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What VCs look for in startup pitches

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Re: What VCs look for in startup pitches

#11

Post by deepGem »

fragsworth wrote: post #3

I get two different stories from different crowds on this issue. From many VCs and angels themselves - at least the ones that get their articles upvoted on this site - I get the impression that they dislike being bullshitted at. They hate people who are disingenuous. They don't care too much about projections or future plans. They just want to see how good your team is. From everyone else in the industry (those looki…

There's a fine line between bullshitting and using the right jargon. A good analogy is your resume. If you don't use the words that the recruiters look for in a resume - even if you are very good at what you do, you won't get past the automatic software screeners. Similarly if you don't use the correct jargon with the VCs, it's very unlikely that you'll get past their initial screen test. You don't have to bullshit about your plan, your team or your future goals - but you need to use the right words and language to describe them.

Re: What VCs look for in startup pitches

#12

Post by pedalpete »

Is it just me or does Vincent Lauria stand out as the one guy in the bunch that I wouldn't want to pitch (or have a beer with).

I've noticed this trend with VC's I've met. The bigger the VC name, the more respectful they are of entrepreneurs and what they go through.

I know there are lots of people who pitch bad ideas, but that is what having good deal flow is about. Getting your schedule so packed with good people/businesses that their is no room for the ones that wouldn't make it.

Re: What VCs look for in startup pitches

#15

Post by biot »

drumdance wrote: post #5
fragsworth wrote: post #3

I get two different stories from different crowds on this issue. From many VCs and angels themselves - at least the ones that get their articles upvoted on this site - I get the impression that they dislike being bullshitted at. They hate people who are disingenuous. They don't care too much about projections or future plans. They just want to see how good your team is. From everyone else in the industry (those looki…

Recently on a date with a non-tech person I described my company as "not likely to be a billion dollar company, but a good one nonetheless." She was shocked that I would even mention the b-word. I need to get out more. :-)

Not to burst your bubble, but from the standpoint of pure probability it's not likely to be a million dollar idea either. However, I don't know anything about you or your company so maybe you've beaten the odds and your company is on track to having an arms-length valuation greater than a million dollars already.

Re: What VCs look for in startup pitches

#16

Post by daegloe »

pedalpete wrote: post #12

Is it just me or does Vincent Lauria stand out as the one guy in the bunch that I wouldn't want to pitch (or have a beer with). I've noticed this trend with VC's I've met. The bigger the VC name, the more respectful they are of entrepreneurs and what they go through. I know there are lots of people who pitch bad ideas, but that is what having good deal flow is about. Getting your schedule so packed with good people/b…

IMHO, Vinnie is exactly the guy you want to pitch (and have a beer with). Seek out the investors that will tell it like it is instead of simply telling you what you want to hear.

Disclaimer: I'm a mentor at Golden Gate Ventures, and Vinnie is a big reason why I agreed to join the team.

Re: What VCs look for in startup pitches

#17

Post by atirip »

Help me out here please.

One would think that any VC's absolute core, essential, vital skill would be "read between the lines", "see through", "smell the stuff"? So they can pick the best investments regardless of the pitch. Like having a sixth sense. If you can't do that, what good are you investing?

But no. Sometimes I feel that even YC is become pitching contest, not startup contest. Countless on stories here on how to act, say things, what to wear, what to do etc. Is it really come to that, that even PG picks best pitches, not best idea/teams. If yes, why do you bother to apply? If no, why do you bother to polish the pitches?

I have hired lot of people to work for my small businesses througt the years. I have always read between the CV lines, thrashed the "best" ones and picked "worst" ones, they all turned out great workers. So?

Re: What VCs look for in startup pitches

#18

Post by drumdance »

biot wrote: post #15
drumdance wrote: post #5

Earlier quoted context omitted.

Recently on a date with a non-tech person I described my company as "not likely to be a billion dollar company, but a good one nonetheless." She was shocked that I would even mention the b-word. I need to get out more. :-)

Not to burst your bubble, but from the standpoint of pure probability it's not likely to be a million dollar idea either. However, I don't know anything about you or your company so maybe you've beaten the odds and your company is on track to having an arms-length valuation greater than a million dollars already.

I agree completely. My point is that when I'm talking to entrepreneur types this sort of talk is shorthand for how I describe the company's potential.

Re: What VCs look for in startup pitches

#20

Post by Heinleinian »

pedalpete wrote: post #12

Is it just me or does Vincent Lauria stand out as the one guy in the bunch that I wouldn't want to pitch (or have a beer with). I've noticed this trend with VC's I've met. The bigger the VC name, the more respectful they are of entrepreneurs and what they go through. I know there are lots of people who pitch bad ideas, but that is what having good deal flow is about. Getting your schedule so packed with good people/b…

Apparently Vincent hasn't figured out how to pre-filter people before he gives up 30 minutes to meet with them...

Perhaps he should look for a new associate or two.

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