Founders often experience silence from venture capitalists during fundraising, a phenomenon commonly referred to as "ghosting." Jason Lemkin, a SaaS industry expert, explained on October 14 that this behavior is similar to prospects in sales ignoring follow-ups. He advised founders to treat VCs like sales prospects by following up two to three times before giving up, emphasizing that silence is not personal but part of the process, according to saastr.com.
Lemkin noted that VCs get overwhelmed with emails and sometimes forget to respond, which is not an excuse but a reality of their workload. He suggested founders send check-in emails a few days after initial contact if they do not hear back. The key is to keep the pipeline active and not wait too long between follow-ups, as time generally works against deal progress. This approach aligns fundraising with sales tactics, where persistence and timely communication are critical, saastr.com reported.
This perspective highlights the fundraising process as a sales cycle where startups pitch their equity to investors who act as prospects. Lemkin pointed out that once startups become highly successful, they can afford to ignore VCs due to overwhelming inbound interest. This mirrors companies like Calendly and Canva, which receive more investor attention than they can handle. The advice to treat VCs as prospects underscores the competitive nature of venture funding and the importance of proactive engagement, saastr.com said.
Lemkin’s guidance recommends founders follow up up to three times with VCs, asking if they need additional data or time, but cautions against excessive persistence. He stressed that maintaining a robust pipeline of potential investors is essential to meeting fundraising goals. This advice was shared publicly on October 14, 2026, on the SaaStr platform, providing a practical framework for founders navigating venture capital outreach.