In the world of venture capital, entrepreneurs and startups often find themselves in a constant struggle to stand out amidst the sea of emails flooding the inboxes of potential investors. It’s common knowledge, among the VC community, that things run majorly on email and spreadsheets, and when it comes to emails or any other textual communication brevity is key.
I discovered a unique approach to writing cold emails that works well for me, derived from the classic movie “The Princess Bride” and the character Inigo Montoya, portrayed by the exceptional Mandy Patinkin.
Introduction: “Hello, My Name is Inigo Montoya”
Start your email with a polite greeting and a concise opening sentence about who you are. This is your chance to grab the reader’s attention. No need to mention your name, that’s already in the signature. Keep this short and to the point of what you do, with no more than 2 sentences. This is a good time to use the elevator pitch that you’ve crafted so carefully.
For example: “I’m a BraunPrize-winning product designer on a mission to create a low-cost digital microscope that improves education in Sub-Saharan Africa.”
Background of the Email: “You Killed My Father”
This is not a time to tell them your life story and how you came about the idea. That’s what the face-to-face time will be for. Use these 2-4 lines to mention the back story of what connects you to this person. Have they invested in similar companies? have you been admiring their thoughts on twitter? Did you go to the same university as them? Did you meet them at an event? Whatever it was that made you decide to reach out to this person.
For example: “I have long admired your passion for supporting first-time founders with revolutionary products and making them a part of your portfolio, and religiously follow all your insights on twitter.”
OR
“One of the companies within this field with a really well-designed product that I love is XYZStartup, which is also a part of your portfolio. I actually worked on the early prototype of that product as part of my internship with the company back in 2012.”
CTA: “Prepare to Die”
While your CTA in a VC email might not be as dramatic, it should be equally as direct and compelling. Politely but assertively ask for a meeting or call to discuss the opportunity further. Make it clear that you value their time and input by offering a time frame that already works for you in which they can find the time to connect.
Do not ASK a question. Rephrase it into a statement. Instead of saying “Can we talk?” or “Do you have time to talk?”…
Here’s how to craft a strong Call to Action statement:
“Would love to have a 30min Zoom call next week to discuss a potential investment, if you are interested after seeing our pitch deck: http://….” or “I would love to talk to you about Topic1, Topic2, and Topic3. Please share your calendar link so I can find a time that works for you.”
Tips
- Express Confidence: Begin with confidence. Believing that your startup and the investor are a perfect match will give you the confidence you need to approach the conversation.
- Highlight Benefits: Explain why meeting with you would be beneficial for the investor. What can they gain from learning more about your startup and you?
- Gratitude: Express gratitude for their time and consideration. Specially in the 2nd email once they respond, to show appreciation for their willingness to engage with you.
- Signature: Sign off with professionalism and include your contact information in the signature. Typically only need Your Name, Your Role, Startup Name, Website, Phone Number, and Location.
By following this approach, you can create a VC email that stands out, tells a compelling story, shows that you can do an elevator pitch to get your idea across, and motivates investors to take action. Much like Inigo’s overdeveloped sense of vengeance, your pursuit of funding requires bullish determination, confidence, and the passion to succeed.
I’m happy to teach you why each word in the email examples was carefully chosen to be used, and how you can craft your own version that works best for your startup.