When Investors Go Silent—What Does It Really Mean?

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March 19, 2025

by an member from Northwestern University in Chicago, IL, USA

You reach out. You follow up. And then... silence. No response. No clear "no," but also no forward momentum. Are they passing without saying it? Keeping us in limbo while they wait for better signals? Fellow founders—have you experienced this? Investors in the room—what’s really happening behind the scenes when responses dry up? Let’s break it down. Drop your thoughts below!
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Reply by an investor
from University of Illinois at Urbana in Chicago, IL, USA
Thanks ^redacted‌ for the tag. I agree with much of the above. Investors, if they do a lot of investing, are inundated with opportunities and are humans. If they don't like something, they will often have a hard time just saying no, or not a fit right now, and almost never tell you truly why "As a searcher with experience in IT services consulting, this healthcare distribution deal you found doesn't really seem to resonate with your background, and it looks to me like you're overpaying and I doubt you'll be able to get it closed..." No one likes to give that kind of feedback. So yes, it's likely a no. I could write a chapter on this topic, or maybe a mini series : ), but suffice it to say I would recommend (1) don't take it personally (2) keep going and (3) learn what you can. You could also try a different approach with a couple folks - perhaps "I've been struggling to get real feedback from investors here - would you be willing to take 30 mins to give me some high level feedback? Looking for constructive criticism and to learn..." You still may not get many, if any, responses, but if you do, you might learn something valuable which helps you move ahead.
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Reply by an investor
from University of Georgia in San Jose, CA, USA
^redacted‌ thanks for tagging me. I'm new to the ETA world, but based on my experience raising venture capital my short answer is similar to others here .... it's a no and you should move on.

Longer answer ... I always appreciated a clear and timely no from investors. It's respectful to me and earns my respect in them. Not everyone is going to do that. I never saw a multiple non-response turn into a decision to invest.

Now might I circle back with that investor during another raise (I.e. when my situation has materially changed)? I wouldn't rule it out just on that one interaction, but would consider the whole of the relationship. There may be many reasons why someone fails to respond in the moment. I know I've been guilty of being unresponsive at times .... as much as I hate to admit it!
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