The First VC Meeting (Series Posts)

by Mark Suster 

I see a minimum of 3-5 pitches per week and often I see up to 10. I also have raised more than $40 million as an entrepreneur and CEO across multiple rounds of venture capital in 1999, 2000, 2001, 2003 and 2005. That means that I have probably pitched maybe 120 investors and received 20 "yes" answers and nearly 100 "no's." Well, actually, VCs never really tell you "no", they just tell you, "interesting. It's a bit early for us. Call us back when you have a bit more traction."  Which basically means, "No. But just in case you get big against all odds, please come back and see us since I didn't tell you no."

So I've developed a sense of what I think VC's are looking for having sat on both sides of the table. Not every investor will agree with my advice here and when I give this feedback to entrepreneurs they occasionally tell me that it conflicts with what they heard from other investors. My response is always, "many people have different opinions on this topic, I just happen to be right " … (obviously this is tongue-in-cheek, I follow up with "I'm just one data point, though, so take in many and mix mine into the pot".

Part 1: Begin with you Bio and that of the Key Members of the Team

Part 2: Slide 1 – What you do 

Part 3: Slide 2 – The problem definition  

Part 4: Slide 3 – Tell me how you solve this big problem

Part 5: Doing a Demo (VC pitch or otherwise)

Part 6: It's the Size of the Wave, Not the Motion of the Ocean

Part 6-cont.: Pitfalls in Market Sizing  

Part 7: Pitching a VC – Dealing with Competition

Part 8: NINAs and Egg Breakers (Pitching a VC)

Part 9: Raising Angel Money

Part 10: Who Should Attend Your VC Pitch?

Part 11: What Should I Send a VC Before the Meeting?

Part 12: On NDAs and Confidentiality