Securing investment via cold emailing is a viable, yet notoriously challenging, path for startups. The vast majority of founders, upwards of 90%, fail to achieve meaningful results from their outreach. 

The failure usually stems from a fundamental misunderstanding of what makes effective investor communication.

Generic, self-aggrandizing pitches that lack concrete data or value propositions are routinely ignored by investors.

In this article, we’ll break down if cold outreach actually works for fundraising purposes and what are some cold email strategies through which you can convince VCs to invest in your idea.

Does Cold Email Actually Work in Fundraising?

Allie Janoch, founder of Mapistry, is the embodiment of what can be achieved through cold emailing.

Allie was able to raise a $2.5M seed round from Jason Lemkin, founder of SaaStr, through cold emails.

In fact, Jason Lemkin has actually shared examples of startups he’s invested in through cold emails:

• Salesloft: Sold for $2.4B
• Talkdesk: Now valued at $10B
• Pipedrive: Exited at $1.5B

These founders reached out to him without prior warm introductions and secured meetings because their cold emails were well-structured and highly relevant to Jason’s interests. 

That said, cold emailing isn’t a shortcut to securing funding. 

As Allie Janoch said, her winning email required hours of research and multiple iterations to position her business strongly. 

Not every investor will agree to a meeting from a cold email, but some definitely will and that’s exactly why it’s worth giving a shot.

In fact, some investors openly express their willingness to meet founders who reach out this way.

The real question, however, is HOW to send cold emails for sponsorships.

Top 8 Cold Email Strategies for Startups Raising Funds

Cold emails that actually get opened, read, spike investors’ interest, and get them to reply back to you take a lot of effort. 

But if done in the right way, the effort has the potential to secure your startup sufficient funding to grow.

Here are the top cold email strategies that have helped several startups pitch their product the right way.

1. Realize That It’s A Numbers Game

First things first, fundraising is as much about persistence as it is about your product. Even with great funding email ideas and a compelling pitch, you won’t win every investor over. 

Cold email outreach for startups is a numbers game where you must expect a lot of silence and rejection along the way.

Success rates for cold emails are very low. So, keep sending short, personalized emails, and don’t take rejections personally.

For example, send at least 1,000 and expect to get back less than 10 responses that lead to a call.

Most importantly, don’t rely on one or two big names to carry your round. 

Diversify your investors mailing list, mix in smaller firms or angel investors, and always be expanding your network. Volume, combined with precision targeting, is what leads to results.

2. Personalize Your Outreach

Sending the same email to every investor won’t get you far. Investors can easily tell when a message is a generic template, and they’re quick to ignore it.

You must take your time to think about your investor outreach plan and how to personalize it. Research each investor thoroughly before you hit send. 

Ask yourself:

• What industries and business models do they focus on? 
• What patterns can you spot in their portfolio? 
• Have they written blog posts or shared insights about what they value in startups?

Investors like founders who do their homework and understand how to create mutually beneficial relationships.

The more specific and genuine your email is, the better your chances of a response.

3. Keep It Short And Sweet

Investors receive hundreds of pitches each week, so your email needs to be sharp, clear, and to the point in order to be read. 

Start with a strong opening line that acts as a one-sentence pitch, something compelling enough to spark their interest. 

Follow it with a brief explanation of why you’ve reached out and how your vision aligns with their investment focus.

Use bullet points to keep the email skimmable and highlight the following essential details:

• A quick intro to the founders
• The problem you’re solving
• How your product provides a unique solution
• Traction and growth metrics
• Current funding round details
• Credibility boosters (lead investor, patents, signed partnerships)

4. Connections First, Funding Later

Think about the last time you opened an unsolicited email trying to sell you something you didn’t ask for. Did you reply? Did you even read it? 

Now imagine how an investor feels when they receive a random pitch from someone they don’t know, asking for money. “Do you want to invest?” Most responses to that will be a hard “no”—if there’s a response at all.

Your cold email strategies need to shift from transactional to relational to get your startup noticed and build real momentum. 

Focus on connections first. Seek advice, mentorship, and feedback before asking for funding. 

Be a thoughtful, coachable founder eager to learn. Over time, your rapport will build trust and lay the groundwork for future investment conversations.

5. Explain How Your Product Solves A Specific Problem

Pitches don’t secure funding. Products that solve real problems do. When reaching out to investors, it’s not enough to present a flashy deck or a grand vision. 

You need to show how your product directly addresses a pain point they care about.

Tailor your email to highlight exactly how, with numbers, your product fits within the context of the investor’s portfolio companies.

Articulate clearly how it creates value to be seen as a compelling, problem-solving proposition worth considering rather than just another pitch.

Investors will naturally have questions if they’re intrigued, so make sure you know your solution inside and out. Be ready to discuss market demand, competitive advantages, user traction, and more. 

6. Attach A Pitch Deck To Reduce Friction

Investors are busy. They receive countless emails daily, so asking them to request more information or schedule a call to understand your startup adds unnecessary steps. 

Your pitch desk gives investors everything they need upfront to evaluate your business. It should answer these questions immediately: 

• What problem are you solving?
• How do you solve it?
• What’s the market potential?
• How do you make money?

Make sure it is structured, focuses on one core idea per slide, contains financial projections, traction metrics, and a clear business model. 

Investors want to know how and when they’ll see returns.

Also, use visuals to tell your story. 

7. Proofread, Proofread, Proofread, And Proofread One More Time

There’s nothing worse than addressing a potential investor with “Hi X” or “Hi Default” because of a forgotten placeholder. 

Even worse, getting the name of the venture capitalist or their firm wrong will likely land your email in the trash.

Don’t rely solely on your own eyes. After hours of writing, your brain will probably fill in gaps automatically. 

Ask a trusted colleague or use a tool like Grammarly or Hemingway to catch the mistakes in your cold email.

Resist the temptation to hit send in a rush. Give yourself a cooling-off period before sending the email to ensure it’s polished and error-free.

8. Don’t Just Stop At Sending Emails

Sending a cold email is only the beginning of the conversation. Investors rarely decide after a single email, no matter how good your cold email strategies were. 

It takes consistent effort to stay on their radar and demonstrate why you’re worth their attention.

Follow up within a week if you don’t hear back. Just make sure you don’t overdo it. 

Even if they don’t respond immediately, keep them updated on your milestones through email sequences. Highlight traction, partnerships, product updates, or anything that shows you’re delivering on your promises.

Reference your previous email or their specific interests. 

For example, “Hi [Name], I wanted to check if you had a chance to review my pitch deck. I’d love to hear your thoughts, especially on [specific section].”

Generate Leads Using Opps AI!

The cold email strategies discussed in the article help startups capture investor attention and spark meaningful conversations. 

Securing investment is a marathon, not a sprint, so you can’t expect it to happen from just one email. Persistence and a data-driven follow-up approach will surely get you far. 

If you want to connect with qualified investors faster, check out Opps.ai, an innovative platform that combines Valet, an AI assistant, with a massive data marketplace. 

You can use it to: 

• Shortlist your ideal investors from a database of 174M+ records
• Create email sequences and LinkedIn campaigns
• Write personalized messages based on your research data

Sign up for Opps.ai today to make smarter connections with investors faster.