How To Cold Email Investors - Michael Seibel

Core Objective of Cold Emails

• The primary goal is to secure a reply, not an immediate investment or meeting.
• Investors require 60 seconds or less to read the initial message.
• Success is measured by the ability to start a conversation, which can evolve into a relationship and eventual meeting.

Required Content in the Pitch

• Essential Data Points: The email must explicitly cover:
  • The specific problem being solved.
  • The proposed solution.
  • Current status: whether launched or existing traction/growth.
  • Market size estimation.
  • Team composition: existence of co-founders and coding capabilities.
  • A controversial insight or unique market knowledge others lack.
• Formatting Constraints:
  • Avoid narratives, history, or storytelling about the idea's origin.
  • Use simple language accessible to a non-industry friend; avoid jargon.
  • Provide raw facts rather than a sales pitch.

Sender Credentials and Attachments

• Email Address: Send from a company domain with a personal name (e.g., name@company.com); generic addresses like info@ or weird personal formats are discouraged.
• Verification: Investors use tools (e.g., Reportive, Superhuman) to identify senders; non-standard addresses hide this data.
• Pitch Decks:
  • Attachment is optional.
  • If attached, it must follow the standard Silicon Valley format (e.g., Airbnb's fundraising deck).
  • Do not use industry-specific styles from finance or marketing; non-standard decks may be rejected.

Tracking and Metrics

• Use email tracking tools to monitor open rates and ensure investors actually view the message.

Critical "Don'ts" for Founders

• Do Not Write Long Emails: Excessive length or density burdens the investor and discourages replies.
• Do Not Request Immediate Meetings: Asking for an in-person meeting or call upfront is perceived as pushy and reduces the likelihood of a response.
• Do Not Spam Follow-ups: Multiple rapid follow-ups are unnecessary if open rates are tracked; trust the investor's decision to reply later.
• Do Not Withhold Value: Never send a message promising to explain the business only after a meeting.
  • The correct order is to briefly state what the company does first to generate interest.
  • Withholding the "what" lowers the founder's leverage; the investor should be the one seeking more information.