Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Pitch Ready - Get into the minds of VCs

739 views

Published on

How to fundraise - By Shruti Gandhi, Managing Partner, Array Ventures

Published in: Technology
  • Be the first to comment

Pitch Ready - Get into the minds of VCs

  1. 1. + Getting into the Mind of a Venture Capitalist PITCH READY Shruti Gandhi @atShruti [ARRAY VENTURES]
  2. 2. ARRAY VENTURES ARRAY VENTURES + Track Record 5 EXITS: OVER 4 YEARS Venture Capital Experience Who am I? Education Engineer on lotus. Started incubator. Think/do tank for Chairman’s office. 6 US patents. Operating experience Founder. Big data analytics. Shruti Gandhi @atShruti
  3. 3. ARRAY VENTURES + CREATING YOUR PITCH DECK THE KEY ELEMENTS
  4. 4. ARRAY VENTURES ARRAY VENTURES +  What is your big idea?  Tell them your company one-liner  Don’t only focus on today – talk about tomorrow’s vision too Share Your Vision
  5. 5. ARRAY VENTURES ARRAY VENTURES +  Describe the customer’s pain  Lay out the competitive landscape  Why are you different?  Why now?  How big is the market?  Be realistic Paint the Opportunity + the Market Tell a story. I need to know what problem you are solving and why you care about that problem. —David Hornik, August Capital “ ”
  6. 6. ARRAY VENTURES ARRAY VENTURES +  What is your Industry Expertise?  Tell them why you have the right mix  Who are your advisors?  How long you have worked together?  Outline the division of your responsibilities Why is Your Team the Right One
  7. 7. ARRAY VENTURES ARRAY VENTURES +  Customer stories  POCs  Paid Customers Show, don’t tell. show a demo, show customer testimonials; don’t tell me what you will do. Show me what you’ve done. start with a “bottoms up” story — why you built the product and started the company. unless you’re in an obtuse industry don’t start with ‘top down’ — ‘Market size is X; market inefficiency is Y’ etc. —David Lee, SV Angel “ Show Us People Want it – 3rd Party Validation + Traction ” You can show product traction through a number of measures – customer acquisition, usage, etc. ReadyForZero tracks product efficacy.
  8. 8. ARRAY VENTURES ARRAY VENTURES +  Show Your Future Roadmap  List the key milestones before next fundraise  What is your burn rate?  Tell them the timeframe for your next round Use of Funds Product People Performance Finances Fundraising Roadmap
  9. 9. ARRAY VENTURES + LEADING UP TO THE MEETING HOW TO PREPARE
  10. 10. ARRAY VENTURES ARRAY VENTURES +  Warm introductions are preferable but are predicated on the following:  The person introducing you has a strong relationship with the other individual  You know that person will vouch for you  High-likelihood that the other individual will accept the intro  You have a compelling reason to be introduced  Go in cold if the above are not true The Introduction Sometimes going it alone can be the best route afterall. While a warm introduction can be valuable when the stars are aligned, they can do more harm than good when they are not. —Scott Pollack, Head of BD at SumAll “ ”
  11. 11. ARRAY VENTURES ARRAY VENTURES +  Aim for Investors with Fit & Focus  Chase a Partner, Not the Fund  Ensure there is no competitive interests (i.e., a portfolio company)  Research the size of their investments Who to Reach Out To and How
  12. 12. ARRAY VENTURES ARRAY VENTURES + Sending the Pitch Deck  Most investors want to see your deck before hand but they will probably spend only 20 seconds on screening it  They look for:  Fit / Market  Round size, deal terms, and traction  Team  Depending on the firm, they will ask their associate to screen and take next steps Who is your audience?
  13. 13. ARRAY VENTURES + THE MEETING WHAT TO DO
  14. 14. ARRAY VENTURES ARRAY VENTURES + What to Expect
  15. 15. ARRAY VENTURES ARRAY VENTURES + What Investors Expect From You  Thorough knowledge  Aware of competitors  Knowing your metrics cold  Good formulated answers  Good team dynamics
  16. 16. ARRAY VENTURES ARRAY VENTURES + What You Should Expect From Investors  Impatience  ADHD  Some knowledge of the space  Get to the point
  17. 17. ARRAY VENTURES ARRAY VENTURES + What Not to Do If you have co-founders, pick a single co-founder to do the pitches & the meetings. Two reasons: 1) Nothing worse then having 2 or more people show up, but only one person does all the talking. Makes you suspect some odd founder dynamic. 2) Fundraising is a massive distraction and pretty hard to run the company and fundraise simultaneously. If all the co-founders are involved, makes me nervous that the company isn’t running at full speed. —Raanan Bar-Cohen, Resolute VC  Don’t bring everyone to the 1st meeting  Don’t get into an intellectual argument  Don’t make up numbers on the fly  Ask for intros “ ”
  18. 18. ARRAY VENTURES ARRAY VENTURES +  Square  AirBnB  Mint.com  Dwolla  Piccsy What to Do
  19. 19. ARRAY VENTURES + #AMA @atShruti

×