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Cold Emails That Don’t Sound Like Nigerian Prince Scams
How to write subject lines that spark curiosity, not unsubscribe clicks.
Fund1 Frank
October 22, 2025
You know the investor outreach email that starts like this:
“Dear Sir/Madam, I am reaching out to offer you a once-in-a-lifetime investment opportunity…”
Yeah. Delete.
If your subject line screams spam, the only thing you’re raising is your Gmail spam score.
Cold emailing LPs is unavoidable as an emerging manager. But here’s the thing: your first impression lives or dies in about 3 seconds. You’re either flagged as “interesting, maybe worth a reply” or dumped into the graveyard with all the “I raised a $10M fund in Nigeria with your help” requests.
Let’s break down some Do This / Don’t Do This rules of engagement:
1. Subject Lines That Don’t Make You Look Like a Bot
❌ Don’t: “Exciting Investment Opportunity You Can’t Miss”
✔️ Do: “Intro: Fintech Fund I – Warm intro via [mutual connection]”
✔️ Do (if no mutual): “Emerging fund in [sector] – intro request”
👉 Rule of thumb: If your mom would think it’s spam, it’s spam.
2. Keep the Resume Out of the First Line
❌ Don’t: “I am a graduate of Harvard Business School with 17 years of operating experience, 3 exits, and I once played beer pong with Larry Fink.”
✔️ Do: “We’re building a fintech-focused fund targeting overlooked payments infra. Would love to briefly introduce ourselves.”
👉 Think appetizer, not Thanksgiving dinner.
3. Cut the PDF Attachment
❌ Don’t: “See attached 37-page deck for context.”
✔️ Do: “Happy to share our deck if helpful—here’s a 1-pager overview in DocSend.”
👉 Attachments get you flagged. Links get you clicked.
4. Close Without the Desperation Vibes
❌ Don’t: “Would you be open to investing $5M in our fund?”
✔️ Do: “If this is relevant, I’d be grateful for a quick intro call.”
👉 Fundraising is dating. Don’t propose on the first text.
5. Bonus: Personalize, But Don’t Be Creepy
❌ Don’t: “Saw you at Equinox this morning crushing biceps curls.”
✔️ Do: “Noticed you’ve backed early healthcare funds—we’re tackling a similar space.”
👉 LinkedIn stalking is encouraged. Gym stalking is not.
TL;DR – The Frank Formula for LP Outreach
Subject line = human, not hype
First line = what you’re about, not who you are
Attachments = 🚩
Close = ask for time, not money
Personalization = contextual, not creepy
And as a bonus - here’s 3 cold outreach templates to get you started:
Subject: Intro: Fintech Fund I – Exploring fit with [Firm Name]
Hi [First Name],
I’m [Your Name], GP at [Fund Name], a first-time fund focused on Search Funds. We’re raising Fund I ($50M target) and are currently in early conversations with LPs who’ve backed emerging managers.
If this is relevant, I’d be grateful for a quick intro call (15–20 mins) to share more. Happy to send a one-pager in advance.
Thanks for considering,
[Your Name]
Subject: Intro request – [Fund Name] x [Firm Name]
Hi [First Name],
We’re building [Fund Name], an early-stage fintech fund. Our thesis is around [specific angle, e.g. “payments infrastructure for SMBs”].
We’re just beginning Fund I conversations and would value your perspective on the space. If you’re open, could we set up a short call?
Best,
[Your Name]
Subject: [Fund Name] – fintech focus, early Fund I conversations
Hi [First Name],
I know you’ve backed emerging Ed tech funds in the past (saw your investments in [example]). We’re building a Fund I with a similar focus.
Would you be open to a 15-minute call to see if it’s relevant? If not, I’d still value your perspective on where LPs see opportunity in this space.
Thanks,
[Your Name]
Frank Take:
Cold emails are like fishing. Wrong bait = no bites. Wrong subject line = you just chummed the waters with your reputation.
Till next time,
- Fund1Frank
May your subject lines be strong and your spam scores low.
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