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This week's newsletter features insights from our head of research, Justin Izzo, on the make or break slides that go inside a seed-stage pitch deck. Also, we share the documents that emerging fund managers should include in their data room, which tools investors use to build their fund, and a VC's perspective on the "VC pullback".

Sealing the deal in 12 slides: What VCs want to see inside your seed deck

Justin Izzo, Content Research Lead at DocSend, dismantles the science behind building a successful seed pitch deck and the make-or-break sections that go inside.

If you’re a seed founder ready to get potential investors amped about your product, look no further than your pitch deck. Building a simple, well-thought-out deck will not only help you capture VC attention quickly, but will also convince them why your company is positioned to be the next big thing.

Based on our research, we explain what a successful seed pitch deck looks like, how long VCs spend on each section, and the specific information investors want to see inside.

What is the purpose of a seed pitch deck?

Founders use seed decks to educate and excite potential investors about their product and market potential—ultimately using it as a tool to raise money. Structurally, seed founders organize their decks in a way that tells a compelling narrative VCs can quickly understand.

How much time do investors spend reviewing seed decks?

We see VCs spend an average of three minutes and 20 seconds reviewing seed pitch decks. With less than four minutes to hook their interest, this means that seed founders need to get their attention at the very beginning of the deck to get them to continue all the way through.

What does a successful seed pitch deck look like?

While all successful pitch decks are unique in their own way, each follows a uniform structure that’s designed to capture VC attention quickly. Following these clear formatting, content, and slide order guidelines lets founders tell a compelling story that captures VC interest and helps them raise money.

What sections need to be included in a seed pitch deck?

We’ve found that building a 19-20 page deck with the following sections is the best way to catch the attention of busy investors. 

Keep in mind that your slide order matters. While most of the seed decks we see tend to follow a similar structure, founders who open their decks with the first four sections above are more likely to raise funding than those who opt for other approaches.

In the full post, we break down each of these sections, explain their purposes, and share do’s and don’ts for including the make-or-break details VCs want to see.

Section 1: Company purpose

This is the first slide in your seed deck and should clearly outline your company’s purpose in a single sentence.

Do: Pitch it to other people. What words capture their interest the most? Equally important, does it make sense? Your purpose statement should not only be enticing, but straightforward. If it’s not, go back to the drawing board until it’s just right.

Don’t: Overcomplicate it. Busy VCs have neither the time nor interest to decipher complicated or vague vision statements. Keep your company purpose simple, succinct, and memorable.

• Target section length: 1 page
• Industry averages:
  • Average length: 1.3 pages
  • Time VCs spend here: 26 seconds

More slides = more money
For the next 11 slides you should include in your seed pitch deck, read the full blog post that's based on our research, not 'insights or thought leadership'. 

Pitch Deck Interest Metrics Update

Fundraising activity slowed last week for both founders and investors. Investor interactions fell 8.02%, Time Spent per deck went down by 3.7%, and Founder Links Created dropped 8.42%. Here's the full analysis of last week's activity.

Recommended Reads

17 documents you should include in your emerging funds data room

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Are we witnessing a major VC pullback? Is it temporary? What does that mean for startups? Certainly the leading topic in many startup circles that Matt Turck, a VC at FirstMark, details in his latest blog post.

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Max Fleitmann started VC Stack to bring education and resources to an industry lacking in both. Having gained experience as both a founder and an investor during his career, he shares his insights on emerging funds trends and tech tools.

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