When it comes to getting the attention of investors, your business idea is only as good as your pitch. According to Fundwise co-founder Gleb Maltsev, partners at VC firms can be pitched around 1,000 times a year — making it easy for your pitch to get lost in the mix. So how do you stand out? We asked four NYC-based investors which pitches inspired them to invest in startups.
What was the best pitch you’ve ever heard?
The best pitch I’ve ever heard wasn't really intended to be a pitch — it was just Brian Smith telling the story of how Ample Hills (a Brooklyn-based ice cream shop) got started, how it had grown, and where he wanted to take it. Ample Hills is a very special company with big ambitions, and I don't think I've ever seen a more authentic story — especially considering Brian had asked me two days before what a deck was supposed to look like.
What advice do you have for entrepreneurs looking for investors?
Keep in mind who is sitting across the table and what they're looking for. Why you started a company isn't always the same as why I might want to invest.
What was the best pitch you’ve ever heard?
The best pitches are when you walk into a room without much of a pre-formed opinion, and then you meet an exceptional entrepreneur who convinces you within 10 minutes that he or she is building a fundamentally important company to address a crucial problem that they're uniquely positioned to solve. It's sort of magical when everything clicks. One great example in recent memory for me was Adam Braun and his college alternative company MissionU. I wasn't particularly focused on education from an investment thesis standpoint, but I basically knew within a few minutes that I wanted to invest in this CEO and his mission.
What advice do you have for entrepreneurs looking for investors?
There's an abundance of materials online on just about every aspect of fundraising and venture capital, so do tons of homework before you start and become as sophisticated at it as you can.
What was the best pitch you’ve ever heard?
The best pitch I’ve ever heard was for Snaps (a platform for brands in mobile messaging). In terms of potential market opportunity, it’s a big idea that’s solving a very real problem. Also, the timing for the opportunity was perfect.
What advice do you have for entrepreneurs looking for investors?
Winston Churchill said “never, never, never give up.” Founders raising will face many skeptics — so channel Churchill and keep on going!
What was the best pitch you’ve ever heard?
We are lucky to meet so many terrific founders addressing huge and interesting problem spaces across enterprise software. In recent memory, we sat down with Liz Maida, CEO of Uplevel Security, a technical founder with a deep appreciation of the problem in security operations. One of the biggest challenges in security right now is not only the lack of resources but also the lack of expertise. What resonated for us was the unique approach that Uplevel is taking to security intelligence, by using innovative graph-based machine learning technology to surface and accelerate the response to the most critical security threats to the business.
What advice do you have for entrepreneurs looking for investors?
Find a VC who will roll up their sleeves and work alongside you. Who is a VC you can imagine texting anytime day or night — whether for a fire drill or just to swap crazy ideas and feedback? This type of relationship is such an important one.
