Because it works.
They wouldn’t do it otherwise.
Facebook, Pinterest, and many other top B2C deals were sourced this way.
In the B2B world, well yesterday, I was intro’d by a Top VC who wrote a term sheet at $12m pre for a pre-revenue start-up an associate brought in via cold outreach.
Partners end up being in-bound folks, mostly. They source from their networks, their referrals. And their associates.
VC’s say “show me the traction”, “show me the MRR”… I’ve even sold 2 companies, both exits greater than $10M each… Then I see this from Jason: “In the B2B world, well yesterday, I was intro’d by a Top VC who wrote a term sheet at $12m pre for a pre-revenue start-up an associate brought in via cold outreach”. That just makes me scratch my head… my latest venture just hit $23K MRR after one yr in the market – not a single cold call from a VC – haha