Founders often email 100 cold VCs while ignoring investors who already backed them. Your current investors know your metrics best and their willingness to invest again signals strength to the market. Secure their commitments first, then use that proof to approach new VCs.
So why do so many founders start a raise by chasing new investors? Most raises start in the wrong place. Founders build a list of 100 investors they have never met. Their current investors just get their monthly update. They already said yes once, so asking again feels like asking for a favor. But every new investor has one quiet question. Your current investors sit in your board meeting and see the real numbers. Are they investing again? If yes, the people who know the most want more. If no, they probably know something the new investor doesn't. Founders treat their current investors as the past, and the market treats them as proof.
