How to Build Investor Relationships Before You Need Capital
How to Build Investor Relationships Before You Need Capital
Fundraising isn’t a transaction — it’s a relationship.
And like all great relationships, trust is built over time.
If you wait until your runway is short and stress is high, you’ve already made things harder.
Here’s how to build genuine investor relationships before you need the check.
1. Understand the Relationship Funnel
Think of investor relations like a long sales cycle.
Stages:
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Awareness — They see your name on LinkedIn, Twitter, warm intro, etc.
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Interest — You send a brief update or deck
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Engagement — A few email replies or a casual meeting
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Conversion — When you actually raise, they’re already familiar and warm
Your goal: become familiar, credible, and memorable early.
2. Create a Tiered Investor List
Start with a CRM or spreadsheet and group investors by priority:
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Tier 1: Ideal fit — industry, check size, geography, stage
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Tier 2: Adjacent — interested in the category, more generalist
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Tier 3: Long-term — funds you admire, want to know you exist
Start building light-touch relationships with Tier 2–3 months before raising.
Tools: VCList.co, Crunchbase, Signal
3. Show Up Where They Are
Most VCs are active in places like:
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LinkedIn
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X (Twitter)
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Podcasts
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Panels and webinars
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Startup events (like GCN events)
📌 Tip: Comment insightfully on their posts. Ask thoughtful questions. Don’t pitch — engage.
4. Use Warm Introductions Whenever Possible
A cold pitch is hard. A warm intro is 10x more effective.
Sources of intros:
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Other founders in their portfolio
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Startup accelerators or advisors
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Fellow VCs or angel networks
Don’t just say “can you intro me to X?” — say why you think there’s a fit and what you want from the convo (feedback, insight, etc.).
5. Send Monthly or Quarterly Updates
Even if you’re not raising, investor updates are gold.
Include:
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Wins and traction
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KPIs (users, revenue, product milestones)
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Challenges
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Asks (hiring, intros, etc.)
Tools: Notion updates, Founderpath, Visible.vc
📩 Keep it to one page. Make it scannable. Respect their time.
6. Ask for Advice, Not a Check
Early conversations should be low-pressure:
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“Would love your feedback on our GTM approach.”
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“Curious how you see the [XYZ] market evolving?”
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“What’s one thing you wish founders did better when prepping for seed?”
Most investors love helping sharp founders — especially when not being pitched.
7. Log and Track Interactions
Use a simple CRM (Airtable, HubSpot, Streak) to note:
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Who you met
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When
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What you discussed
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When to follow up
This makes your future outreach feel personalized, not transactional.
8. Stay Visible
Ways to stay top-of-mind:
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Publish short LinkedIn posts
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Share small wins on social
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Thank them publicly if they offer insight
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Engage with their firm’s content
Investors remember consistency and clarity.
9. Be Authentic and Play the Long Game
Don’t fake interest, name-drop, or overhype your progress.
Instead:
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Be honest about where you are
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Ask for help with integrity
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Offer value back (market insights, founder intros, etc.)
Relationships built on authenticity last longer — and lead to faster “yes” when the timing is right.