The LP outreach problem for emerging managers
Raising a first or second fund is a different challenge from raising a startup round. You're not pitching to 20 VCs — you're building a whole LP base. A typical first close requires reaching 200–500 qualified LP contacts. With a 1–5% conversion rate on cold outreach, top-of-funnel volume matters.
The problem: LP contact data is fragmented, expensive, and hard to find.
- Family offices rarely publish contact details — most have no website
- Endowments and pensions have public names but no direct contact emails
- Placement agents are effective but cost 1–3% of capital raised
- Building your own LP list from scratch takes months of manual research
The math: A placement agent on a $10M first close charges $100,000–$300,000. Altura Data's LP database costs $297 one-time. For early LP outreach, direct prospecting, and building your contact universe before engaging a placement agent — the ROI is clear.
The placement agent comparison
Altura Data isn't a replacement for a placement agent's relationships, reputation, and deal-closing capabilities — but for emerging managers who want to run their own early LP outreach, build a contact universe, or test the market before committing to an agent, it's the most cost-effective starting point available.
What's in the LP database
Every contact includes the fields fund managers actually need to qualify and prioritise LP outreach:
How to use it for first-close outreach
Step 1: Filter for LP appetite. Start with family offices (SFOs and MFOs) — they are statistically more likely to back emerging managers than institutional LPs. Filter by AUM range to match your target check size. A $50M SFO writing $500K checks is a better target than a $5B endowment with a $10M minimum.
Step 2: Layer on geography and sector. Cross-border LPs and those whose sector thesis matches your fund strategy are more likely to respond to cold outreach. Use the cross-border flag and sector fields to identify warm-adjacent contacts.
Step 3: Build a 50-contact initial list. Don't spray the full database. Pick your highest-probability 50 contacts, personalise each outreach, and track responses. A 5% conversion on 50 well-targeted contacts outperforms a 0.5% conversion on 500 generic emails.
Step 4: Expand in waves. Once you have a first close signal, broaden outreach to endowments and pensions — they move slowly but write larger checks and provide credibility for future closes.
Which product is right for you
LP & Family Office Database
Full Investor Network
Start building your LP pipeline today
5,800+ verified LP contacts. Filter by type, AUM, stage, sector, and geography. Import to your CRM and start outreach this week.