> If you already had traction, you wouldn't need to kiss the ring
They’re telling you you’re pitching at the wrong stage. Growth and early stage doesn’t invest before traction; that’s the purview of angels and possibly seed investors.
Nah, they're just politely saying no. Lots of (pre) seed investors, who supposedly actually really invest before tangible proof, don't actually do this. Their MO is to hope to talk to early stage founders who are doing amazing before said founder realize that they can raise at way better terms.
It's the "win by doing lots of cold sales" model, but for VCs: if you talk to enough founders eventually a startup that does way too good for your seed/preseed ticket size will actually accept your terms and give you 25% of their company for next to nothing.
They’re telling you you’re pitching at the wrong stage. Growth and early stage doesn’t invest before traction; that’s the purview of angels and possibly seed investors.