Founders

VCs typically won't tell you when most of their fund is already deployed.

Why does it matter?

Because it means they're less likely to invest in you.

At your intro meeting, you can ask if they're actively investing, but the truth is, you might not get a straight answer.

A better question to ask might be:

"What's your vintage year?"

If it's three years ago or more, they've probably tapped out most of their money, and their investment period is nearing its end.

On the flip side, I get why VCs keep a full pipeline—so they can hit the ground running when they raise a new fund.

That’s why I appreciate what Kirby at Ascend Ventures did.

He was straightforward about the low likelihood of investing but still offered genuine feedback (a rare find) and introductions to other relevant VCs.

I love this approach—it's a win-win for both sides.