has done extremely, extremely well. 3 of 10 of my angel investments were essentially cold emails, that led to relationships, that led to investments. All three are successful.