WhoBuilt

How To Cold Email Investors

Sep 24, 2019· 8 min· 129K views·Watch on YouTube

Speaker

Michael Seibel of Y Combinator shares practical advice on cold emailing investors.

Keep the email short and factual

Seibel recommends an email that takes 60 seconds or less to read. Its goal is to prompt a reply, not to secure an investment immediately. Include the problem, solution, launch or growth progress, market size, co-founders, coding ability, and any unusual insight about the opportunity.

Use clear language and a professional address

Skip a long origin story and lead with facts. Use everyday language instead of industry jargon, since you may not know what an investor understands. Seibel also recommends sending from a company email address that includes your name, so the sender is clear and investor information tools can identify you.

Treat the deck as optional, and use a familiar format

A deck can be attached, but Seibel says it is not required. If you include one, follow a startup fundraising format; he points to Airbnb's fundraising deck as a basic example. Deck styles can differ across industries, so a format familiar in finance or marketing may not fit a startup pitch.

Aim for a conversation, not a meeting

The initial email should make it easy for an investor to read and reply within roughly 60 to 120 seconds. Seibel advises against asking immediately for an in-person meeting or sending several quick follow-ups. Track opens to see whether the email was read, and give the investor room to respond.

Explain the company before asking for time

Seibel says the email must clearly describe what the company does. Asking an investor to meet for an hour just to hear the idea puts the request before the reason to meet. Share something compelling first, so the investor can ask for more information.

Takeaways

  • Write an investor email that can be read in under a minute and makes replying easy.
  • Lead with the problem, solution, progress, market, team, and a distinctive insight.
  • Use plain language and a company email address with your name.
  • Attach a deck only if it follows a startup fundraising format.
  • Describe the company before asking for a meeting, and avoid rapid follow-ups.

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