Playbook for early-stage founders to prepare for the Investment Committee at a VC fund
ICs are broken. They treat the deal lead’s job akin to escorting the founder to a pitch, when it is to champion the deal with full conviction
If the IC:
a. Needs a founder to "convince" them
b. Bypasses the deal lead to renegotiate/decline investment ad-hoc
c. Bases all conviction on a third party and not on hard data/facts of the deal lead...
... then it's not an IC. It's a risk/lala committee in disguise. Trust your champions, or don't call them that. Too many tourists
Agree to an extent!
ICs are swayed by who tends to present the deal internally.
Hence, understanding and leveraging your champion is the crucial factor here!
ICs are broken. They treat the deal lead’s job akin to escorting the founder to a pitch, when it is to champion the deal with full conviction
If the IC:
a. Needs a founder to "convince" them
b. Bypasses the deal lead to renegotiate/decline investment ad-hoc
c. Bases all conviction on a third party and not on hard data/facts of the deal lead...
... then it's not an IC. It's a risk/lala committee in disguise. Trust your champions, or don't call them that. Too many tourists
Agree to an extent!
ICs are swayed by who tends to present the deal internally.
Hence, understanding and leveraging your champion is the crucial factor here!