By Peggy O’Flaherty, founder and CEO of Scout and creator of the Go-to-Network framework
You get a warm introduction to an investor by qualifying them first, finding someone you know who already has their trust, and making an ask that’s easy to forward. The qualifying step is the one most founders skip, and it’s the reason so many intros go nowhere.
I’ve raised $3.7 million across my career, including $500,000 for Scout. Every one of Scout’s six investors came through a warm connection.
Why do warm introductions matter so much in fundraising?
I pitched more than 100 investors to finish Scout’s raise. The best conversations came from warm introductions, and so did every check.
Investors see far more pitches than they can take. A cold email asks them to trust a stranger. An introduction from someone they already know borrows that person’s credibility, so you start the meeting halfway to yes.
How do you qualify an investor before asking for an intro?
Check five things before you ask anyone to make an introduction. If an investor misses on any of them, the intro wastes your connector’s goodwill and the investor’s time.
- Thesis: Do they believe in the problem you’re solving? Check their website, blog posts and podcast interviews.
- Deal stage: Do they invest at your stage: pre-seed, seed or Series A? Check recent deals on their site or Crunchbase.
- Check size: Does their typical check fit your round? Check portfolio announcements and founders they’ve backed.
- Verticals: Have they invested in your market or one next to it? Check their portfolio list.
- Timing: Are they actively deploying from a current fund? Check fund announcements and recent investments.
This is also what makes the intro easy to say yes to. A connector will happily forward an ask when they can see it fits.
How do you find a path to the right investor?
Start with the investor, then work backward to who you know that knows them. Most of your paths run through second-degree connections: former colleagues, classmates, advisors and founders who’ve already raised.
I met Tim Connors, now Scout’s lead investor at PivotNorth, 30 years ago through a Notre Dame connection. A shared contact made the introduction. That relationship sat in my network for decades before it became a check.
That’s the part founders underestimate. The investors most likely to back you are often people you’ve known for years, or people one introduction away from someone you have.
Why should you give before you ask?
The strongest investor introductions start with you helping them.
Brad Feld heard we were building a community platform. He needed a place to host a community conversation after his latest book launch, and Tim introduced us. We started by solving his problem. Brad launched a community on Vinly, the platform that came before Scout, and it grew to more than 500 people. The investment conversation came after that.
Look for what an investor needs right now: a hire, a customer for a portfolio company, an audience for something they’re launching. Helping first turns you from one more founder asking for money into someone they already want to work with.
How do you ask for an investor introduction?
Send your connector two things: a one-line reason you’re asking, and a short note they can forward without editing. Something like this:
Hi Sam, would you be open to introducing me to Jordan at Northside Ventures? They led two seed rounds in founder tools this year, and we’re raising $500K for one. A short note you can forward is below. No pressure either way.
Forwardable note: Jordan, I’d like to introduce Peggy O’Flaherty, CEO of Scout. Scout helps founders turn their network into pipeline, and she’s raising a $500K seed round. Given your founder tools investments, I thought it was worth a conversation. Open to an intro?
The names are placeholders. Swap in yours, and keep the fit reason specific. “They invest in our space” isn’t enough. Name the deals.
Ask your connector to check with the investor first before sharing your email. That’s a double opt-in introduction, and investors respond better when they’ve said yes before your email arrives.
What mistakes do founders make asking for investor intros?
- Asking for intros to investors who don’t fit. A seed founder asking for a Series B fund burns a favor and gets a polite no.
- Asking “Do you know any investors?” It’s too vague to act on. Name the investor and say why they fit.
- Making the connector write the email. If they have to explain your company, the intro often never gets sent.
- Asking only when you’re desperate. Build the relationships before you raise. Investors invest in lines, not dots.
- Never closing the loop. Tell your connector what happened, even if it’s a pass. It’s what makes them say yes to the next ask.
Frequently asked questions
How do I get a warm introduction to an investor?
Qualify the investor on thesis, stage, check size, verticals and timing. Find someone you know who knows them, then send that person a short note they can forward without editing.
Do investors really prefer warm introductions?
Yes. Founder Peggy O’Flaherty pitched more than 100 investors to close Scout’s $500,000 raise, and all six of Scout’s investors came through warm connections.
What if I don’t know anyone who knows the investor?
Look at second-degree connections: former colleagues, classmates, advisors and founders in the investor’s portfolio. Tools like Scout map your network to find those paths.
What should an investor intro request include?
The investor’s name, why they’re a fit with specific deals or theses, what you’re raising, and a forwardable note your connector can send as-is.
What is a double opt-in introduction?
The connector asks the investor if they want the introduction before sharing your contact details. Both sides agree before they’re connected.
How does this relate to Go-to-Network?
Go-to-Network is the first phase of go-to-market, where founders sell to the people who already trust them. Fundraising runs on the same network and the same system.
Find your warm path to an investor
Scout maps your email, calendar and LinkedIn contacts and shows you who already knows the investor you need. Map your network for free.