Investor Update Template

Alex Dam

In this resource, we give you a no frills template of a standard investor update. If you’re a founder (or even investor) that wants to utilise this then click down below to get our Hillfarrance version:

Frequently asked questions (FAQ)

Founders can get more out of their investors and also attract new ones through regular investor updates. Here are some of the top questions we are asked regarding investor updates:

Who is an investor update for?

  1. Your existing investors. Everyone on your cap table, not just the ones on your board.
  2. Any investors that you want on your cap table or your board.

How long and detailed does an investor update need to be?

An investor update should give the reader a clear and concise depiction of the current state of your business. It should not be too long, nor too short. Perhaps a paragraph or bullet points for each section. Simplicity is key when sending this out.

How often should I send one out?

Usually, these are sent out on a monthly basis, however, you can get away with bi-monthly if you are later stage and have a longer runway. If you are lower runways (under 12 months), we suggest monthly or even fortnightly (be sure to get feedback from investors first otherwise it could be spammy).

It is important to note that these updates should not take you a lot of time to do, nor take you away from the business that you are building. It is merely an update to keep investors up to date.

How should I send out an investor update?

There are a few options to consider when sending out investor updates:

  • Directly through email in the message: Probably the most direct, no-frills way to send updates to investors
  • Direct to email using email marketing software such as MailChimp, SendGrid, Visible.VC and others: The update looks much better aesthetically, but can sometimes end up in different email folders or spam.
  • Via a link/URL: This may be if you create and publish all of your updates on your website, Notion or another place.

What do I need to be mindful of when sending out investor updates?

Firstly, you should assume that everyone knows about your business even without investors sharing. Organisations do mystery shopping all the time so assume this is public knowledge. That being said, if you are significantly better than your closest competitors then this doesn’t really matter. If you are sensitive to the revenue and runway portion of your business then that is ok. Just know that you have a fiduciary responsibility to your investors. Plus, you should trust your investors not to share this information around (you’d hope).

What are the benefits of sending investor updates?

  • Investors love transparency and you owe it to them. Good faith.
  • Additional support from investors that extends just capital (e.g. hiring leads, sales leads, advice, etc)
  • Support when things are not going so well. Empathy.
  • Subsequent investor leads

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