Ask HN: I got an intro to a VC, but am not ready to pitch. Now what?

5 points by kolosy 16 years ago | 4 comments

A conversation with a buddy turned into an email introduction ("vc meet buddy, buddy meet vc") to a vc, but we're still a month or two out from being ready for a pitch. should i...

a) leave the email be for now, and respond when we're ready b) send an honest "we're thrilled for the introduction, but aren't ready to talk just yet, can we email you when we are?" c) try to start a dialog more so than a pitch, get his input on the idea, and develop a relationship

pg 16 years ago |

Was it to an associate or partner? If to an associate, it doesn't matter what you do, because it wasn't actually worth anything: meetings with associates almost never lead to deals.

If it's to a partner, I'd ask the partner. Say "we're not raising money yet. Would you like us to come in and have an informal convo, or would you rather wait?" Then most of the pressure's off, but you can still start a conversation that might lead to funding later. Or in the ideal case the partner will say "I love this so much I want to invest now." But don't get your hopes up about that.

kolosy 16 years ago | |

"founding general partner" is what the bio page says.

pg 16 years ago | | |

That's definitely a partner. Though ironically it is likely to mean this isn't a top tier firm. Most of the top firms (with the exception of e.g. Union Sq and Andreessen Horowitz) are old enough that most partners aren't founders.

pedalpete 16 years ago |

I would definately follow-up with at least a thanks for the intro, and give a quick introduction of yourself, maybe your team, but keep it short.

Do a bit of research on what the partner specializes in, and make sure that fits with what you are building. Give a bit of insight into what you are doing, so that the partner can associate you with a project/product, and be sure to let him know that you don't think you're ready for a meeting yet.

Basically, you want to build a bit of rapport. Keep in mind, that a pitch is as much for you to learn and get a feel for the VC, as it is for them to get to meet you.

So, yes to #2.