40 Investor Calls, 5 Units Closed—Is This Normal or a Red Flag for Traditional Search Raise?

March 09, 2025
by an member from Northwestern University in Chicago, IL, USA
I am raising for a Traditional Search Fund. So far, I've had 40 calls and closed five units across four investors (5 units from a total of 16). Eight or nine have rejected me, and the rest have completely ghosted me. I know persistence is key, but is it normal to close just five units after 40 calls with different investors? Or should I reassess my approach and refine my pitch? And no, prospects are not giving feedback.
from Stanford University in Dallas, TX, USA
in United States