A short list of the right investors beats a long list of famous ones. In DocSend's study of seed raises, funded founders contacted about as many investors as unfunded ones, but held far more meetings. The difference was who they picked.
1Write your filter
Before you search, write down what a good fit looks like. It saves hours.
Stage: [pre-seed / seed]. They write first checks at this stage. Sector: [your category], or a thesis that clearly includes it. Check size: [range] (a lead should cover a real share of a $[round] round). Geography: invests in [where you're based or sell]. Not: funds that back a direct competitor.
2Find candidates two ways
Comparables (the best signal): who backed 3 to 5 companies one step ahead of you, with the same buyer, a year or two older? Check those companies' funding announcements and their investors' portfolio pages.
Thesis: who has written or spoken publicly about your space? Fund blogs, partner posts, podcasts.
Free places to look:
- Signal by NFX: investors by stage and sector.
- OpenVC: a free investor database with check sizes and focus.
- Crunchbase free tier: who funded companies like yours.
- SEC EDGAR Form D filings (US): which companies just raised and how much.
- Accelerator demo-day investor lists and "who funded us" posts.
Research [fund name] for a [stage] [sector] startup raising $[round]. Using only public sources, find: stage and check size, whether they lead, sectors, 3 recent investments in or near [sector] with dates, any portfolio company that competes with [one-liner], the partner who covers this space, and their public contact channel. Cite a URL for every fact. If you can't verify something, say "unknown". Never guess.
3Check each fund is still investing
A fund that hasn't made a new investment in 18 months may be out of money or between funds. Look for a recent deal, a new fund announcement, or a partner posting about recent investments. If you can't find one, keep them only with a note, and never at the top of the list.
4Score and tier
Score each investor on three things, using only facts you found:
| What to look for | Weight | |
|---|---|---|
| Fit | Your stage, your sector, a check size that fits the round | Half |
| Signal | Backed companies like yours; investing recently | A third |
| Reach | A named partner who covers this, and a way in | The rest |
Then split the list into tiers:
- Tier 1: the best fits, with a named partner. Aim for warm intros. Pitch them second.
- Tier 2: good fits. Pitch them first, as practice and early signal.
- Tier 3: keep for later.
5Keep it in one sheet
Fund | Partner | Stage | Check size | Leads? | Why they fit | Recent signal (dated) | Conflicts | Warm path | Contact channel | Tier | Source URLs | Status | Next step | Next step date
Never construct an email address from a pattern to fill the contact column. Bounces hurt your domain for every other investor. Use their pitch form, a public email, or a warm intro.
Signal, OpenVC, Crunchbase free and Form D filings, plus the research prompt above. Budget a weekend for 50.
The investor-list skill researches and scores investors into a sheet, and a built-in check blocks any investor without a source.
StartWise researches your first 20 investors free, with named partners and verified emails, matched to your round.
Do it in StartWise →What's next
You know who. Now get the meetings: warm intros and cold emails that work.
Investors who fit your stage, sector and check size, with the partner named. Your first 20 are free. The free steps above still work. This is the fast way.