WomenINvestEU at Slush 2025: Insights on turning early conversations with investors into real commitments

At Slush 2025, in Helsinki, WomenINvestEU took part in the Women’s Power Pavilion, a collaborative space in which seven European initiatives joined forces to champion gender diversity in innovation. Among the Pavilion’s most engaging sessions was the fireside chat hosted by WomenINvestEU on “Investor Chemistry: Turning First Encounters into Real Commitments”, on 19 November.

The discussion brought together two prominent voices in Venture Capital (VC), Daphné Dupont Gurs, Partner at Ring Capital, and Rubina Singh, Senior Investment Manager at Foresight Group, to explore how early interactions between founders and investors can lay the groundwork for long-term collaboration. They shared practical insights and real experiences that showed how both founders and investors can approach building relationships in a thoughtful, constructive way.

Why early conversations and trust matter most

The investors emphasized that early-stage fundraising is not just about numbers or term sheets. It’s about building authentic, long-term relationships.

Daphné Dupont Gurs shared a compelling example from her experience at Ring Capital. She met two founders of a digital health company very early in its journey, when the business was not yet investable for her fund. Instead of walking away, she introduced them to another investor who later became their Seed backer. Over the next years, she stayed in touch, meeting for lunch every few months. When the company raised its Series A, Daphné was among the first investors they approached, which ultimately led to an investment. Her takeaway is this: trust builds over time, so start early and pay it forward first by helping people before they help you.

Rubina Singh echoed that founders who treat investor relationships as partnerships - not just transactions - stand out. She shared a story about how a founder’s honesty about their challenges as well as their speed at providing her with feedback helped to build conviction quickly. Their positive exchanges early on also gave her assurance about their ability to work together on the long run. 

Both investors agreed that founders should regard these early interactions as opportunities to demonstrate openness, resilience, and a willingness to collaborate beyond the immediate deal.

What if you don’t have existing investor contacts to even begin these conversations with? The advice was practical: start by attending industry events and come prepared with a concise pitch. You should also leverage any relevant connections you already have for warm introductions, whether to fellow founders, investors or ecosystem builders, and focus on building genuine relationships rather than rushing into transactional conversations. Indeed, both investors shared stories where they had informal interactions with founders about topics unrelated to business, which later led to meaningful engagement and eventual funding or introductions.

What makes founders memorable to investors

When asked what signals make a founder memorable, both speakers stressed that personal chemistry matters, but it’s not enough. Rubina highlighted that investors see thousands of companies each year, so the ones they connect with personally often do get assessed first. However, she added that the best founders go beyond this. They should be able to articulate the problem clearly, show deep market understanding, and apply any learnings to improve their product and approach. They should also treat the relationship as a two-way street, keeping investors updated and building trust through transparency.

Daphné agreed, noting that she looks for founders who can prioritize effectively, listen to advice coming from multiple people, and attract smart, skilled people. If the chemistry isn’t there, but the founder is exceptional, intelligent and has a compelling vision, that can outweigh everything. The investors also highlighted resilience as a key trait, particularly having the ability to maintain composure under pressure and to pivot quickly when challenges arise.

In terms of red flags, overselling, inconsistencies in data, or ghosting investors are examples the investors mentioned that can quickly erode trust. Though startups are often warned about pitching too early, both investors noted that this is not necessarily a deal-breaker. Founders who receive feedback from investors that they are “too early” can still try to build a relationship with that investor by maintaining contact, sharing progress updates, and even asking for introductions. In fact, both investors stressed that early conversations, even when a company is not yet investment-ready, can be valuable for shaping future opportunities.

Why founders shouldn’t fear investor conversations

As the session closed, the advice for founders was clear and empowering. Rubina emphasized that “Startups should not be intimidated. Investors need you as much as you need us.” Daphné added that investors themselves are often fundraising and pitching to limited partners (LPs), reminding founders that both sides share similar pressures and ambitions. 

Ultimately, the message was one of mutual respect, collaboration and a reminder that startup–investor relationships are, above all, human-to-human connections.

More about WomenINvestEU’s presence at Slush 2025

WomenINvestEU shared the Women’s Power Pavillion with European Parliament Pilot Project on Gender Gap in Investments,  HER FUND Project, SCALE'HER project, Women TechEU, European Female Founders, Green Transition Forum and EIT Community Supernovas.

In collaboration with the Green Transition Forum, the team also delivered a second fireside chat. “Green Transition Spotlight: Investing Where Impact Grows” joined Rubina Singh and Jade Abir Bouledjouidja, Founder & CEO at Renasens, to discuss the fundraising journey for startups in the greentech space and the need to balance profitability and purpose.

Run by a not-for-profit organization, Slush is a yearly startup event organized in Helsinki, Finland. The 2025 edition gathered around 13 thousand participants from over 90 countries.