Filter by four things: stage (do they write pre-seed cheques?), sector (have they backed companies like yours?), geography (do they invest where you are incorporated?) and cheque size (does your round fit?). Confirm each with a recent deal, then rank by fit and by how you can reach them. Aim for 50–150 names.
- Stage fit is the first filter: many "seed" funds rarely write pre-seed cheques.
- Verify with a recent investment, not a website thesis.
- Check geography and entity requirements (some funds need a Delaware company).
- Your round must fit their typical cheque size.
- Rank by fit × reachability; start with the top third.
What are the four filters?
| Filter | Question | How to check |
|---|---|---|
| Stage | Do they invest at pre-seed? | Recent deals and announced round sizes |
| Sector | Have they backed companies like yours? | Portfolio pages, partner posts |
| Geography | Do they invest in your country and entity type? | Portfolio locations; ask about Delaware requirements |
| Cheque size | Does your round fit their typical ticket? | Fund size, published ranges, co-investors |
Where do you find candidates?
- Announcements of rounds in your sector and country (press, newsletters, LinkedIn).
- Portfolio pages of funds that back adjacent companies.
- Angels who are operators in your industry.
- Accelerator and programme investor lists.
- Founders one or two rounds ahead of you: ask who backed them and who was helpful.
- Discovery platforms where investors browse founders directly.
Why not just use a big database?
Large directories are a starting point, but many profiles are thin or out of date: a sector tag and a website link, with no recent deal or cheque size. Use them to generate names, then verify each one yourself. See how to research a VC in 20 minutes.
How do you prioritise?
- Score each investor on fit (stage, sector, geography, cheque) from 1 to 3.
- Score reachability: warm intro, portfolio founder, cold.
- Start with high fit and high reachability; send in waves.
Then reach out with a short, specific email or one of seven routes without a warm intro. The full process is in how to raise a pre-seed round.
What does a good list look like?
| Name | Type | Stage fit | Recent relevant deal | Cheque | Route in | Priority |
|---|---|---|---|---|---|---|
| Partner, Fund A | Seed fund | Leads pre-seed | Fintech, Berlin, 6 months ago | Fits | Portfolio founder | 1 |
| Angel B | Operator angel | Pre-seed | Logistics SaaS, last year | Small | LinkedIn, cold | 2 |
| Partner, Fund C | Seed fund | Mostly seed | Fintech, US | Too large | Event | 3 |
How do you find a lead?
Pre-seed rounds stall without someone willing to set terms. Leads are usually small funds or experienced angels who invest regularly. Look for investors who have written the first cheque in companies like yours, not just joined rounds. Ask them directly in the first meeting: "Do you lead at pre-seed?"
Where does geography matter?
- Some US funds invest only in Delaware companies. See Delaware flip from Germany.
- European funds may prefer local companies and local legal documents.
- Angels often invest close to home, where they can help.
How do you keep the list current?
Investors change funds, stop investing or shift focus. Before each outreach wave, recheck the last deal date and the partner's current role. A short note in your list ("last checked: date") prevents embarrassing emails to someone who left the fund. Use our 20-minute research checklist for the top names.
Frequently asked questions
How many investors should I contact for a pre-seed round?
Commonly 50–150 well-matched investors, approached in waves.
How do I know if an investor invests at my stage?
Check their recent deals and the round sizes they joined, not only their website.
Are investor databases worth using?
They help generate names, but many profiles are incomplete or outdated. Verify each investor yourself.
Should I contact multiple partners at the same fund?
Usually contact one partner whose focus matches yours.
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Educational material, not legal, tax or investment advice. Rules and figures change; confirm with qualified counsel or a tax adviser in your jurisdiction before acting. Last updated October 6, 2026.