Comment by threeseed
2 years ago
Have actually read a few founders now who had no connections and just treated VCs as sales targets:
3000+ investor cold emails, 100+ meetings, 3 term sheets, 1 deal.
Reading this it makes me wonder if this isn't the best strategy.
I know several successful founders who had to pitch over 100 firms on their financing round. I would say the usual number is probably 30 to 50, but 100 isn't out of the ordinary, especially if you are doing something unusual or new.
I think people underestimate how hard it is to truly evaluate someone else’s business. Imagine you hear bullshit every day - you just can’t call people out on it. So in the end you go with something you can actually properly evaluate because of some inside you have as an investor. Of the this ends up being a theme.
Sounds like a huge waste of time
Sounds like 6 months in a regular cubicle job.