Venture Capital (VC) Pitch Due Diligence Qs

Let me start with a quote from Marc Andreessen:

“At our venture capital firm we only invest in a sort of Silicon Valley–style tech. We see 3,000 inbound deals a year. And those are inbound and coming through our referral network, so those are sort of prequalified. We can do maybe 15 or 20 investments out of the 3,000 a year. So I like to say our day job is crushing entrepreneurs’ hopes and dreams. Our main skill is saying no, and getting people to not hate us.”Source: Inside the mind of Marc Andreessen – Fortune Magazine

It pains me to see how many entrepreneurs have no idea what makes a startup fundable. Over 99% of the entrepreneurs who seek financing are rejected.

If you get rejected by Accelerators, Angels or VCs, and they don’t tell you why, you need to understand the objections and the analysis that led them to their decision. Most good investors take the time to explain. Also, there are some fairly standard reasons why entrepreneurs get rejected by investors.

So, my humble advice to all entrepreneurs: please learn to assess your own probability of getting funded. This course is a very good start if you need a crash course in fundability.

This is also an excellent preparatory tool for building your investor pitch.

In the course, you will find sample pitches with feedback sessions.

The 1Mby1M courses are all heavily based on interview-based case studies on Innovation, Business Models, Go To Market Strategies, Validation Principles, and various other nuances of an entrepreneur's journey. We offer extensive opportunities for entrepreneurs to learn the lessons from the trenches from successful entrepreneurs who have done it before and Investors who support their ambition.

What's inside

Learning objectives

Through real-life pitches and dialogues, learn what investors want to see in a pitch.
Learn what goes on in an investor's mind when they are reviewing a startup pitch.
Why 99% of startups fail to get funding from angels and vcs no matter how hard they try.
How to analyze your own startup with an investor hat on.

What the difference is between successful and unsuccessful startup pitches.
How to increase your chances of getting funded by angel investors and vcs.
What the most common mistakes are that startups looking for funding make.
How to go to investors as king, not as beggars.

Through real-life pitches and dialogues, learn what investors want to see in a pitch.
Learn what goes on in an investor's mind when they are reviewing a startup pitch.
Why 99% of startups fail to get funding from angels and vcs no matter how hard they try.
How to analyze your own startup with an investor hat on.
What the difference is between successful and unsuccessful startup pitches.
How to increase your chances of getting funded by angel investors and vcs.
What the most common mistakes are that startups looking for funding make.
How to go to investors as king, not as beggars.

Syllabus

Learn what questions VCs ask startup founders as part of their own due diligence process.

The toughest round of funding an entrepreneur seeks to raise is pre-seed investment. It sports the lowest probability of success, the highest amount of ambiguity, is poorly defined, and is causing the greatest amount of confusion and road wreck out there. Please read the article, 9 Udemy Courses on How to Raise Pre-seed Startup Funding, that I have shared as an external resource.

Shared as an external resource are the self-assessment questions that can help you identify the gaps in your business-building process. These are the questions investors will ask you during your pitch, and what you need to ask yourselves. To improve your probability of success, please be sure to answer these strategic planning questions convincingly. To validate a business idea, as well, these are the questions that need compelling answers.

Keith pitches DraftMate, an original matchmaking service for sports fans. Investor Tony Olivito, Partner at Comeback Capital, also provides feedback.

Here Andres is pitching his B-to-B venture.

Here Aidan is pitching his B-to-C venture.

Zoe pitches DepartDiscount, an app to help short-term rental hosts differentiate. Investor Ritesh Agarwal, Co-founder and Managing Director CerraCap Ventures, also provides feedback.

Shantanu is pitching PhonePass, a two-factor authentication technology. Investor Deepak Jeevankumar, Managing Director at Dell Technologies Capital, also provides feedback.

Please pick your favorite case studies from the course and run them through a validation and positioning exercise. Use the 1Mby1M Self-Assessment questionnaire and try to answer each question in it.

Here are examples of some pitches that took place during one of our free and online mentoring roundtable programs. You will find a pitch template under Resources. Once you are ready, come pitch your business idea at an upcoming 1Mby1M Roundtable.

Traffic lights

Read about what's good

what should give you pause

and possible dealbreakers

Provides insights into the due diligence process from the investor's perspective, which helps entrepreneurs prepare for tough questions and refine their pitches

Features real-life pitch examples and feedback sessions, which offers practical guidance on what investors look for in a startup pitch

Explores the reasons why many startups fail to secure funding, which helps entrepreneurs understand common pitfalls and improve their chances of success

Includes external resources such as self-assessment questions, which helps entrepreneurs identify gaps in their business-building process

Requires learners to use a self-assessment questionnaire to analyze case studies, which may require additional time and effort outside of the core course content

Includes a bonus lecture that encourages learners to pitch their business idea at an upcoming roundtable, which may not be suitable for all learners

Reviews summary

Vc pitch due diligence essentials

According to students, this course provides a strong foundation in understanding the due diligence questions VCs ask startup founders. Learners particularly appreciate the instructor's expertise and the inclusion of real-world pitch examples with feedback sessions. Students say it offers valuable insights into the investor's mindset and helps them analyze their own startup effectively. While largely seen as practical and insightful, a few students note that it serves more as an overview and might require further study for deep dives into specific topics.

Offers a solid introduction to the topic.

"This course provides a very good overview of the VC due diligence process."

"It's a crash course that gets you up to speed on the basics of fundability."

"A great starting point for anyone new to seeking venture capital."

Provides actionable tools and self-assessment.

"The self-assessment questions provided a practical framework to evaluate my own business idea."

"I can immediately apply the tools and questions discussed in the course to my startup."

"It's not just theory; it gives you actionable steps for preparing for funding."

Clarifies key questions VCs ask founders.

"Understanding the specific due diligence questions VCs ask is a game-changer for pitch prep."

"The course clearly outlines the critical questions I need to be ready to answer."

"It helped me anticipate investor concerns and structure my pitch accordingly."

Features actual pitches and investor feedback.

"The case studies with real entrepreneurs pitching and getting feedback were incredibly helpful."

"Seeing how investors reacted to different pitches was the most valuable part for me."

"Analyzing actual pitches helped me understand the concepts better than just theory."

Gives insights based on real-world experience.

"The instructor's vast experience and knowledge shine through the course."

"Her insights are very practical and grounded in real-world VC interactions."

"I learned a lot from Sramana Mitra's perspective as an insider."

May require further study for specifics.

"While excellent as an overview, it left me wanting more depth on certain topics."

"It's a great introduction, but don't expect a deep dive into every single aspect of VC."

"I think supplementary resources might be needed for those seeking exhaustive coverage."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Venture Capital (VC) Pitch Due Diligence Qs | Sramana Mitra with these activities:

Review Startup Valuation Methods

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Strengthen your understanding of how startups are valued to better understand investor perspectives and due diligence questions.

Browse courses on Startup Valuation

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Research common startup valuation techniques.
Practice applying these techniques to sample startups.

Read 'The Lean Startup' by Eric Ries

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Understand the Lean Startup methodology to better assess a startup's approach to validation and product development.

View The Lean Startup: How Today's Entrepreneurs Use... on Amazon

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Read the book and take notes on key concepts.
Consider how the Lean Startup principles relate to investor due diligence.
Reflect on how these principles can be applied to your own startup or investment decisions.

Read 'Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist'

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Gain a deeper understanding of venture capital deal terms and negotiation strategies.

View Startup Boards: A Field Guide to Building and... on Amazon

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Read the book cover to cover.
Take notes on key concepts and deal terms.
Reflect on how these concepts apply to your own startup or investment ideas.

Four other activities

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Show all seven activities

Participate in Mock Pitch Sessions

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Practice pitching your startup or evaluating others' pitches in a simulated investor setting to refine your skills and gain valuable feedback.

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Form a group with other students or entrepreneurs.
Take turns pitching your startups and providing feedback.
Focus on the due diligence questions and investor concerns discussed in the course.

Develop a Mock Due Diligence Questionnaire

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Solidify your understanding of investor due diligence by creating a comprehensive questionnaire that covers key areas of a startup's business.

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Review the due diligence questions discussed in the course.
Research additional due diligence questions commonly asked by VCs.
Organize the questions into categories such as market, team, and financials.

Analyze a Real-World Startup Pitch

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Apply the course's principles by analyzing a real-world startup pitch deck and identifying its strengths and weaknesses from an investor's perspective.

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Find a publicly available startup pitch deck.
Evaluate the pitch deck based on the due diligence questions covered in the course.
Write a report summarizing your findings and recommendations.

Attend Startup Pitch Events

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Observe real-world startup pitches and investor feedback to gain insights into the dynamics of the funding process.

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Find local startup pitch events or demo days.
Attend the events and observe the pitches.
Take notes on the questions asked by investors and the feedback provided.

Career center

Learners who complete Venture Capital (VC) Pitch Due Diligence Qs | Sramana Mitra will develop knowledge and skills that may be useful to these careers:

Startup Founder

Startup founders need to understand what investors want to see in a pitch to secure funding for their ventures. This course helps startup founders learn to assess their own probability of getting funded by understanding the objections and analyses that lead investors to their decisions. The course provides a crash course in fundability, helping founders avoid common mistakes and increase their chances of success. By analyzing their startup with an investor hat on, founders can identify gaps in their business-building process and improve their pitches accordingly. This course may help a startup founder increase their funding chances.

See salaries and explore the career path for Startup Founder

Venture Capital Partner

Venture capital partners are senior-level professionals at venture capital firms who are responsible for making investment decisions, managing investments, and providing guidance to portfolio companies. This role requires a deep understanding of the startup ecosystem, investment strategies, and due diligence processes. The course provides a deeper look at investor due diligence conversations. The insights from this course may help venture capital partners refine their investment criteria, improve their due diligence process, and make more informed investment decisions. Reviewing sample pitches with feedback sessions is valuable for a venture capital partner. This knowledge may help in understanding what makes a company fundable.

See salaries and explore the career path for Venture Capital Partner

Venture Capital Analyst

A venture capital analyst evaluates potential investment opportunities in startups and emerging companies. This role requires the ability to assess a company's business model, market opportunity, and management team. This course helps aspiring venture capital analysts understand what investors look for in a startup pitch and the common mistakes that entrepreneurs make. Understanding investor due diligence conversations is critical to this role. The real-life pitches and dialogues in this course provide valuable insights into the investor's perspective. Furthermore, this course may help analysts learn to analyze a startup with an investor's mindset, increasing their understanding of what makes a company fundable.

See salaries and explore the career path for Venture Capital Analyst

Business Incubator Manager

Business incubator managers oversee the operations of incubators that foster the growth of early-stage companies. A key aspect of this role involves providing guidance and support to startups as they seek funding. This course helps incubator managers understand what investors look for in a pitch and the common mistakes that entrepreneurs make. The course gives incubator managers the tools to evaluate startup pitches and provide constructive feedback to their clients. This course's emphasis on analyzing a startup with an investor hat on helps incubator managers identify promising ventures and guide them toward success.

See salaries and explore the career path for Business Incubator Manager

Angel Investor

Angel investors provide capital to startups in exchange for equity. This course may help angel investors refine their investment strategies and improve their ability to identify promising startups. Learning from real-life pitches and dialogues, angel investors can gain valuable insights into the thought processes of other investors and the key factors that drive investment decisions. This course may help potential angel investors analyze startups with an investor hat on. Understanding what questions VCs ask startup founders as part of their own due diligence process is crucial to this role.

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Startup Consultant

Startup consultants advise new businesses on various aspects of their operations, from business strategy to fundraising. This course may provide those wishing to become a startup consultant with a strong understanding of what makes a startup attractive to investors and the due diligence process. The course's focus on investor expectations and common pitfalls helps prospective consultants guide their clients effectively. The featured sample pitches and feedback sessions offer practical insights into crafting compelling funding requests. The course, with its emphasis on analyzing a startup from an investor's perspective, may help you become a more effective startup consultant.

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Chief Financial Officer

The Chief Financial Officer, or CFO, is responsible for a company's financial planning, management, and reporting. For startup CFOs, understanding the venture capital process and being able to present the company's financial performance to investors is critical. This course helps startup CFOs understand what investors look for in a pitch and how to address their financial concerns. Understanding investor due diligence conversations is critical to this role. The course helps the CFO learn from real-life pitches and dialogues to refine their presentation skills and increase their chances of securing funding.

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Chief Executive Officer

A Chief Executive Officer, or CEO, of a startup is responsible for the overall vision, strategy, and execution of the company. CEOs need to understand the venture capital landscape and be able to present their company's vision in a compelling way to investors. This course helps CEOs understand what investors want to see in a pitch, enabling them to increase their chances of securing funding. This course may help the CEO learn from real-life pitches and dialogues to refine their presentation skills and address investor concerns effectively. A CEO may take this course to learn how to go to investors as King, not as beggars.

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Business Development Manager

Business development managers are responsible for identifying and pursuing new business opportunities for a company. A key aspect of this role involves understanding investor expectations, especially when startups seek funding. This course helps business development managers gain a deeper understanding of what investors look for in a pitch, increasing their ability to identify potential partnerships. The knowledge gained from this course may help business development managers align their strategies with investor priorities and increase their chances of securing funding for their company's initiatives. The focus on investor due diligence conversations is especially valuable.

See salaries and explore the career path for Business Development Manager

Chief Technology Officer

The Chief Technology Officer, or CTO, is responsible for a company's technological direction and innovation. For startup CTOs, understanding the venture capital landscape and being able to articulate the company's technology roadmap to investors is important. This course may help startup CTOs understand what investors want to see in a pitch and how to communicate the value of their technology effectively. This course may help a CTO refine pitches and address investor concerns, increasing their chances of securing funding.

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Investment Banker

Investment bankers advise companies on raising capital through various means, including debt and equity offerings. Understanding the venture capital landscape and the criteria that investors use to evaluate startups helps investment bankers provide more effective advice to their clients. This course may help investment bankers understand what goes on in an investor's mind when they are reviewing a startup pitch. The course, with its focus on sample pitches and feedback sessions, offers practical insights into what makes a company fundable. This course may help those pursuing a career as investment banker.

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Management Consultant

Management consultants advise organizations on how to improve their performance and efficiency. For consultants working with startups, understanding the venture capital process and investor expectations is important. This course may help management consultants learn what investors look for in a startup and the common mistakes that entrepreneurs make. By studying real-life pitches and feedback sessions, consultants may gain valuable insights into the factors that drive investment decisions. This knowledge enables those acting as management consultants to provide more effective advice to their clients and help them achieve their funding goals.

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Product Manager

Product managers are responsible for the strategy, roadmap, and feature definition of a product or product line. Understanding the dynamics of startup funding and investor expectations may help product managers align their product development efforts with market demand and investor priorities. This course may help product managers understand what investors want to see in a pitch, enabling them to make more informed decisions about product strategy. This course's emphasis on analyzing a startup with an investor hat on helps product managers identify opportunities for innovation and differentiation as well as increasing the fundability of your project.

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Private Equity Associate

Private equity associates analyze investment opportunities, conduct due diligence, and support the management of portfolio companies for private equity firms. While private equity focuses on established companies, understanding the venture capital world provides a valuable perspective on early-stage investments. This course may help private equity associates compare and contrast venture capital and private equity investment approaches, broadening their understanding of the investment landscape. This understanding may help private equity associates learn what questions VCs ask startup founders as part of their own due diligence process. This course may give a private equity associate a more holistic view of the investment world.

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Mergers and Acquisitions Analyst

Mergers and acquisitions analysts are involved in the process of buying, selling, or merging companies. While mergers and acquisitions typically involve established companies, understanding the venture capital world provides a valuable perspective on early-stage investments and potential acquisition targets. It may be useful to analysts to compare and contrast venture capital and mergers and acquisitions valuations and investment approaches, broadening their understanding of the investment landscape. This course may give a mergers and acquisitions analyst a more holistic view of the investment world.

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Venture Capital (VC) Pitch Due Diligence Qs

Sramana Mitra

What's inside

Learning objectives

Syllabus

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Reviews summary

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Activities

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