Pitching a VC: “Textbook” Style Conversation
Joseph (Start Up Founder): Hi, nice to meet you… [Glance at Name Tag] …Harvey, from ABC Capital! You look very familiar, have we met before?
Harvey (VC): I’m afraid not. I just joined ABC Venture Capital 2 weeks ago. But you probably might have read my blog about…
Joseph: Yes! Of course! Your fantastic blog that talks about very useful things that VCs look out for.
Harvey: …Not really. I write more about cats. Anyway, what do you want?
Jsoseph: I want to share with you more about my start up and see what you think. It doesn’t matter if you don’t invest, i simply want to connect with you as an individual because you seem such a nice person.
Harvey: Sure. Please tell me more.
Joseph: Nice! So I started this in my garage. This was about 5 years ago just after i finish college. I realised that my degree will get me nowhere and thought start up is the way to go. Even though i was heavy in student debt, I just knew this was the idea that will change the world.
Harvey: Go on.
Joseph: I roped in Joe, my fellow college mate who was initially as passionate about it as me. We slogged through day and night, bootstrapped the company and built a MVP within 2 months. Yet Joe wasn’t ready for the start up life and always wanted to go back to the corporates. So he left 3 months in and I had to slog it out by myself. But i am super passionate about this idea. To pay my student debt while still doing this start up, i mortgaged my family house and slept at my friends’ places for about 2 years. I had to move out because they decided not to be my friend anymore.
Harvey: Loving the dedication…
Joseph: During that 2 years, I basically did everything myself. From product construction to design and finally marketing. It was very tiring and I almost had a bout of depression.
Harvey: That is awful.
Joseph: After that incident, I had to take more drugs. Like a lot. The bills were crazy. And during that period, I got into a few accidents. So even more bills.
Harvey: You seem to be in a very dire state.
Joseph: And to add on to that, I stay in San Francisco. Cheap eats are few and far between. I had to go hungry for a few days.
Harvey: You are pitiful.
Joseph: Yes. I am very pitiful but its all because I believe in what Iam building. That is why i am willing to go through all this pain.
Harvey: Carry on.
Joseph: See this scar on my arm?
Harvey: Yes. What has this got to do with your start up?
Joseph: I cut it accidentally while working. See my dedication.
Harvey: Yes but..
Joseph: And a lot of people do think that i am super dedicated about my idea. I once shared with a couple of individuals and they think it is such an amazing thing that I am doing. That gave me the drive to continue after so long.
Harvey: I can smell your dedication but who are these people?
Joseph: People i met at cafes, on the street and of course some of my former friends who i lived with for a little while. But of course, I need help.
Harvey: What kind of help?
Joseph: Your help of course. I am super passionate, fun loving and just the right person to do this. I studied in Stanford, Berkerley, Harvard… all the top schools.
Harvey: Yes…
Joseph: And Andreessen, Khosla, NEA, Sequoia… I am super connected to people there. I have added them all on LinkedIn and Twitter.
Harvey: Interesting but i wonder if they have invested…
Joseph: We are in talks! But will you like to invest? We are looking for USD 2.5 M for out Seed Round. We can give a discount but you must act fast for our round will close soon given that we are talking to so many people and we cannot reserve a spot for you.
Harvey: Quick question; what problem are you solving again?
Joseph: [Confidently] I am making photo sharing easy again~
Harvey: [Groans] … Thank you Joseph.
