True – just tell me what you do in 1 sentence, your ARR, MoM growth rate, website URL, and perhaps a link to a docsend. Anything more looks like spam. https://t.co/fAJt9pkJ0x
— David Sacks (@DavidSacks) October 23, 2020
A little while back, we did a great digital event, The New New in Venture. We explored how venture has changed since Covid with many of the best, and many I look up to, from Aileen Lee of Cowboy Ventures to Satya Patel of Homebrew to Keith Rabois of Founders Fund and so much more.
I took advantage of the format to ask every VC I interviewed one question: Do You Open Cold Email?
And you know, it’s not just me. (I love a great cold e-mail). All of them do. You can catch up on the sessions here:
I asked again and again, clearly. Do you open cold emails? How often? And have you funded deals from them? The answers were consistently yes, most of them, and yes I’ve funded them.
- Keith Rabois prefers a deck, and he reads most of them.
- Aileen Lee or her partners read every email pitch that comes into Cowboy Ventures.
- David Sacks of Craft prefers a short email pitch that summarizes the opportunity.
- Satya Patel of Homebrew reads everything sent to him
Personally, I do get behind on email, but I love an amazing cold email and have funded maybe ~50% of my investments from them. I like an email pitch that is so amazing, that I’d fund it just based on the email alone. More on that here:
So yes, is a perfect warm intro better? Well, maybe. But even the top, most famous Seed VCs are hunting. Hunting unicorns and decacorns. And they can’t wait for them all to come from their networks.
So put together the very, very best cold email you can. Make it awesome, in every way. And send it to your top VCs.
They may not respond. But if it’s awesome, including the title, I bet they open it. And if it’s super awesome, you have a better chance than you might think of getting a meeting.
Just don’t ask for coffee or to compare notes. Selling stock in sales. Make it count. And it will work.
Here’s one of the best SaaS companies in the world, worth $3b+. That I funded from an A+ cold email. The email’s even shown in the video:
– send me the entire deck
– send me the best email in the world
– I can give you 500k to 5mhttps://t.co/gJcyq5gK5I
— Jason ✨BeKind✨ Lemkin ⚫️ (@jasonlk) July 9, 2020