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“God, do I hate radio silence,” I said to my friend and mentor, Dave. “Why don’t VCs just let me know they just don’t want to invest instead of leaving us hanging?”
Dave smiled and nodded his head in agreement. He had been a VC and he’d been a founding CEO too, so he knew what I was saying was true. “I tried to let the entrepreneurs I spoke with know that I wasn’t going to invest,” he said. “But I was nowhere near perfect. I was just so busy that sometimes a company that I was lukewarm on would fall through the cracks.”
Investors not getting back to you is one of the most frustrating things that you have to deal with when you’re raising money. It seems like the investor is excited about you, but then, they stop responding.
And it leaves you with the question about what you should do.
It sucks when an investor doesn’t get back to you.
Most of the time, it means the investor is passing. However, you should continue following up.
When we were raising our Series B funding, we received a term sheet from “Robbie”. He’d given us the term sheet that we’d signed the week before, and now he went dark.
