When VCs let entrepreneurs know that they are not going to invite them in for a first meeting (after having reviewed their executive summary), they often provide little in the way of an explanation.  This is partially because they are busy and partially they want to avoid saying negative things about your idea.  VCs understand that entrepreneurs love their brainchild like a child.

Entrepreneurs that receive vague rejection emails should ask why.  The VC’s rationale for passing can be very useful to you for learning about how people perceive your business.  As mentioned in my previous post, Why You Might Not Get The Meeting, there are three high-level criteria that your company must meet in order to be invited in for a meeting.  Understanding which criteria your company did not meet is extremely valuable.  If the VCs thought it was a bad business idea, you may want to re-evaluate your idea.  If they passed because your company is not a good investment opportunity, you may need to look for alternative ways to finance your venture.  If the VC liked the company but felt it was misaligned with their investment strategy, you should refine the list of VCs that you are targeting.

When you ask for feedback remember to be polite.  If a VC continues to be provide vague responses, stop bothering them and move on.  Harassing a VC for feedback is not going to help you.  Annoying them will not compel them to provide insight and it could give you a bad reputation.

While it’s easier to avoid asking for feedback that is likely to be negative, entrepreneurs are better off asking.  Check your pride and try to learn from every step in the VC process – it will make you a better entrepreneur and increase your chances of finding and convincing the right VCs to invest.