Startup 2 Standup 
Five practical takeaways
- A pitch deck does not automatically make a business ready to raise.
- Angel investors can come from several different sources.
- Investor relevance matters more than clever messaging or sheer contact volume.
- Follow-up is an essential part of fundraising.
- Founders must clearly explain the problem, progress and purpose of the raise.
Summary
In our Startup 2 Standup guest speaker session, Scribe co-founder Rob Cossins explained how early-stage founders can find and approach angel investors.
His practical advice focused on becoming investment-ready, using several investor sources, targeting the right people, adapting outreach to the stage of the raise, and managing follow-up consistently.
What did we take away from the session?
Finding a list of investors is only one part of fundraising.
The business, targeting, message and follow-up still need to work together. Rob’s central point was that investor outreach is more effective when the business is ready, the contacts are relevant and the founder is organised enough to manage the relationships that follow.
Here are seven clear takeaways from the discussion.
Takeaway 1: Make sure the business is ready before raising
What does being ready actually mean?
Rob challenged the idea that fundraising readiness is mainly about having a polished deck, financial model or data room.
We need to be able to answer more basic questions:
- What are we raising for?
- What will the money allow us to achieve?
- What traction, progress or market evidence supports our story?
- Why are we confident in the opportunity?
Rob’s view was that some founders start fundraising too early, before the story, use of funds or founder conviction is clear.
A polished deck cannot replace founder conviction.
Takeaway 2: Look for investors in more than one place
Where can angel investors come from?
Rob identified five potential sources:
| Investor source | Why it may matter |
| Personal network | Existing relationships can open early conversations |
| Introductions | Founders, advisers and investors can connect us |
| Customers or prospects | They may already understand the problem |
| Events | We can meet, pitch and build relationships |
| Investor data | Research can reveal people backing similar companies |
Investment may come from one of these routes or from several of them. Rob noted that strong fundraising processes often use a mixture.
The right room can matter as much as the right list.
Takeaway 3: Target relevance, not volume
What makes an investor relevant?
Rob said investor selection can matter more than the wording of the message.
A fintech founder approaching investors focused on biotech is starting with the wrong fit.
Before contacting someone, we should consider:
- Sector
- Business stage
- Location
- Previous investments
- Recent investment activity
Rob also observed that many angels are geographically aware and often prefer businesses in markets they understand.
Relevance beats reach.
Takeaway 4: Match the message to the stage of the raise
Should the first message ask for investment?
Not necessarily.
Rob suggested using softer language at the beginning of the process. We might ask for advice, introduce the business or invite the investor to see more.
Once the round is further underway, the message can become more direct. We can explain that we are raising, how far through the round we are and what remains.
The first message should open a conversation.
Takeaway 5: Follow up because investors are busy
How much follow-up is reasonable?
Rob said many meetings generated through Scribe’s campaigns were booked after two or three follow-up messages. That reflects Scribe’s experience rather than a guaranteed result for every founder.
A follow-up could:
- Share an update
- Offer a product demonstration
- Show new progress
- Ask whether the investor would like to see more
- Make clear when no further contact will follow
Silence does not always mean rejection.
Structure enables follow-up.
Takeaway 6: Lead with the problem, not the technology
What should make the investment story stand out?
Rob advised founders to dial down the technology and dial up the problem.
AI or another technology may support the product, but it should not become the whole investment story. Investors still need to understand:
- The problem being solved
- Why customers care
- What makes the approach different
- Why the business could win
The distinctive element might be the technology, brand, insight or business model. It must strengthen the story rather than replace it.
Technology is not the problem statement.
Takeaway 7: Treat fundraising as a managed process
Why does organisation matter?
Rob described fundraising as a process involving relationships, perseverance, creativity and adjustment.
The most organised founders track conversations, ask for introductions and keep investors updated. They also recognise that an investor may like the business but not be ready to commit immediately.
A simple CRM or tracker can record:
- Who has been contacted
- Why each investor is relevant
- Replies and questions
- Introductions requested
- Follow-up dates
- Updates sent
Timing cannot always be controlled. Organisation can.
What common fundraising mistakes should we avoid?
- Raising before the investment story is clear
- Targeting investors at the wrong stage
- Approaching unrelated sectors
- Sending generic messages
- Making technology the entire pitch
- Failing to follow up
- Assuming interest means an investor is ready to commit
- Managing investor conversations from memory
What should be on our investor-readiness checklist?
- A clear reason for raising now
- A defined funding target
- A milestone the money will support
- Evidence of progress or traction
- A relevant investor shortlist
- A consistent follow-up system
- A plan if the raise takes longer than expected
For independent background on how angel investment works, founders can read the British Business Bank’s angel investment guidance.
What questions should we ask ourselves?
- What will this investment help us achieve?
- Why should an investor believe the business can win?
- Are we approaching the right sectors and stages?
- What evidence supports our story?
- Who is responsible for follow-up?
- What happens if fundraising takes longer than planned?
How do we help founders think this through?
Our weekly Founder Surgery calls give members space to share real business challenges, seek practical input and connect with other founders.
Members can also access guest speaker sessions, digital founder communities and a Knowledge Bank containing recorded sessions, templates and guides.
You can watch the full discussion with Rob Cossins, explore further expert discussions through our guest speaker archive, revisit sessions on the Startup 2 Standup YouTube channel, and read more practical guidance in Real Startup Questions. Real Founder Answers.
Conclusion
Rob’s session made one thing clear: finding investor names is only one part of raising successfully. We also need a stronger business story, relevant targets, patient outreach and an organised process. A bigger investor list is useful only when the business is ready.
FAQs
Can a pre-revenue founder approach angel investors?
Yes. Rob discussed early-stage and pre-revenue businesses raising from angels, but founders still need a credible story, a clear reason for raising and something that makes the opportunity distinctive.
Is every interested investor ready to invest immediately?
No. Rob explained that some investors may need more progress, another commitment or better timing before making a decision.
Is LinkedIn always better than email?
Not always. Rob reported that LinkedIn had performed better than email in Scribe’s campaigns, but this was Scribe’s experience rather than a universal guarantee.
Do founders need to rely on only one route to find investors?
No. Rob identified five possible sources: personal networks, introductions, customers or prospects, events and targeted investor data. A raise may draw from one or several of them.
Trying to decide whether your business is ready to approach investors? Bring the challenge into a Founder Surgery as a member, or explore Startup 2 Standup membership to learn alongside other founders and expert speakers.
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