Thanks for this post. I think this exercise is not just useful for would-be VCs, but also entrepreneurs. As a startup founder, you have to design your startup to solve obvious problems and pitch your startup to investors. Studying patterns of what types of startups succeeded in raising funds and why can really help to improve the chances of a successful fundraising and also building a startup that will succeed. Based on a brief look at the “DealMemo” posts on Medium, it looks like there are basically three ingredients: (1) the startup is solving an obvious problem that is important and relevant (2) the startup has a solution which is innovative and it’s easy to see how this solution can solve the problem (3) The startup is capable of delivering the solution (because of a strong team, passion, etc).