It doesn’t hurt, but the real issue is whether any investor will watch it. If the investor doesn’t know you they won’t watch your video. If you work your network to get an introduction or referral, it’s better to do a live meeting or call.
Also, don’t use videos in your investor pitch. It feels like a cop out.
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I’d like to add to Raymond’s point regarding the effective use of videos in reaching potential investors with a personal anecdote. In starting up a video business, the most natural medium for us to explain what we do was...you guessed it, through a video. That particular video was key to securing funding for our launch. Our own explainer video for our “explainer video business” laid it all out for people who were completely unfamiliar with our particular talents and the product we were selling. Our message was very clear and any objections they may have had were quickly answered by an effective visual. In the end we got the funding :-)

