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Nikunj began the August 2026 fundraising season with 9 warm intros in one week…

2026-08-06 · 15:08 UTC ·@nikunj ·3 min read

Brief

Nikunj (2026-08-06) lays out tactical, candid advice for founders entering the August fundraising window after receiving nine intros in a single week. He emphasizes that the specific person at a VC firm matters: associates/principals can add value only if their recent track record gives them internal leverage, otherwise push to reach a GP with real authority via a warm intro from an angel or a founder they already back. On asks, founders should avoid extremes — VCs expect plausible sizing and typically won’t lead for <~10% dilution from a credible lead — and should never lean on competitor valuations as comps. Honesty is critical because term sheets and decks circulate fast in the tight NY/SV networks. Finally, be authentic, show where you need help, and if you’re outside hot sectors, make a clear contrarian/default-alive case.

Why it matters

Nikunj began the August 2026 fundraising season with 9 warm intros in one week and stresses that who you get an intro to at a VC firm matters — associates and principals can be valuable only if you verify their recent deals and standing, otherwise they may have limited leverage.

Key details

  • Target GPs (capital-P partners) who have real decision authority; get a warm intro ideally from an angel or a founder the partner has already backed, because partners will prioritize those intros and are less likely to pass you to an associate.
  • On sizing and dilution: VCs tend not to lead if your round implies under ~10% dilution from an established, good lead fund (set that as a practical floor); don’t ask for too much or too little without a credible plan, and never anchor by comparing to a competitor’s valuation.
  • Do not lie — the Silicon Valley and New York ecosystems are small, term sheets are quickly verifiable and decks leak; be authentic, surface the help you need, and if you’re outside hot sectors (market highly consensus in 2026) explain why you’re a strong contrarian bet and your ‘default alive’ path.
Source evidence

Alright August fundraising season is here (got 9 intros this week) so here’s a brain dump of tips that no VC will tell you..

> who you talk to and get to an intro at a VC firm really matters. associates and principals ARE really great. i genuinely mean it BUT you have to see what they have backed recently to understand what kind of leverage they have. what’s their standing in the firm. new, worked on a few great recent deals and understand your space, talk to them. if not, they might be on the way out. always get a warm intro to them as well. understand quickly if the fund will actually be interested vs. lip service. also know once you are assigned to someone in the CRM, you’re stuck with that person. wars have been fought on deal attribution (you think I’m joking but no)

> you got to talk to the GP or capital P partners (these are folks who have actual authority and not just the title, caveat below). and you could cold email, but try to get a warm intro. angels are great for this. ideally from a founder they have already backed. they’ll run on a plane to talk to you with that intro. all schedules vanish and you don’t get passed to an associate (usually).

> on the raise, now here’s where it gets tricky. ask for too much, then they look at you skeptically unless you’re Elon. ask for too little and then you’re not ambitious enough. ask for too little dilution it’s not worth it, ask for too much it’s too good of a deal. and this is the number one thing founders don’t understand: VCs don’t want a “deal”. Like if the price is too good it begets even more questions like why is the price not high. It’s weird but it’s true. there’s no science here.. but be prepared to come up with a resemblance of a plan on why you’re raising that much.

> ok on numbers, no established good lead VC fund will do under 10% dilution. so don’t even ask? obviously there are exceptions and if you have insane leverage go for it. but generally the floor is set since someone is showing how this returns the fund. on valuation, never compare on what your competitor got. it’s the single best way to tank the deal. you have no idea how that deal got done but it’s good to have as a comp.

> don’t lie. the valley and NY especially is insanely small. if you tell them you have a term sheet from someone, it’s literally a text away. it’s a co-opetition so everyone talks to everyone. this is why all decks leak and news spreads like wildfire. and this is why don’t share anything you don’t want to be shared. even if it’s not shared by an upstanding VC, another one will.

> vibes are really important. be you? showcase what you’re excited by and highlight where you need help (we thrive on helping). you can play the silly game of trying to neg and act like someone you’re not - but trust me it works far less then you can think. hype can buy you eyeballs and attention but it’s not the end all be all.

> finally, this is the most consensus market I’ve seen in a while. so if you’re not in a hot sector, strap in. share what makes you a great contrarian bet. everyone is looking to balance their portfolio so you never know where you find champions even if you strike out of the top 100. goes without saying figure out the default alive path.

Good luck to all - and obligatory if you’re raising a seed or series A round - I’d love to meet IRL!