Introduction: Why VC Comms Matters More Than Ever

The days of VCs operating quietly behind the scenes (or getting away with sucking at comms or marketing) are fading fast. Despite the traditional image of venture firms silently deploying capital while their portfolio companies are the only ones to grab the spotlight (though we agree they should be the protagonists), today’s reality tells a different story. In our increasingly competitive landscape, venture firms need to build trust, attract top-tier founders, and carve out their unique position, all of which demands a thoughtful communications strategy and be the protagonists at least of their own story.

Yet many funds still treat communications as an afterthought. Some mistakenly believe their networks will forever deliver the best deals, while others coast on reputation alone. Others treat comms as a cookie cutter. A press release here and there, and that’s it. Well, here’s the problem: today’s founders have become incredibly selective, and the firms that capture their attention are those that actively shape their narrative.

To get a better understanding of what effective VC communications looks like in practice, the BUPR corns spoke with two experts who are navigating these challenges daily: Elisheva Marcus, VP of Communications at Earlybird, and Andra Bagdonaite, Partner at FIRSTPICK. Both play crucial roles in shaping how their respective funds are perceived by founders, LPs, and the broader startup ecosystem. And both are practitioners that are doing things differently than most VC funds when it comes to comms. Read their insights, they reveal why VC communications isn’t merely about visibility, but a genuine strategic advantage for those that dare to try it.

Elisheva (Earlybird): Shape Your Narrative or Others Will Do It For You

1. VCs Need a Narrative, Or Others Will Define It for Them

One of the most persistent myths in venture capital is that good deals simply materialise through existing networks. Elisheva sees this as outdated thinking. While introductions and reputation remain incredibly important, today’s founders are far more discerning about who gets to hear their pitch. Many thoroughly research potential investors long before the first meeting, scrutinising their online presence, investment history, and overall positioning. When a firm presents a weak digital footprint or inconsistent messaging, it doesn’t create an air of exclusivity, it breeds uncertainty.

“Communications isn’t just about being visible,” Elisheva emphasises. “It’s about actively shaping how people perceive you.” Too many VCs only think about PR when they urgently need something, typically during fundraising or a major investment announcement. In reality, communications should function as a long-term, strategic effort that continuously reinforces what the fund stands for.

Without crafting a clear narrative, a VC’s reputation will inevitably be defined by external forces, whether competitors, media outlets, or anonymous voices on social platforms. The most successful funds take ownership of their story, ensuring their investment philosophy, values, and areas of expertise are clearly understood throughout the ecosystem.

2. Thought Leadership is Only Valuable if It’s Unique

Far too many VCs fall into the trap of producing generic content about “believing in bold founders” or “backing the next wave of innovation.” But as Elisheva pointedly notes, “If your insights sound like they could come from any VC, they’re not actually insights.” Why you?

She encourages venture firms to focus on storytelling that delivers genuine value, whether breaking down industry trends, highlighting portfolio success stories, or offering practical guidance on navigating the startup journey. At Earlybird, she helps investment team members discover their authentic voice and share their sector-specific expertise rather than defaulting to broad, impersonal messaging.

Elisheva also observes that founders are hungry for authenticity and genuine expertise, not corporate jargon. Instead of generating noise merely for visibility, VCs should ask themselves: “Are we adding something meaningful to the conversation, or just echoing what everyone else is saying?”

3. A Comms Function in VC is a Competitive Advantage

Some funds continue treating communications as an ancillary function, assuming media relations, portfolio storytelling, and brand positioning can be handled sporadically. Elisheva strongly disagrees. She argues that having dedicated in-house communications expertise represents a significant strategic advantage, particularly in today’s competitive funding environment.

A communications expert within a VC firm does far more than basic media outreach. They craft and refine the firm’s narrative, position investment team members as thought leaders, and help portfolio companies navigate major announcements like funding news. They also build meaningful, long-term relationships with journalists, event organisers, and ecosystem players, ensuring the fund maintains a consistently strong brand presence.

At Earlybird, Elisheva plays both proactive and reactive roles. She works with the team to strategically plan content, thought leadership initiatives, and brand positioning while also navigating real-time industry trends and media cycles to keep Earlybird relevant in ongoing conversations. This balance between long-term narrative building and short-term responsiveness is what makes communications in VC so impactful.

For funds that haven’t invested in communications, Elisheva sees a missed opportunity. The VCs that truly stand out, especially in Europe’s crowded ecosystem, are those actively shaping their own story, consistently engaging with their audience, and providing value beyond capital. Those that don’t risk fading into invisibility.

Andra (FIRSTPICK): Marketing in VC is a Long Game

1. Building a VC Brand from Scratch is About Trust, Not Just Visibility

When FIRSTPICK first emerged they had no established brand to leverage. Andra explains that from day one, they recognised the need to actively build their identity to establish trust with both founders and LPs. Unlike larger, well-known funds, they couldn’t afford to be passive. They needed to make themselves visible and approachable, not just to attract startups but also to position themselves effectively within the competitive Baltic ecosystem.

For them, branding wasn’t merely about aesthetics, it was about setting the tone for founder relationships. While many VCs cultivate an aura of exclusivity and inaccessibility, FIRSTPICK deliberately took the opposite approach. They wanted to eliminate the power imbalance often felt in founder-VC interactions. This meant ensuring their public presence, whether on LinkedIn, at events, or in media, authentically reflected who they were as people: open, direct, and genuinely founder-friendly.

2. Marketing in VC is Harder to Measure, But That Doesn’t Mean It’s Not Working

Unlike B2C or SaaS businesses where marketing impact shows up immediately in sales and conversions, VC marketing plays out over a much longer timeframe with less obvious metrics. Andra acknowledges the challenge of tracking direct ROI from brand-building efforts. While they can measure social media engagement, inbound deal flow, and media mentions, the true impact often manifests in ways that can’t be easily tracked, like a founder seeing them speak at a conference and deciding to reach out months later.

This measurement challenge leads many VCs to ignore marketing altogether, assuming that if results aren’t immediately tangible, the effort isn’t worthwhile. Andra strongly disagrees with this perspective. She argues that brand recognition in venture capital compounds over time, influencing both the volume and quality of deals they encounter. It’s not just about increasing inbound applications, it’s about ensuring the right startups know and trust them when fundraising time arrives.

3. The Best Marketing Strategy? Be Authentic

Many VC firms invest in polished branding but struggle with authenticity. Andra believes the most effective marketing stems from alignment between a firm’s external messaging and its actual people. Some firms project bold, high-energy branding but in reality operate conservatively and move slowly when making investment decisions. This disconnect inevitably erodes trust.

At FIRSTPICK, their marketing isn’t focused on projecting a perfect image, it’s about ensuring their external voice genuinely reflects who they are. The same approachable, no-nonsense attitude they bring to meetings is the tone that infuses their content and social media. “There’s no performance,” Andra says. “What you see online is who we actually are.”

This level of transparency helps founders feel comfortable reaching out, which strengthens their deal flow. Instead of chasing after startups, FIRSTPICK has positioned itself as a firm that naturally attracts founders who align with their approach. In an industry where trust is paramount, that’s the most valuable outcome marketing can deliver.

Conclusion: VCs Who Master Comms Win the Best Deals

Both Elisheva and Andra share a fundamental belief: that VC communications isn’t merely about attracting attention, it’s about building trust, shaping perception, and ensuring that the right founders and LPs clearly understand what you stand for. And guess what, we would agree with that!

For venture capital firms today, taking control of their narrative is no longer optional. The most successful firms don’t wait until they desperately need PR, they invest in long-term storytelling, engage consistently, and ensure their brand authentically reflects their real-world actions.

The encouraging news? Effective communications doesn’t necessarily require the biggest budget or the loudest voice. It’s about being clear, authentic, and intentional in how you present your firm to the world. The VCs who get this right won’t just see more deals, they’ll see better deals. And those that ignore it? They risk becoming virtually invisible in an increasingly crowded marketplace.

More advice, tips and tricks from our podcast guests:

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