Episode Summary
Executive Summary: Stefan von Perger explains how founders should approach VC fundraising: raise for a specific growth phase, contact investors through trusted introductions, tailor outreach, show traction and coachability, and follow up with meaningful updates. He emphasizes that investors back people as much as products, and that fundraising works best when founders are clear, realistic, and deliberate.
Main Topics: Why founders raise VC money (Priority: 5/5): Stefan argues founders should raise external capital to accelerate high-growth businesses beyond organic, profit-funded growth, with a clear milestone-based plan for what the round will achieve. How to get introduced to VCs (Priority: 5/5): Warm introductions via angels, prior founders, or relevant network contacts are preferred over cold outreach, and founders should identify the right investors through shared connections. Crafting effective outreach (Priority: 5/5): He recommends concise materials, ideally a shareable 10-slide deck and a personalized email that references the investor’s background or past work, rather than blanket messaging. What investors want to see in meetings (Priority: 4/5): Founders should use meetings to tell a compelling story, demonstrate traction, and build rapport; being punctual, respectful, and easy to work with matters significantly. How founders should follow up (Priority: 4/5): If a VC is slow to respond, founders should send polite nudges with new positive updates—such as client wins or hiring progress—to help re-energize internal discussions. How VCs evaluate startups (Priority: 5/5): Stefan says he looks first at traction and what has already been built, cares about realistic market sizing, and values deals where the team is strong and the investor is genuinely excited. What VCs add beyond capital (Priority: 4/5): He highlights investor value in introductions, portfolio best practices, and experience from seeing similar situations repeatedly, not just money or market access.
Key Arguments: Founders should raise money to accelerate a clearly defined next phase of growth, not simply because they want cash in the bank. The best fundraising pitch explains what has been built, what will be achieved with the next round, and why the founder/team is uniquely suited to do it. Warm introductions from angels, founders, or trusted network contacts are much more effective than generic cold outreach. Personalized outreach that references the investor’s prior experience or investments makes the interaction easier and more compelling. A short, shareable deck is useful for generating interest, while a fuller deck can support the actual meeting and storytelling. Investor meetings are relationship-building exercises; punctuality, warmth, and coachability matter as much as the slide content. Founders should follow up with concrete progress updates to give investors more reasons to advocate internally for the deal. Market sizing should be realistic and honest; it is better to understand the addressable portion of a market than to exaggerate TAM. Investors should only back startups they are genuinely excited about, because lack of enthusiasm is a valid reason to pass. VC value extends to introductions and operational best practices drawn from repeated exposure to similar startup challenges.
Data Points: Podcast episode: Episode 35 - 20 Minute VC featuring Stefan von Perger Stefan's fund focus: Seed and Series A - He says Wellington Partners targets earlier-stage rounds Previous year mentioned: 2009 - Stefan says he went to McKinsey after university back in 2009 Initial outreach deck size: 10 slides - Stefan recommends a short PDF/PowerPoint to spark investor interest Meeting deck size: 10 to 25 pages - What Stefan would bring to a founder meeting to explain the business Investment example company: Onfido - His most recent investment discussed in the quick-fire round Onfido team size mentioned: 3 guys - He describes the founders as three guys from Oxford Follow-up frequency: Once or twice - He says it is okay for founders to follow up gently one or two times Market example: 10% commission - He uses marketplace commission as an example of why apparent market size can overstate addressable market
Pivotal Quotes: "I think it's really important to define clearly where you are right now as a founder and where you want to get with the money because if that's not clear, we're not just a bankrolling machine to cover your costs." — Stefan von Perger: On the purpose of raising venture funding "It's really all about getting other people to sort of lobby for you." — Stefan von Perger: On the best way to get introduced to investors "I think the thing is, I think as an entrepreneur, you need to understand that the investors are working on several things at the same time." — Stefan von Perger: On why founders should be patient and follow up appropriately
Implications: Founders should treat fundraising as a strategic process: clear milestones, warm intros, tailored outreach, and evidence of traction improve odds. For VCs, relationship quality and founder execution remain central to decision-making.