After years of enduring a bear market and a rollercoaster of challenges, we’ve finally arrived at a turning point. 2023 tested us every step of the way - from ETF hype that raised hopes of a bull market, to brutal market dumps of 50%, political turmoil, and election-season volatility. Month after month, it felt like there was no escape.
But now, there are clear signs of change. While the altcoin season hasn’t yet begun and Bitcoin dominance remains high, we’re already seeing deals close. Even within the InnMind community, startups are starting to secure investments again. The same investors who, just a month ago, insisted they weren’t taking on high-risk early-stage ventures are now beginning to deploy capital.
This shift is exciting, but it also raises a key question: how can you, as a crypto startup, raise VC funding in this evolving landscape?
Methods for Finding Crypto VC Funding
Cold Outreach: The Hardest Path
Cold outreach is often the first method startups consider when seeking funding, but it’s also one of the most demanding. This approach involves reaching out directly to venture capitalists through LinkedIn, Telegram, email, or other channels. While it might seem straightforward, the reality is far more complex. Most VCs receive dozens, if not hundreds, of unsolicited pitches daily, making it incredibly challenging to stand out.
The primary drawback of cold outreach is its inefficiency. For every hundred messages you send, you may only receive a handful of responses—and even fewer will result in meaningful conversations. The constant rejection or, worse, radio silence, can be demoralizing. Following up, keeping track of conversations, and maintaining momentum is a grueling task, both physically and mentally.
That said, cold outreach can work if you approach it strategically. Hiring a dedicated team member whose sole responsibility is to manage this process can help maintain consistency. Using tools like customer relationship management (CRM) software or email automation can streamline follow-ups. However, this method requires significant resources and a thick skin. It’s a numbers game, and success hinges on persistence and resilience.
Personal Networks: The Most Reliable Option
When it comes to fundraising, leveraging your personal network is one of the most effective strategies. Investors are far more likely to engage with startups that come through trusted introductions than with those that reach out cold. By tapping into your network of friends, advisors, and colleagues, you can open doors that might otherwise remain closed.
The first step is to identify individuals in your circle who have connections to investors. These could be advisors, other entrepreneurs, or even professionals you’ve collaborated with in the past. Ask them for introductions, or request that they circulate your pitch deck within their network. These warm introductions often carry more weight, as they come with an implicit endorsement.
The main advantage of using your personal network is the credibility it brings. A recommendation from a trusted source can significantly increase your chances of getting a meeting with a VC. However, this method requires a robust and well-maintained network. If you’re just starting out or lack strong connections in the industry, building these relationships may take time.
Industry Events: A High-Cost Gamble
Industry conferences and events have long been a staple of networking in the crypto and Web3 sectors. Events like DevCon in Thailand or major summits in Dubai provide startups with the opportunity to pitch their ideas directly to investors, often in a more informal setting. For many, these gatherings are a chance to meet potential backers face-to-face, make an impression, and foster long-term relationships.
However, attending these events comes with significant costs. Travel expenses, accommodation, and event tickets can quickly add up, often reaching tens of thousands of dollars. If you plan to set up a booth or exhibit your startup, the costs climb even higher. Additionally, while these events can be a great way to meet investors, there’s no guarantee of success. Many investors attend these events more for networking and relaxation than for serious deal-making.
Despite the high cost and uncertain outcomes, events can still be valuable if approached correctly. Do your research beforehand to identify which events are most relevant to your target investors. Prepare a compelling pitch and focus on making genuine connections rather than simply handing out business cards. While this method may not yield immediate results, the relationships you build could prove invaluable over time. You can check some of the upcoming web3 events in the InnMind events calendar and get extra perks if you decide to attend.
InnMind: The Targeted, Cost-Effective Solution
Platforms like InnMind offer a modern, streamlined approach to raising VC funding. Designed specifically for crypto and Web3 startups, InnMind connects entrepreneurs with a network of active investors looking for high-potential projects. Unlike traditional methods, which often require significant time and resources, InnMind provides a targeted, cost-effective solution for fundraising.
Creating a profile on InnMind allows you to showcase your startup’s strengths, including your product, traction, and vision. From there, you can participate in exclusive pitching sessions where you’ll have the chance to present your project directly to investors. These sessions are not only efficient but also highly impactful, as they give you the opportunity to engage with a concentrated audience of VCs. Also not to make this article too big I won’t talk about the special acceleration program for fundraising InnMind has, but trust me this is your cheapest and most efficient way to close your round when it comes to fundraising.
One of the biggest advantages of using InnMind is its cost-effectiveness. Attending global conferences or hiring a dedicated outreach team can be prohibitively expensive, especially for early-stage startups. In contrast, InnMind provides access to a large pool of investors at a fraction of the cost. Even if you don’t secure funding immediately, the platform helps you build visibility and establish relationships that can lead to future opportunities.
The key to success on InnMind is preparation. Make sure your profile is complete and professional, and tailor your pitch to address what investors are looking for. By leveraging the platform’s tools and resources, you can maximize your chances of success while minimizing wasted effort.
Conclusion
Raising crypto VC funding in 2024–2025 is both an art and a science. Each method—cold outreach, personal networks, industry events, and platforms like InnMind—comes with its own set of challenges and opportunities. While no single approach guarantees success, combining these strategies and tailoring them to your strengths will give you the best chance of securing the funding you need.
The crypto market is shifting, and the time to act is now. Platforms like InnMind offer a targeted, cost-effective way to connect with investors, making them an essential tool in your fundraising toolkit. Whether you’re just starting out or looking to scale, the right approach can make all the difference.
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Ivan Orlov
Ivan Orlov
