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Why investors hate providing feedback to founders
Investors receive a lot of business plans and pitch decks from founders who are seeking capital to start and grow their business. Most investors do not provide enough feedback to founders. In some cases, they provide no feedback at all and simply ignore them.
Here are a some of the reasons why:
Some investors receive thousands of proposals every year. Typically the investors’ junior staff or analyst is responsible for the first review to align the startup with their own investment criteria. If you do not fit their criteria you will simply get a no thanks reply or no response at all. Most investors simply do not have the resources to provide a detailed review and feedback to each company that has applied for funding.
- Business Model
If you do not fit the investors’ criteria, then they will not spend much time with you. There is no incentive for them to spend time writing a report or providing feedback as to why they don’t want to invest.
- Opportunity Cost
As investors make a handful of investments each year they have a regular supply of companies contacting them. This is a missed opportunity because you may not be ready now, but things always change over time. In the minds of investors however, their focus is securing companies that fit their criteria today.
- We always provide feedback
Not getting a response or any feedback is demoralising and tough. Raising capital is hard enough and not having any feedback makes it hard to know what you need to do to improve your chances of securing funding in future. We know first-hand the importance and value of feedback from investors. This is why we always provide you with feedback and also a detailed report for every application we receive.
- Our Business Model
Think of us as the ‘iSelect’ of the venture capital market. We connect you to the right investors that are best suited to your business. We don’t rely on just one investor but rather we have access to over 20,000 venture capital funds from around the world who that have their own investment criteria.
We help match you to the most suitable investors and also facilitate and manage the capital raise process. It is in our interest to provide you with feedback so that you can get better prepared for funding. If we raise capital for you – we both win!
We don’t see providing you with feedback as an opportunity cost. We see it as an opportunity to help you get better prepared, to highlight areas you need to focus on and to get investor ready. In doing so, we increase your chances of raising capital which benefits both of us.