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?

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JASON LEMKIN

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.

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Published on April 18, 2016
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