Date: 2026-09-23 Source: Email “Rye Valley <> Costanoa” - Michael Houck to Taylor Bernal (taylor@costanoa.vc), John Cowgill Prior captures: Costanoa: Proposal Finally Sent to Taylor Bernal (overdue from Sep 8), Michael x Costanoa
Signal
Michael sent a second nudge to Taylor Bernal and John Cowgill on Sep 23. The proposal was sent Sep 15 (already 7 days late from the Sep 8 commitment). Now 8 days since the proposal with no reply. Two follow-ups sent with no response.
Message: “Hey Taylor, John, Wanted to nudge this! LMK if any questions came up on your side”
Business Fact
- Proposal sent Sep 15; second nudge sent Sep 23 (day +8 with no reply)
- Risk: prospect cooling after proposal delay + extended silence
- No signal of rejection - could be internal decision process, timing, or deprioritization
- Deal still technically alive; no response either way
Watch
- Any response from Taylor or John; extended silence past Sep 26 would be a soft churn signal
- Whether a third follow-up escalates or drops this deal
Update: 2026-09-29 - John Cowgill replied: deal on hold due to family bereavement
John Cowgill replied Sep 29 to Michael’s outreach. Taylor Bernal (the main point of contact) experienced an unexpected death in the family. John said they will “circle back on working together later.” He also passed on a deal Michael forwarded to him (crypto/govtech not a fit) but offered to share with his crypto VC network.
Business fact: Costanoa deal is effectively paused indefinitely. Not a hard no - John’s tone was warm. Taylor is unavailable. No follow-up action appropriate until they re-engage.
Recommended: mark deal as “on hold” and suppress follow-ups until Taylor or John initiates.