Transcend Fund III — LP Fundraising Pipeline Templates

Hi [Name],

[PERSONALIZE: 1 sentence connecting to LP — e.g., "We share several co-investors with your portfolio including Lightspeed and Krafton" or "I noticed [Fund] has been active in digital media — thought there might be natural overlap" or "[Mutual contact] mentioned you're looking at gaming exposure"]

I'm [Your Name], [title] at Transcend. We back AI-native game studios at Pre-Seed through Series A. Gaming is a $250B+ industry at a once-in-a-decade inflection: incumbents structurally can't adopt AI (unions, legacy pipelines, internal resistance). AI-native studios achieve 4-5x productivity and 40-50% margins. We fund the founders capturing that expansion.

Our team shipped 60+ games before becoming VCs, with 70+ years of operator experience (Kabam, EA, FunPlus, GREE) and 16 exits as operators and investors. Worth a 15-minute call?

Best,
[Your Name]

Hi [Name],

Following up with a proof point: [NEWS HOOK — pick one: "We just closed our first Fund III investment into Velocity, an AI-native ad platform built by the ironSource team behind a $10B IPO" / "Brain Jar Games just hit top-5 on Steam globally" / "We'll be at [GDC/conference] next month — worth connecting in person" / other recent milestone].

Can I send a one-pager?

Best,
[Your Name]

Hi [Name],

[WARM CONTEXT — MANDATORY. Pick the right opener: "[Referrer] suggested I reach out — [he/she] thought there'd be natural overlap given your work in [area]" / "Great meeting you at [event] — enjoyed the conversation about [specific topic discussed]" / "Thanks for taking [Referrer]'s intro — [he/she] mentioned [specific reason for connection]"]

Attached is a one-pager on Transcend Fund III. We back AI-native gaming studios at Pre-Seed through Series A. Our team shipped 60+ games across Kabam, EA, FunPlus, and GREE with 16 exits as operators and investors. We became VCs because we saw the AI inflection coming from the operator seat.

[LP-SPECIFIC HOOK — optional: "Given [Fund]'s focus on [digital media / consumer tech / Asia], there's natural overlap with our pipeline" or "I noticed [Fund] backed [gaming/media company] — we see a lot of similar dynamics"]

Worth 20 minutes? How does [specific timeframe] look?

Best,
[Your Name]

Hi [Name],

[CALLBACK: 1 sentence referencing what sparked their interest — e.g., "You mentioned [Fund]'s interest in gaming exposure at the right entry point" / "Glad the AI-native thesis resonated"]

Fund III is $100M targeting AI-native gaming studios at Pre-Seed through Series A. AI-native studios hit 4-5x productivity with 40-50% margins that incumbents structurally can't match. I'll send the deck ahead of our call. How does [specific timeframe] work for 20 minutes?

Best,
[Your Name]

Hi [Name],

Sending along the Intro Deck. [CONTEXT BRIDGE: connect to prior conversation — e.g., "As we discussed, this covers the AI-native thesis in more detail" or "This should address the questions you raised about [portfolio construction / track record / team]"]

A few highlights:

• Fund I: top quartile, 2020 vintage (2.0x net TVPI, 18% net IRR, 0.2x DPI), two 10x+ markups including a NASDAQ-listed unicorn
• 37% seed graduation rate, 2.4x the Carta all-sector benchmark, ~13x the gaming-sector rate. During the worst fundraising market in a decade.
• 82% lead win rate on Fund II term sheets. Operators win deals generalists can't access.
• Strategic LPs include Krafton, Bandai Namco, and Shochiku, major gaming acquirers aligned with portfolio exit paths

[LP-TAILORED POINT — "Given [Fund]'s interest in [Asia exposure / content / AI], worth flagging [relevant portfolio highlight or strategic LP connection]"]

Happy to set up time to walk through it. How does [specific timeframe] look?

Best,
[Your Name]

Hi [Name],

Please find the Transcend Fund III pitch deck here.

This deck covers strategy, portfolio construction, team, and prior fund performance. Fund I ranks in the top quartile of 2020 vintage VC funds — intended to support a deeper diligence process.

We'd be happy to schedule time with the team to walk through the materials. Please let us know a few windows that work.

Investor Relations
ir@transcend.fund

Hi [Name],

Thanks again for the conversation. [SPECIFIC CALLBACK — MANDATORY. Reference something concrete: "Your question about how we think about AI-native vs. AI-adjacent was a good one — the short answer is [brief response]" or "Interesting point about [topic they raised] — I've been thinking about it since" or "As promised, attached is the [AI research report / case study / portfolio detail] we discussed"]

[UPDATES SINCE MEETING — if any: "A couple of things have developed since we spoke: [new investment, portfolio milestone, data room addition]"]

Next step is [data room access / follow-up call with [specific team member, e.g., "Brett on the Asia pipeline" or "Sikander on deal flow analytics"] / additional materials on [topic]]. We run diligence on a defined timeline to keep allocation planning tight. What does your IC calendar look like?

Best,
[Your Name]

a16z is in our portfolio (Live Aware Labs). So are Founders Fund (Bunch), Accel (Kratos), Menlo (Brain Jar), and Bitkraft (Ruckus). The pattern: founders choose an operator-specialist to lead their Seed, then bring in larger funds at Series A once product risk is reduced. We secure the lead seat; they write the growth check.

Operator credibility: Before becoming VCs, our GPs collectively built and shipped over 60 games. At Kabam, Andrew scaled the company from $2M to $400M in revenue through a $1B+ exit. Shanti produced FIFA and The Sims at EA, then led corporate development at multi-billion-dollar publishers. Brett was CIO at FunPlus and President of JP Morgan China. When a founder is choosing who sits on their board, they want someone who's actually built what they're building.

Fewer bets, deeper conviction: Fund III is $100M, targeting ~15 investments with ~60% in lead positions. When we lead, we take 10%+ ownership, sit on the board, and mobilize all of our resources. We lead 2x more frequently than peers, with an 82% win rate on lead term sheets (Fund II).

Results: Fund II seed graduation rate at 36% vs 15.4% all-sector (Carta) and 2.3% gaming-sector (Konvoy). Fund I: 2.0x net TVPI, 18% net IRR, top quartile 2020 vintage.

Hi [Name],

You now have access to the Fund III Data Room — pitch deck, financials, detailed track record, team materials, and our AI gaming thesis research.

A few notes:

• We ask that diligence be completed within ~30 days
• If you need materials you don't see, flag it early and we'll turn it around fast
• Any Transcend team member is available for follow-up calls — let me know who you'd like to speak with

Let's plan a check-in on [specific date] to close the loop on questions. Does that work?

Best,
[Your Name]

Hi [Name],

We're finalizing Fund III allocations [TIMING SIGNAL — pick one: "ahead of our next close on [date]" / "with several LPs completing diligence this month"] and want to make sure we're aligned on timing.

[MOMENTUM UPDATE — optional but effective: "Since we last spoke, [portfolio milestone — e.g., 'Brain Jar had a top-5 Steam demo globally' or 'we closed our investment in Velocity']"]

Where are you in your process? If you're ready to move forward, a proposed commitment amount and timeline would be helpful for our planning. If it's a pass, no hard feelings — feedback is always welcome.

Happy to jump on a call if that's easier.

Best,
[Your Name]

Hi [Name],

Great to hear you'd like to move forward. We've sent the subscription and onboarding documents for Transcend Fund III, reflecting a $[Amount] commitment.

You should now have access to the onboarding platform. Let me know if you have any questions or if it would be helpful to coordinate with your counsel.

Best,
[Your Name]

Hi [Name],

We're pleased to confirm your commitment has formally closed. Welcome to Transcend Fund III.

The initial capital call has been issued:

• Capital call date: [Call Date]
• Amount called: [X]% of your total commitment
• Due date: [Due Date]

Capital call notice and wiring instructions are in Fund Panel, which will serve as your central hub going forward. You should be receiving an invite shortly.

Thank you for your partnership. You'll be included in ongoing LP communications and investor updates — we'll share reporting cadence details soon.

Best,
[Your Name]

Hi [Name],

[PERSONAL ANCHOR — reference your last interaction: "When we spoke in [month], you mentioned [specific interest, concern, or question they raised]" or "Last time we connected, timing wasn't right because [reason they gave]"]

A few things have happened since:

• [NEWS — pick 1-2 that are genuinely impressive. Concrete examples: "Closed our first Fund III investment — Velocity, an AI-native ad platform built by the team behind ironSource's $10B IPO. NFX led, round was massively oversubscribed" / "Brain Jar Games had a top-5 global Steam demo — raised their Series A with Menlo Ventures" / "Published our AI gaming research synthesizing data from 1,105 tasks across the Anthropic Economic Index — full report is in the data room" / "We'll be at GDC in March — 5 portfolio companies presenting" / "Combined seed graduation rate is 2.4x the all-sector benchmark (37% vs Carta 15.4%) — happy to share the methodology"]

[BRIDGE TO ACTION — tie news back to their interest: "Given your focus on [area], thought this might be relevant" or "This addresses the [concern/question] you raised last time"]

We're actively deploying Fund III. Worth reconnecting?

Best,
[Your Name]

Hi [Name],

Appreciate the transparency and the opportunity to connect. We'll stay mindful of the feedback you shared.

Wishing you all the best — hope our paths cross again.

Best,
[Your Name]

Hi [Name],

Appreciate the update and the interest. We'll reach back out for the next fund, and happy to send periodic updates in the meantime.

Best,
[Your Name]

Hi [Name],

Appreciate the update and the interest. We'll reconnect after the current close.

Best,
[Your Name]

Hi [Name],

We're selecting one placement partner for Fund III ($100M target). We're speaking with a small group this week.

The short version: early-stage gaming VC, AI-native thesis. Team shipped 60+ games before becoming VCs with 70+ years operator experience. Strategic LPs include major gaming acquirers. Given your work with [emerging managers in gaming and AI], worth a conversation.

Does [this week / next week] work for a brief call?

Thank you,
[Your Name]

Hi [First Name],

I'm writing from the UK in my capacity as a consultant to [Fund Name].

[LP Name] has expressed interest in learning more about the fund and asked to be introduced to the appropriate investor relations contact. I haven't shared any offering materials or investment details — only a general overview of the fund's focus area and team background.

With their consent, I'm making the introduction below so you can connect directly and guide next steps as appropriate:

LP Contact:

• Name: [Name]
• Title: [Title]
• Organisation: [Institution / Family Office]
• Email: [Email]
• Location: [City, Country]

[LP First Name] — copying you here so you have [IR Contact First Name]'s details. The [Firm Name] IR team is best placed to answer any questions and guide next steps.

For clarity, I won't be involved in any discussions around investment terms or the provision of offering documents, and I'll leave the conversation to continue directly between you.

Best regards,
[Your Name]
[Your Title], Consultant to [Fund Name]
[City], United Kingdom