Educational only — not investment, legal or tax advice.

“Before you can talk to investors, you have to be introduced to them.” Paul Graham wrote that in his 2013 essay How to Raise Money, and it is still mostly true. But “mostly” matters, especially if you don’t come from a network that already knows investors.

Why warm intros work

An introduction from someone the investor trusts is a filter. It tells them a credible person thought this was worth their time. Graham ranks the most valuable introductions as coming from investors already committed to your company, followed by founders the investor has backed before.

How to get warm intros without a network

1. Start with founders, not investors. Founders who raised from a fund know its partners and are usually willing to introduce founders they respect. Ask for introductions after they know your company.
2. Use your existing investors. Even a small angel can open doors. Ask each one for two specific introductions.
3. Make it easy. Send the person introducing you a short, forwardable email: what you do in one line, your traction, what you are raising, and why this investor fits.
4. Be specific. “Could you introduce me to the partner who led your seed round?” gets action. “Do you know any investors?” doesn’t.
5. Join the ecosystem. Accelerators, demo days, university networks, founder communities and industry events all create introductions over time.

When cold email works

Cold outreach works better than its reputation, when it is targeted and short.

Target well. Only email investors who invest in your stage, sector and geography. Mention a relevant portfolio company or something they have written.

Keep it to five sentences: 1. One line on what you do. 2. One line of traction with a number. 3. Why them, specifically. 4. What you are raising. 5. A clear, small ask: a 20-minute call.

Attach or link a short deck. Make it readable on a phone. See what a VC actually reads in your pitch deck.

Follow up once. A polite follow-up a week later, ideally with a new piece of progress, is normal.

What not to do

• Mass emails with “Dear Investor”.
• Long attachments and no summary.
• Paid “investor access” services that promise introductions for a fee. See investor red flags.

From the investor’s side of the table

I built an origination channel that became the main source of new deals at a firm I worked with, so I have seen deals arrive from every direction. A warm introduction got a faster first look, but a sharp, specific cold email from a founder with real traction got a look too.

The short version

Warm intros still get the fastest response, and you can build them deliberately. When you go cold, be specific, short and well-targeted.

Sources

• Paul Graham: How to Raise Money (2013)

Written by Fabian Cisneros. Educational only — not investment, legal or tax advice. See the full disclaimer.