Pitch deck VC

1. VC Fundraising Deck
[NAMES]
XXX-XXX-XXXX
xxxxxx@company.com
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2. How to use this template
Read through this template to get a sense for the flow of information and what content you might want to consider adding to
your deck. Find more advice in our blogpost on how investors should approach fundraising from LPs.
Note that not all slides apply to every fund; we’ve tried to make it really clear who should use each slide, and
when/why.
It’s common to change the ordering and include/exclude certain sections depending on how the you plan to position
and differentiate your fund.
Slides alternate between explanations of what you should include (watermarked), and practical examples
You can edit the template directly, or re-create your own from scratch using our outline as a guide
Certain sections may be longer, shorter, or omitted completely, depending on your unique background and strategy. We find
that most decks contain 10 or fewer slides. LP decisions typically take months, if not years. The deck is a tool to advance to
the next step.

3. Rough Outline
Here is an overview of the sections you should consider including:
Part I: Most important slides, which can essentially comprise the “executive summary”.
⬚ Background
⬚ Differentiators
Part II: Additional metrics and narratives -- use selectively
⬚ Founder History
⬚ Track Record & Metrics
⬚ Sample Investments
⬚ Investment Thesis
⬚ Investment Criteria
⬚ Terms (this).
Part III: Optional / appendix slides
⬚ Follow-on Strategy
⬚ Co-Investors, Partner Network, Sample LPs
⬚ Executive Summary

4. Background
The first slide after the title slide should be an overview of the GPs that answers (1) who are you and (2) what is compelling
about you? Ultimately, especially for an emerging manager, the LP is investing in the GP. Selling yourself is the most
important piece of the deck.
Note that there are additional sections to provide more detail on your experience and qualifications. See Founder History
and Track Record & Metrics

5. We invest in emerging agriculture
technology startups.
We strive to support the brazen
founders willing to challenge the
status quo and push humanity forward.

6. Mary
Stewart
After 20 years in agriculture and 10 years as a
software engineer, Mary Stewart founded
Uprise, one of the most successful agricultural
tech startups in the 2000s. Since then, she has
consulted and advised dozens of agricultural
tech startups around the midwest.
With her unique skill set, knowledge, and
network, she has gained access to the most
promising emerging agricultural technology
companies, and developed a proprietary
methodology for predicting the long-term value
of these ventures.
• Founder of Uprise
• 30 years experience
• Expertise in
agricultural tech

7. Our Story
Here is where you can give a
high level look into your firm and
what makes you unique.
Mary Stewart
Founder / GP
After 20 years in agriculture and 10
years as a software engineer, Mary
Stewart founded Uprise, one of the
most successful agricultural tech
startups in the 2000s.
With her unique skill set, knowledge,
and network, she has gained access to
the most promising emerging
agricultural technology companies, and
developed a proprietary methodology
for predicting the long-term value of
these ventures.
Emily Wilson
Founder / GP
After 20 years in agriculture and 10
years as a software engineer, Mary
Stewart founded Uprise, one of the
most successful agricultural tech
startups in the 2000s.
With her unique skill set, knowledge,
and network, she has gained access to
the most promising emerging
agricultural technology companies, and
developed a proprietary methodology
for predicting the long-term value of
these ventures.

8. Differentiators
How are you different? This section includes multiple different reasons why the fund manager might stand out from others.
These can be qualitative or quantitative. The goal is to prove to an LP you're uniquely able to see the deal, pick the deal,
and win the deal. It’s important to have a detailed story with several data points supporting. Examples we’ve seen include:
• Access to a specific network of founders
• Unique thesis around a specific space
• Serving an overlooked geographic area
Note that there are additional sections to provide greater detail on the differentiated strategy. This is simply an overview.

9. DIFFERENTIATORS
ACCESS
We have unrivaled access to a
global network of agriculture and
economic experts across academia,
government affairs, and large
industry. Our network of advisors
provides best-in-class expertise for
both investing decisions, and also
for supporting the entrepreneurs we
back.
EXPERIENCE
As 3x founders, we have encountered many of the
challenges and questions that entrepreneurs in this
space will face. We believe the best investors let
entrepreneurs operate autonomously, stepping in and
providing support when it’s needed.
NETWORK
We believe we can provide outsized
support as entrepreneurs go to
market. With greater influence and
leverage in the space, we will
provide door-opening introductions
to potential customers, so that our
entrepreneurs can acquire large
customers early on.

10. ACCESS
We have unrivaled access to a global network of agriculture and economic experts across
academia, government affairs, and large industry. Our network of advisors provides best-in-
class expertise for both investing decisions, and also for supporting the entrepreneurs we
back.
EXPERIENCE
As 3x founders, we have encountered many of the challenges and questions that
entrepreneurs in this space will face. We believe the best investors let entrepreneurs operate
autonomously, stepping in in and providing support when it’s needed.
NETWORK
We believe we can provide outsized support as entrepreneurs go to market. With greater
influence and leverage in the space, we will provide door-opening introductions to potential
customers, so that our entrepreneurs can acquire large customers early on.

11. GP History
This section highlights the GP(s)’ professional experience. Like a resumé, this section should address the question: “What
have you done previously in your career that makes you qualified?”
Note that we have separate sections to showcase investing track record for GPs who have them (including profiling
companies and highlighting metrics). To skip ahead to those examples, see Track Record & Metrics and Sample
Investments.

12. Emily Wilson
Founder/GP
• 3x SaaS founder with a total of $900
million+ in exits
• Founded Meetly in 2001 and sold to Zell
Corp in 2006 for $300m
• Bootstrapped to $10m in ARR and $100m
valuation
• Founded Treehugger in 2009 and sold to
BetaHex in 2014 for $600m
• Advisor at Krakatoa Ventures from 2012 -
2017
• Personal investments include ZenPaper,
Okeru, Merton, and Bigly

13. Founded by
experienced
operators with
investments in
Jump Analytics
and Zen Paper
• 3x SaaS founder with a total of $900 million+ in exits
• Founded Meetly in 2001 and sold to Zell Corp in 2006 for
$300m
• Bootstrapped to $10m in ARR and $100m valuation
• Founded Treehugger in 2009 and sold to BetaHex in 2014 for
$600m
• Advisor at Krakatoa Ventures from 2012 - 2017
• Personal investments include ZenPaper, Okeru, Merton, and
Bigly
• 10 years finance experience including investment banking
and private equity (UBS and JL Capital)
• Joined Unicorn Biotechnologies as CFO in 2003, where she
worked closely with CEO Dane Cook who went on to found
Krakatoa Ventures
• Led Unicorn through IPO in 2005
• Joined Krakatoa full time as a principle in 2007
• Lecturer at Stanford Graduate School of Business since 2009
• Led Krakatoa’s investments in Jump Analytics, Okeru, and
Efficient Office
Mary Stewart
Founder / GP
Emily Wilson
Founder / GP

14. 2001: Mary founds Meetly
2006: Meetly sold to Zell Corp $300m
2009: Mary founds Treehugger
2014: Treehugger sold to BetaHex $600m
2012-2017: Mary acts as advisor to
Krakatoa Ventures
2003: Emily joins Unicorn Biotechnologies as CFO
2005: Emily leads Unicorn through IPO
2005: Emily joins Krakatoa Ventures as a principal 2009-Present: Emily works at Stanford School
of Business as a lecturer

15. Track Record & Metrics
For investors with a track record of investing either personally or at previous funds, this section provides the opportunity to
highlight past success in terms of well-defined metrics like multiples, IRRs, and DPI.

16. Track
record &
metrics
CAPITAL
$20 million deployed
39.9% Net IRR and 2.3x TVPI as of March 31st, 2020
COMPANIES
20 investments
5 Series Seed/A rounds led
OUTCOMES
1 IPO
3 acquisitions

17. $20M
deployed
39.9%
Net IRR as of
March 31st, 2020
20
investments
5
Series Seed/A
rounds led
1
IPO
3
acquisitions

18. Track
record &
metrics
Vintage Year Fund Size
IRR
(Gross/Net)
TVPI
Fund I 2008 $25,000,000 51.0% / 43.3% 5.2x / 4.7x
Fund II 2013 $50,000,000 62.3% / 53.6% 4.3x / 3.5x
Fund III 2016 $55,000,000 55.0% / 42.9% 2.7x / 2.2x

19. Sample Investments
This section profiles examples of companies the fund manager has invested in previously. This offers up an opportunity to
provide specifics on what those companies do, how they fit with the investment.

20. Internal messaging
software for large
enterprises
Invested $1 million in the
seed
Early customers include
Rivercouch
Technologies, Nightbird
Networks, and Meetly
Founder also started
ThemeBuilder
4.5x multiple
SaaS remote
conferencing tool
Experienced founding
team with previous exits
Invested at $500k at the
seed
10x + multiple
Currently valued at $1.7
billion
Founder investing in the
fund
Fundraising analytics
platform
Founded out of Stanford
GSB
Invested $2 million to
lead the Series A
Lightspeed and
Andreessen have since
led rounds
Series C valued at $700
million
Restaurant FP&A
management platform
Founded by two
engineers and
restaurant entrepreneur
Danny Meyer
Hit $100m ARR in under
5 years
Acquired by Expedia in
2017 for $900m

21. SaaS remote conferencing tool
Experienced founding team with previous exits
Invested at $500k at the seed
Carried at 10x cost basis
Currently valued at $1.7 billion
Founder investing in the fund

22. Investment Thesis
Here, the investor can provide a narrative around their investment thesis. This is often a story around the market today,
predictions about the future, and how the companies they invest in play a part in that future. A similar narrative structure
might be the market today, gaps that exist, and how that investor will identify and invest in companies that fill those gaps.
This section may also include criteria around the size and focus area of the opportunity. However, it differs slightly from the
more structured Investment Criteria section that follows. The Investment Thesis presents a nuanced, abstracted, or
intellectualized view of the world which defines the more concrete investment criteria that follow.
The difference between these two sections are illustrated in the sample slides.

23. One-size fits all solutions.
Enterprise value creation driven
primarily by economies of scale.
FIRST
GENERATION
OF
AGRICULTURAL
TECH
NEW
PARADIGM
OF
AGRICULTURAL
TECH
Regional
specialization
e.g. on-demand
working capital
within the
midwest
Opportunity creation via
specialization
Vertical
specialization
e.g. logistics
analytics
software
specifically for
produce

24. In the first wave
of agricultural
technology
startups, a one-
size fits all
approach drove
enterprise value
creation.
We believe that with the influx of capital into the ecosystem,
opportunity creation for the next wave of agricultural tech will be
driven by specialization. By building differentiated products that
fit unique needs of specific groups consumers and businesses,
customers will migrate to solutions that feel more tailored to
them.
After achieving superior product-market fit within specific
segments, entrepreneurs will be able to drive further value to
their customers by providing adjacent products and services,
charging a premium for “all in one place” convenience.

25. Investment Criteria
This section details the criteria or structure the investor plans to apply when making investing decisions. Some examples of
such criteria include: company stage, geographic location, founder background, industry. These are typically well-defined,
though some may be more subjective (e.g. “potential to reach $1 billion + in valuation” or “potential to create monopoly
within its category”).

26. Investment criteria
INDUSTRY FOCUS STAGE TEAM EXPERIENCE
Focused on serving a specific
segment of people or
businesses within the broader
agricultural tech and
agricultural finance space
Showing early signs of
product-market fit, with some
revenue and a product live in
market.
• Series Seed, A or B
• Some previous funding, but
generally not raising more
than $15m
Founding teams comprised of
experienced operators with
10+ years of industry
experience

27. Portfolio Construction Terms
Before addressing terms, it’s common to include a breakdown of your portfolio’s construction. The key is to model out the
portfolio so LPs understand # of deals, check size, target ownership, geography, sector, target return, anything else. This is
sometime included with the fund terms slide.

28. $75M
Fund size
10-15%
Deal ownership
15-20
Portfolio companies
50-50 split
All US-based
companies
50% on coasts
50% in the midwest
$3M-$5M
Invested per company
10x+
Target deal return

29. Terms
One of the last slides of the deck should provide specifics on the economic and business terms associated with the fund.
This is usually not a major point of differentiation, but needs to be addressed.

30. $50M
TARGET RAISE
MANAGEMENT FEE
2.0%
CARRIED INTEREST
20% on profits
MINIMUM COMMITMENT
$1,000,000
Accredited or qualified limited partners only
Assumes a fund term of 10 years