I gave a talk yesterday at Bootup about the "Art of the Investor Pitch" -…
Entrepreneurship
When we think about pitches, most of the focus is on entrepreneurs pitching investors for capital. But VC can be competitive, particularly for interesting deals, and in many cases, the pitch meeting is a two-way street. Some of the best later-stage investors walk founders through an institutionalized “reverse” pitch. If you find yourself in the […]
I gave a talk yesterday at Bootup about the "Art of the Investor Pitch" -…
I met with 10 early-stage startups in Seattle yesterday and it was a good reminder…
When we think about pitches, most of the focus is on entrepreneurs pitching investors for capital. But VC can be competitive, particularly for interesting deals, and in many cases, the pitch meeting is a two-way street. Some of the best later-stage investors walk founders through an institutionalized “reverse” pitch. If you find yourself in the fortunate position of being oversubscribed, you’ll likely look to build the best investor base and find the right partners for your journey.
How do you decide who you should have in your cap table?
Lastly, dig down into how an investor behaved during new financing rounds or during exits. Ask other founders and co-investors if the VC has always acted in the best interest of the company or just themselves. In the former case, I’ve heard many stories of VCs unwilling to give up their pro rata rights to the point where it jeopardizes the round from happening and have even threatened to sue. For the latter: how has the VC supported companies as they exit for a profit, capital back and at a loss?
At Version One, our reverse pitch is a little different than a platform fund’s pitch since we’re a team of two. We don’t have the scale of a platform fund, but it doesn’t mean that we (or other smaller investors) are not value-add.
We are working on developing a “manifesto” of what founders can expect from us and hold us accountable for after we’ve invested. We currently have a biweekly check-in call with each CEO where we talk about everything from business strategy to hiring, fundraising, mental wellness, and more. But we plan to “formalize” our learnings and best practices on board meetings, metrics, building purposeful culture (including diversity and inclusion), compensation, coaches, hiring checklists for specific roles, list of best service providers and more.
We hope that this exercise will not only bring some scale to the functions we’ve been doing over the years, but will also allow new and prospective founders to better understand what they can expect as part of the Version One family.
In the meantime, we’d love to hear how you decided on your investor syndicate? What reverse pitch resonated with you? And more importantly, in working with your favourite investors, what has moved the needle?
Portfolio
It’s hard to believe we’re already three quarters into the year. At V1, we’re all about finishing strong, and Q3 gave us plenty of reasons to be excited about what’s ahead. As always, we’ve rounded up a quick snapshot of the action across our portfolio from the past quarter: Funding announcements We welcomed TRIC Robotics […]
The V1 family kicked off the new year with fresh energy and no shortage of…
Fall is in the air and we are heading into the last quarter of 2023.…