In order to build conviction, we rely on founders to tell us a compelling story, almost always in the form of slides. We’ve funded companies almost entirely because of the quality of their seed decks. Poor deck? We’ll likely pass on the opportunity.
It is nearly impossible to convince a VC of a thesis they don’t already believe, so the key in fundraising is to ‘discover’ the right partners, not try to educate and convince…
I was just reminded that for our Series A, we sent a questionnaire to the investors we were considering to understand if we have alignment.
Then the investor needed to write a doc or a presentation explaining their answers and thinking.