When we discussed what kind of fund we wanted to build one thing was very clear — we want to build a founder-friendly fund. Being founder-friendly means more than just saying you’re founder friendly. It means designing how we work to enable founders to do more.
One way we can do that is by accepting online pitches without requiring a warm introduction.
The distributed nature of the startup ecosystem in Europe means that the amount of time and social capital required to get warm introductions to venture capital funds can be a huge distraction for founders who want to spend time with their team and customers.
At Series B and beyond founders can rely upon their existing investors for introductions to growth stage investors when the time comes for future rounds. Indeed, at Blossom, we spend time cultivating relationships with later stage funds because we know those introductions are a key part of our responsibilities to our portfolio companies.
However, at Series A, many angels and even local seed funds don’t necessarily have the right connections to introduce founders to the early stage venture capital funds they’d want to lead their round. This can often lead to sub-optimal outcomes where startups end up raising from investors who don’t necessarily share the same global growth ambition as the founders simply because those investors were the easiest to get warm introductions to.
We want to give founders a better option.
So please submit your pitch online. We’ll read it.