A good business is a currency of exchange with VCs. Asking for intros to talk with other founders or investors is common in the startup world.

However, getting an intro with investors can be harder. Why?

It used to be more relaxed to make intros between founders and investors. Something that happened to me fairly often was being asked if I could refer someone to Platanus Ventures, even when I didn’t really know the founders well.

I used to think it was ridiculous that you had to jump through hoops just to get feedback and build a relationship with a potential investor. Back then, I felt it was a way of helping. But over time, I changed my mind and I don’t do it as often anymore.

This phrase sums up why:

A good business is a currency of exchange with VCs (and yes, I feel it’s a bit ridiculous that I’m the one saying it, but here we are). What does that mean?

The main activities of a VC are:

  • Meet as many founders as possible.
  • Invest in the best bets.
    That’s it.

Of course, it’s not easy. In fact, most VC funds aren’t profitable. And that’s because, being honest, most businesses out there end up failing—not because founders are bad, but simply because statistically that’s how the game works.

This is why VCs tend to prioritize founders who are referred by someone already in their portfolio. Because that referral is coming from someone they already trusted enough to invest in.

So, what happens if you start referring just anyone? Chances are, you’ll waste the other person’s time (founder or VC), and that makes your word worth less.

It’s not the end of the world, but if you keep referring just anyone and saying “they’re great,” you won’t be taken as seriously—nor will the person you’re referring.

On the other hand, if you refer strong founders, it also builds a better perception of you, and you’ll benefit from that in return.

So, should you never intro your friends or acquaintances? No. But I think that if you don’t genuinely feel that the other person is at a good stage or is really strong, it’s better to just tell them directly—and explain why not.

This isn’t about being a “gatekeeper,” but rather about helping both sides truly benefit from the conversation. That way, I guarantee both will end up happier.