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React well to declines
CEO Briefing #34

React well to declines

React well to declines
Short answer

When a VC declines, founders should reply as fast as possible and show what a strong founder they are. Do not argue or try to reverse the decision, and do not ask for random intros. Thank the investor, especially after detailed feedback, and leave the process with a strong impression and with honor, ideally with some humor.

When a VC declines, always get back to them as fast as possible (yes, in this case, it makes no sense to let them wait) and show them last time for now what a strong founder you are with your reaction. The worst is when I send a decline and a founder tries to convince me to take my decline back–this will never happen. Don’t argue anymore. Also, don’t ask for random intros, especially not when the investor doesn’t know you well.

Sometimes, I send long decline messages and take the time to explain in detail my reasoning. I hate it when founders then don’t get back to me with a short thank you. Some don’t get back ever, even after we spent some substantial time together along the process–it seems I turned useless the moment I declined.

Leave the process with a strong impression and with honor. Here is an amazing example of such a reply from a founder that I just love:

Another example: When I told a founder team the reasons for my decline, I gave the CTO the feedback that he could work on being more succinct with his answers. He sent me later a very kind message, containing the following sentence:

“If you think at any point I can be helpful to you for an intro or want a technical (potentially non-succinct ) opinion on some opportunity just ping me”.

How amazing–he offered his help and took my feedback with humor. Loved it, too.

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Episode page with show notes on id.vc

Frequently asked questions

How should a founder respond when a VC declines?

Reply as fast as possible and use your reaction to show what a strong founder you are. Thank the investor, especially if they took the time to explain their reasoning.

Should I try to change a VC’s mind after a decline?

No. Trying to convince an investor to take back a decline will not work. Do not argue anymore.

Can I ask a VC for intros after they decline?

Do not ask for random intros, especially when the investor does not know you well.

Iskender Dirik
About the author

Iskender Dirik

CEO advisor for fundraising, exits and executive branding. Venture Partner at EQT Ventures, previously led the global Gen AI practice at Samsung NEXT and was Managing Director of Microsoft ScaleUp. Host of DEALMACHER, the podcast with the dealmakers who sat at the table when big capital moved.

EQT VenturesSamsung NEXTMicrosoft ScaleUp
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