4,500 pitch decks --> 11 checks written.
0.2% deck-to-funding rate.
Couple of thoughts on this venture math (which may be a little extreme, but I think is representative of the world of pre-seed & seed):
- Founders should realize they may have been the 12th "best" pitch that VC heard in a year where they invested in 11 companies. No need to over-rotate on the feedback!
- Investors should think deeply about whether they can really tell the difference between the 11th and 12th-best companies they saw last year. And if they can't, maybe do slightly more investments into slightly more...offbeat startups. It's all about finding the contrarian ones anyway, right?
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