VC Meetings - What questions to ask as an analyst

Hi everyone,

After graduating this past May from undergrad I was hired as an interning analyst(focused on the financial/operational side of things) by a smaller VC(100M AUM) focused on Bio/Med/Neurotech. I've been working there for a few months now, and my responsibilities/workload has been growing, which I of course don't mind since I feel that I have learned a lot in the past few months, and I am happy to now have the opportunity to put everything into practice.

An area that I feel I have been struggling in is being vocal during the meetings with companies in the pipeline seeking investment. I tend to not have confidence in the questions that I feel like I should ask/I am unsure of what questions I should be asking. So my question is: Are there certain questions that you, as the investor, make sure you are asking the founders, especially in the initial intro meeting. It would be great to have some a sort of checklist of questions that I should be asking during these meetings in order to gain the most important information to pass onto the partners. 

I would really appreciate any and all answers. Thank you!

 

Hey there,

First off, kudos to you for stepping up your game in the VC world! It's great to see you're eager to learn and grow. Now, onto your question.

When it comes to initial meetings with founders, it's all about understanding their vision, their product, and their market. Here are some questions you might want to consider:

  1. Can you walk me through your business model? How do you plan to generate revenue?
  2. What problem does your product/service solve? Why is it unique?
  3. Who are your main competitors and how do you differentiate from them?
  4. Can you share some details about your target market? How big is it and how do you plan to reach it?
  5. What are your key performance indicators? How do you measure success?
  6. What's your growth strategy? Do you have plans for scaling up?
  7. How will our investment be used? What milestones will it help you achieve?

Remember, the goal is to understand the potential of the business and the competence of the team. So, don't be afraid to ask tough questions. It's all part of the job!

And remember, every meeting is a learning opportunity. The more you do it, the better you'll get. So, keep at it and don't be too hard on yourself. You're doing great!

Hope this helps and best of luck with your future meetings!

Sources: Want to build a startup & raise some money? Part II, Q&A: Analyst --> Associate at a VC / Growth Equity Firm, Q&A: 2nd Year Associate at a VC fund - Breaking in With a Fund of Funds + IB background, Q&A: 1st year VC analyst (~750M AUM)

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