Kirill Sheynkman came over to the Rose Tech Incubator and spoke about pitching to VC’s. I took some high notes personal notes from the talk.
Tell them what you are doing.
“We are a _____ for ____ a market worth $$$.”
What is the pain you are addressing.
Who are the people that have the pain.
How many are there?
Let them know your realistic goals.
Think about the next round.
Expect 35%-40% for a series A.
2 1/2 post round B.
How are you going to get to this point?
Think about the next round
Who will sign the check?
Down Rounds are bad!
The first meeting.
The second meeting.
The partner meeting.
Due diligence (can take weeks).
Close (4 to 6 weeks to get a deal done.)
Start to pitch 6 months before the next round. It is the CEO’s job full time to be raising money.
It is the board of directors job to manage how well the CEO’s performance is going for a company.
Check out Kirill’s blog, he is also on twitter.