warm intro

Definition

An introduction to an investor or customer through a mutual connection, vastly more effective than cold outreach. The difference between your email being read and being instantly deleted by an EA.

Example Usage

I've been trying to reach Sequoia for months, but I finally got a warm intro through my accelerator mentor.

Origin

Sales and networking terminology adapted to venture capital

Fun Fact

Studies suggest warm intros to VCs are 10-13x more likely to result in a meeting than cold emails, which is why LinkedIn exists.

Source: Venture capital and sales networking terminology

Related Terms

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vulture capitalist

A pejorative term for investors who swoop in during distressed situations to extract maximum value at founders' expense. The same people who call themselves 'value investors' on their websites.

🚀 Startup / VC

Advanced

halo effect round

A funding round that attracts investors primarily because a prestigious VC or strategic investor has already committed, rather than on the company's standalone merits. One famous name creates a stampede of followers.

🚀 Startup / VC

Intermediate

management fee

The annual fee (typically 2% of committed capital) that VC fund managers charge to keep the lights on, whether or not they make good investments. The guaranteed money that pays for offices, salaries, and kombucha before carried interest kicks in.

🚀 Startup / VC

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Traction

Evidence that people actually use your product, which is the startup world's version of proof of life. Investors ask about traction the way parents ask about grades -- they already suspect the answer is disappointing but want to hear you say it.

🚀 Startup / VC

Intermediate

extension round

Additional capital raised on the same terms as the previous round (like a Series A-1) rather than progressing to the next stage, buying time without the stigma of a flat or down round. The startup equivalent of taking an incomplete rather than failing the course.

🚀 Startup / VC

Advanced

graduated rights

Term sheet provisions where investor rights decrease as the company hits performance milestones. A way to say 'we trust you more as you prove you're not incompetent.'

🚀 Startup / VC

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