Founders Issue #40: Warm Up the Cold Email Subject Line

Subject Lines Are the First Impression

First impressions matter, especially when there is a large request on the table.
Cold emailing VCs is usually required for most founders who are not immersed in the VC ecosystem, and even if they are, they don’t always know all the relevant funds or have mutual connections. This makes the cold email critical for the fundraising process.

The problem is that most VC investors receive tens of emails per day from cold outreach and don’t have time to read through each one. They tend to focus on the ones that catch their interest. So, how do you create that email that is opened?
While the entire email is important, the most important element is the subject line. It is what will determine if the email is ever opened, to begin with. It needs to convey both relevance to the investor and the importance of the deal.

Many founders will use “investment opportunity”, “look at our pitch deck”, “join our Series A”, or “looking for VC funding” as their subject line. However, this tends to have low conversion rates to managers opening the emails. There is no relevant information or key details to attract their attention. It looks like every other email they will receive from founders.

As a founder, try subject lines that describe your startup, the deal, a reference, or the best traction metric. It is always good to include the name of your startup, but it is much less important than conveying the relevance of the deal to the VC. Focus on which parts of your startup each VC will focus on.

Some examples can include:

• “Series A - AI startup scanning genes – 2x founder”
• “Biotech startup with 150% YoY growth – Pre-Seed”
• “XYZ Ventures Introduction – B2B – Has Lead”

There are a few rules that will help craft this subject line:

1. Keep it Less Than 50 – 60 Characters. Most phones only show about 40 characters, which means keeping the subject line short is critical. Try working with no more than 8 carefully chosen words.
2. Avoid Emojis. This is usually perceived as unprofessional and can also easily be confused with spam.
3. Research the VC. Craft the subject to the specific VC. If they are sector-focused, highlight the relevance in the subject line. If they are generalist but at a specific stage, make sure you highlight your funding stage. If they only invest when there is a secured lead, that would be important to mention.
4. Avoid Basic Terms. Don’t use phrases such as “investment opportunity” or “raising capital”. They add little value and are taking the space of other critical information. 

Cold emailing is difficult (and we plan on discussing other elements in future issues) the subject line should be crafted carefully. It is perhaps the most important part of the email that will influence the response rate. It is your first impression that captures the VC’s attention and tells the investor why they should open this email.

If you are looking for help crafting these cold emails book a coaching session here with Jason Kirby.

Fundraising Demystified Episode #15 is Live!

In the latest episode, we interview Nicolas le Jeune, founder of Courtyard.io, sharing his insightful journey in the world of startups and NFTs. Join us for an engaging conversation about his experiences and valuable lessons learned along the way.

Here are 3 key takeaways from this episode of "Raising Capital Before the Crypto Collapse: Lessons from Courtyard.io Founder Nicolas le Jeune” that you won't want to miss:

1. Building a Strong Team: According to Nicolas, assembling the best team is his biggest accomplishment. He emphasizes the importance of focusing on forming a committed and supportive team, rather than relying solely on traction or product-market fit. The right team can be a game-changer in the success of your startup.
2. Confidence is Key: Investors want to be convinced of your business, so be confident about your product or service. Nicolas advises being the most interesting person in the room by truly believing in what you're offering. Treat every investor meeting as the most important one, and remember, if they aren't interested, it's their loss, not yours.
3. Raising Extra Money Before the Collapse: Nicolas recognized the market was trending downward and decided to raise additional capital while it was still possible to maximize his runway and give his company a fighting chance to survive the crypto winter. Listen Here

Jason has already roasted 20+ decks during this weekly event. We have received incredible feedback from founders who had their decks roasted or just came to watch.

Click the link below to submit your deck to receive feedback on how a VC would look at it. This is a RARE opportunity, so don't miss your chance! RSVP Here

What the Experts Have to Say

How To Craft Powerful Email Subject Lines For Investors

Mistakes many founders make when reaching out to VCs and "tricks" they use that usually don't work. Read More

The Email Pitch

Article with many examples of what you should and should not do when writing a subject line and another part of a cold email.  Read More

How to Cold Email an Investor

An early-stage VC investor explains what he wants to see in a cold email from a startup and how to increase the odds of the email being read. Read More

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Written by Jason Kirby - https://www.linkedin.com/in/jasonrkirby
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