"Unlike Other Firms, We..." - The Three-Word Test That Exposes Weak Fund Marketing

We're back and start a new cohort of fund managers in the second half of 2026!

This blog post examines why most fundraising failure is self-inflicted, and offers some practical fixes that separate funded managers from forgotten ones.

In a market with more GPs chasing less LP capital, capital flows to the manager who is the clearest, the most genuinely differentiated, and the easiest to invest in. Most fundraising failure is self-inflicted.
 

Here are a couple of suggestions every manager should act on - organized by the three phases where you can "spectacularly mess things up": before, during, and after the pitch.

Before You Pitch: Do You Actually Know How LPs See You?

Most managers guess. The smart ones run a perception study across four LP segments:

1. Long-term backers - they know your strengths and weaknesses across the cycle 

2. Newest committers - the gold mine. What actually triggered their commitment? These trigger points tell you what overcomes LP inertia 

3. Lost LPs - the ones who left or scaled back. They pinpoint exactly what you need to fix 

4. Live prospects - what specific obstacles are stopping them from advancing? 

For PE firms it will also make sense to interview your own portfolio companies. Management teams will tell you where you genuinely added value - often in very different words than your managing partner's version.

The Three-Word Differentiation Test

Marketing specialist Matt Craig-Greene suggests the following exercise: Take your positioning statement and put "Unlike other firms, we..." in front of it. Say it out loud.

"Unlike other firms, we partner with exceptional management teams to build lasting value."

Feel silly? That's the point. If the sentence doesn't survive those three words, you don't have differentiation - you have filler.

Where do you find real differentiation? Usually in your origination story. You left a successful career to start or join your firm. 

Something gave you that conviction. That kernel is usually what makes you genuinely distinctive. Lean into it.

While You're Pitching: You Are the Pitch, Not the Deck

More wisdom from Matt Craig-Greene:

If you pitch as a team, then introduce each other, not yourselves. You can be far more positive about your partner than about yourself - and it lands as independent endorsement.

Probe before you pitch. Ask about the LP's challenges first, then keep the space open. A simple "mm-hm, go on" can draw out the real story. Your fund should feel like the solution to a problem they didn't plan to share.

Pre-assign topics. Never talk over your partner, and never correct them in front of the LP. Instead, review the pitch experience with your team after the pitch privately.

Avoid self-sabotage signals. One manager insisted on printing "Version 176.4" on his deck cover - proof of diligence in his mind, proof he can't make decisions in the LP's mind. Another produced a 45-slide deck with 12 slides of disclaimers. No LP reads that and feels reassured about due diligence.

Before and After: Two Underused Weapons

1. Use videos. That's what I've been preaching to managers since 2009.
 

Have the principals explain why they started the firm, the vision, the process, the opportunity, and what's next. Host it where you can track viewing. A completed watch is a strong early intent signal - and personality travels through video in a way no PDF can.
 

Here is a hack that gives you not only proven templates for videos but direct exposure to 30,000 investors: https://www.fundmanager.tools/7-ideas-to-transform-your-asset-04

2. Build an independent referencing pack. Roughly 15 pre-completed references. Also think of including not-so-glowing feedback. It accelerates diligence dramatically and signals you'll be easy to deal with.

The Bottom Line

In today's environment, being the fund that's easiest to invest in will often push you up the list. Build momentum first (make your proposition attractive and urgent), then strip out friction (make diligence and commitment simple).

And understand the asymmetry of "no": design your process to force clear decisions rather than letting LP conversations drift into an ever-growing graveyard of maybes.

Want to know how your pitch deck holds up against these standards? A professional pitch deck review is one of the fastest, cheapest fixes in fund marketing: www.fundmanager.tools/pitchdeckreview