Post Written by Vasily Alekseenko

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The Summer Slump is Real
If you’ve tried raising venture capital in the middle of summer, you’ve likely felt the slowdown. It’s not just in your head – the data shows a clear seasonal dip. In Europe especially, August is a ghost town for VC activity: venture funding in August is often 30–40% lower than in June, and in a downturn year like 2022 it plunged by over 70% . “Late July or early August are particularly tricky for raising in Europe, as many VCs are on summer holidays,” one investor observed. The pattern isn’t limited to Europe – U.S. VCs also tend to go quiet from mid-July through August, making it hard to get partner meetings and decisions made. (In Europe, the summer lull is even more pronounced due to widespread vacations.) The result? Fewer deals get done in summer, and those that do often drag out longer than usual.

Why Investors Go Quiet in Summer
Many investors simply check out during summer. With key partners on holiday and kids out of school, it’s hard to get a full partnership meeting scheduled – so firms often postpone decisions until fall. Even those still around feel less urgency, figuring deals can wait. Trying to launch a raise after mid-July is almost futile. And without multiple investors engaged at once, you can’t create the competitive FOMO that drives fast term sheets – a slow, staggered summer process tends to kill momentum.

The Next Fundraising Window: September to November
The good news is that come September, the game changes. Investors return to their desks, refreshed and ready to deploy capital before the next slowdown. Early fall – roughly September to November – is a prime fundraising window. Many startups make their deals in Q4; December often ends up the busiest month because investors rush to close rounds before the holidays. Practically speaking, you have until about mid-December before the next slowdown. Plan to kick off your raise in early September and wrap it up by late November, because by mid-December the investor focus shifts to holiday mode again.

Use Summer to Prepare: Founder Action Plan

So what should a founder do during the summer lull? Make the off-season count. Use these months not to chase elusive checks, but to prepare so you can hit the ground running in September. (The ideal fundraising periods are roughly Jan–May and Sep–Nov, so think of June–Aug as your preseason training .) Here’s how to turn a quiet summer into a winning strategy:

• Refine your pitch and deck: Use the downtime to polish your pitch materials and narrative. Make sure your deck answers all key questions a VC will ask, and fix any weak spots now so your fall story is bulletproof.

• Organize your financials & data: Update your financial model and projections, and get your data room in order (cap table, metrics, legal docs, etc.). Being due-diligence ready means you can move fast when VCs bite.

• Boost your traction: Spend the summer growing your business – push product updates, sign new customers, increase revenue. The more progress you make now, the stronger your story will be in the fall.

• Research target investors: Make a list of VCs and angels who invest in your stage/sector (especially those active in Europe/UK). Do your homework on each, and line up warm introductions if possible. By September you should know exactly who you’re approaching and why.

• Plan your process now: Map out your fundraising timeline now. Decide how much you need and prepare to run a tight process (e.g. concentrate meetings within a few weeks in September/October and aim to secure a term sheet by late October). A rapid, well-organized fundraising sprint can create competitive pressure and FOMO among investors.Pre-warm some investors: If any investors are around, grab coffee or have casual intro calls (without a pitch). Building a bit of rapport now means you’ll have warm contacts to hit up in the fall, rather than 100% cold emails.

Conclusion

Summer might feel like a frustrating dead zone for fundraising, but it doesn’t have to be wasted time. Think of it as prep time. Investors may be off the radar in July and August, but they’ll be back in September looking to make deals. If you use the summer to tighten your deck, grow your metrics, and pinpoint your targets, you’ll be ready to sprint through the fall funding window. Don’t view the summer slowdown as a setback – see it as your chance to build an edge. Do the work while others relax, and you’ll hit September in full stride, ready to close your round before the next holiday lull.