By Jay Doherty, Business Development, LSN
Like many players in healthcare, the Life Science Nation team travel around the world to attend partnering conferences and build dialogue with investors and fundraising CEOs. We’ve had the opportunity to see both the best and the worst in partnering, and have also heard from investors about what catches their attention in a partnering message. Last year, LSN provided a template partnering message designed to increase your response rate when reaching out to investors. Here are some additional tips for successful partnering requests:
Be brief and concise in your outreach. Investors want to see enough information to entertain a meeting, but will not spend all day reading an introductory email. Hit the points you need to and ask for a meeting.
Follow up on your requests. If you have not heard back after a few days, send another message, and follow up with a phone call if possible. Investors are flooded with emails daily and cannot catch every one. Being persistent and politely resending a request will likely get an answer, and hopefully a meeting, quicker than leaving it to chance.
Do not be deterred by a full schedule. Investor schedules will fill up for a partnering event, but that does not mean they absolutely have no time to chat. Be proactive, suggest an ad hoc meeting, or a quick introduction throughout the course of the day. You might not get every meeting you want, but getting in front of an investor for a brief moment will better your chances of securing a meeting down the road.
Make sure you set yourself up for the future. Do not forget to get an investor’s contact information at the end of the meeting. Even if you’re not a fit for their current investment preferences, they might be able to connect the dots for you elsewhere.
By sticking to these fundamentals, you can make it easier for an investor to identify you as a fit for their investment strategy. This will lead to higher response rates and more productive meetings.