Brett Brohl’s Bread and Butter Fundraising Approach: Lessons for Startup Founders

Daniel Olmedo Nieto | Co-Founder @ EasyVC | Forbes 30 Under 30 Europe
Raising money as a startup founder can feel overwhelming. There’s pressure to impress, tons of advice flying around, and the stories you hear often highlight huge checks from superstar investors. But, the reality for most early-stage founders is different—and that’s where Brett Brohl’s “bread and butter” fundraising approach stands out. Brett, managing partner at Bread & Butter Ventures, believes success isn’t about chasing flashy names or one-off wins, but about building solid, strategic relationships with investors who actually understand and support your business. In fact, studies show that over 60% of seed-stage investments in the U.S. come from less prominent, specialized funds—founders who look beyond the hype often fare better in the long run. Understanding how to find your ‘bread and butter’ investors can make fundraising less daunting and more effective. In this post, we’ll explore practical lessons from Brett Brohl’s approach that every founder can apply.

Who is Brett Brohl and What is Bread and Butter Fundraising?

Background on Brett Brohl and Bread & Butter Ventures

Brett Brohl is a seasoned entrepreneur, investor, and the Managing Director of Bread & Butter Ventures, a Minneapolis-based venture capital firm specializing in early-stage investments. With a track record of founding, leading, and successfully exiting startups, Brett has become a trusted advisor and mentor within the startup ecosystem. Bread & Butter Ventures is known for supporting high-potential founders in sectors like food tech, health tech, and enterprise SaaS, playing an active role in nurturing innovative companies from the ground up.

Defining the ‘Bread and Butter’ Fundraising Strategy

The “bread and butter” fundraising approach emphasizes a practical, relationship-driven method for raising capital. Rather than chasing high-profile investors or focusing solely on big Silicon Valley names, Brett advocates building a solid foundation of supportive, value-adding investors—your “bread and butter”—who understand your industry and are committed to your long-term growth. This strategy prioritizes alignment, strategic fit, and ongoing partnership with investors who are genuinely interested in a startup’s success.

Understanding Brett Brohl’s principles and the logic behind the bread and butter approach lays the groundwork for founders wanting to maximize their chances of fundraising success. Next, we’ll dive deeper into the core philosophies that make this strategy both effective and accessible for founders at any stage.

Key Principles of Bread and Butter Fundraising

Finding Early Investors That Fit

A cornerstone of Brett Brohl’s fundraising philosophy is the importance of aligning with investors who are genuinely a strong fit for your business in its early stages. Rather than chasing big names for the sake of prestige, successful founders identify those who not only have the right investment thesis but who also understand and appreciate the nuances of their sector, market, and stage. These investors become true partners, bringing targeted advice and introductions that matter for growth.

Tailoring Your Pitch to Match Investor Interests

Another essential principle is the customization of your fundraising pitch. Brett emphasizes that a one-size-fits-all pitch does not resonate with seasoned investors. Startup founders should invest time in understanding each potential backer’s portfolio, interests, and historical investments. By tailoring communications and presentations, founders demonstrate respect for the investor’s time and show a keen sense of strategic alignment.

Embodying these core principles lays a foundation for building relationships that foster trust and long-term value. Next, let’s explore how founders can systematically identify and reach out to those investors who will become their strongest advocates throughout the startup journey.

Building a Targeted Investor Pipeline

Research and Shortlisting Relevant Investors

One of the fundamentals of Brett Brohl’s approach is focusing on targeted outreach rather than casting a wide net. Instead of contacting every investor you find, start by thoroughly researching which investors actively fund companies in your industry, at your stage, and in your geography. Pay attention to their portfolio companies, stated investment theses, and recent deals. Online platforms like Crunchbase, PitchBook, or AngelList can be valuable resources in this process, but don’t overlook networking tools like LinkedIn or your founder community.

As you narrow down your list, create a spreadsheet or a CRM to track key details about each investor—their focus areas, typical check sizes, recent investments, and any mutual connections you might leverage for warm introductions. This focused approach saves time and significantly increases the chances of a positive response, because your outreach feels personalized and relevant.

Reaching Out and Building Relationships

Once you’ve shortlisted investors who truly fit your business, it’s time to initiate contact. Whenever possible, pursue warm introductions via shared connections or founder peers. If you must go the cold outreach route, craft concise, compelling messages that clearly highlight why you’re a good fit for the investor specifically. Reference their past investments or published interests to demonstrate you’ve done your homework.

Keep in mind that successful fundraising is about relationship-building, not transactional pitches. Engage with investors on social media, comment thoughtfully on their blog posts, attend the same industry events, and send occasional updates even before you’re ready to raise. Over time, you’ll cultivate genuine relationships with investors who are more likely to back your company when the timing is right.

With a robust, targeted investor pipeline in place, you’ll find yourself far better positioned to showcase your startup in the best light. Next, let’s explore how Brett Brohl recommends structuring your pitch deck to maximize your chances when you finally get in front of these ideal investors.

Pitch Deck Tips from Brett Brohl

Essential Slides and Content

Brett Brohl emphasizes that every pitch deck should communicate a clear story concisely and visually. Founders are advised to include the essentials: an engaging problem statement, your unique solution, market opportunity, business model, traction to date, go-to-market strategy, team, and a clear ask. Each slide should have a singular purpose—avoid overwhelming content or crowded visuals. Data should reinforce your narrative, not dominate it. Remember, your goal is to spark interest and conversation, not to answer every possible question at once.

Do’s and Don’ts When Presenting

According to Brohl, the delivery of your pitch is just as important as its content. Do practice your presentation until you can deliver it confidently and succinctly, ensuring your passion and understanding shine through. Always keep the discussion focused on your company’s strengths, and be open about your challenges without making excuses. Don’t read from your slides verbatim or go deep into technical explanations that aren’t relevant to the investor’s perspective. Visual storytelling and a conversational tone resonate more with investors than jargon-heavy monologues.

By applying these tips from Brett Brohl, founders set themselves up to make a memorable impression and lay the groundwork for productive investor relationships. Up next, let’s explore common missteps founders encounter and how to sidestep them for a smoother fundraising journey.

Common Mistakes and How to Avoid Them

Overvaluing ‘Big Name’ Investors

One of the most frequent errors startup founders make, according to Brett Brohl, is focusing too heavily on chasing “big name” investors. While landing a well-known VC can create buzz, it often distracts from building the foundational relationships that truly sustain startups in their early days. High-profile investors typically have stringent requirements and may not be the best match for every stage or sector. Instead, founders should evaluate investors for their ability to offer strategic guidance, mentorship, and sector expertise—qualities that are often more readily available from smaller, less flashy backers.

Neglecting the ‘Bread and Butter’ Supporters

Another common pitfall is overlooking “bread and butter” supporters—those smaller, more approachable angel investors and niche VCs who are essential for getting early traction. These investors are often deeply engaged, willing to provide introductions, feedback, and hands-on support. By neglecting to build and nurture these foundational relationships, founders risk gaps in their fundraising round and miss out on crucial advocates for their startup’s growth. Foster transparency, frequent updates, and two-way communication to ensure these allies remain invested—both financially and emotionally.

By learning from these mistakes and steering clear of them, founders can cultivate a more reliable and supportive investor base. Up next, we’ll explore actionable strategies to craft an outreach and follow-up process that turns these hard-won relationships into lasting partnerships for your startup’s journey.

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