VC Investment Thesis Collection

Tldr; Collection of VC investment thesis that has been made public

The VC world is murky. The innards rarely see light. I just had an advisory call with some chaps setting up a fund and they asked about fund structuring (not the first time). When I mentioned ‘This is not something you can Google.’ They laughed and said ‘yeah, we know!’ Every time I have a beer with a VC friend and chat about their fund structure the pattern is pretty much ‘It depends on where your LPs are, it’s complicated, talk to a lawyer.

The startup funding process used to be as opaque, but in the early 2000s bloggers such as Venture Hacks, Fred Wilson and the like started explaining everything including term sheets.

The VC/LP world has not taken to sharing with the other kids in the sandbox. Indeed, there are very few blogs from LPs. Chris Douvos’s is the only one I have found as of yet. He is very eloquent and I highly recommend reading it.

In an attempt to better understand VCs, I set out to read their investment thesis’ in 2015. One would think this would be the most basic thing.

VCs expect every founder reaching out to them to understand what they invest in, so surely they would do the service of spelling it out? Providing a veneer of academic rigour can easily be illustrated by displaying their investment thesis. Only, you would be wrong.

Having scoured the internet I have only been able to accumulate a handful. If I had this problem, I felt others no doubt would too. So like the VC pitch deck collection and startup pitch deck collection, I created one for VC investment thesis’.pitch deck

If you have one to share, kindly ping me at [email protected] and I’ll add it. Cheers.

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VC Investment Thesis Collection

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