We have the utmost respect for the courage, dedication, and resilience it takes to be an entrepreneur in our industry – especially when you’re out raising your next round of financing. That’s why we’ve decided to share our “10 Advisements” for crafting a compelling fundraising pitch.
We owe it to you – because the best among you have taught us.
What follows is a reflection on what to do (and what not to do), distilled from more than 5,000 pitch presentations we’ve seen over 18 years as a life science investor at Sunstone.
1) Prepare meticulously
Your pitch is one of many – often we evaluate 10–20 opportunities in a single week. You usually get one shot. And if you miss, it can be a while before we circle back.
2) Be self-explanatory
Your deck is often the first touchpoint in the VC process – the meeting is the second or third step. You might never get the chance to clarify your story. Make the deck stand on its own.
3) No more than 30 slides
Link your innovation clearly to the value it creates. Present your team, plan, and budget concisely, and use appendices to provide additional depth. Be efficient – we have a lot to digest.
4) Make it accessible
Your audience may include everyone from medical students to seasoned MDs. They all need to understand your innovation. If your message isn’t clear to a wide range of expertise, it may not land.
5) Let your innovation take center stage
What excites us most is the innovation itself as well as the data that demonstrates and benchmarks its value. Disease focus, team, and budget may amplify that excitement – but rarely replace it.
6) Share data generously
We understand the dilemma of sharing data without an NDA. But often, it’s a single compelling figure – a graph, table, or heatmap – that tips the scales and earns you a follow-up. There may not be a second chance.
7) Pass the Google test
Claims of being the “first,” “best,” or “only” are surprisingly easy to disprove – and often are. Make sure your assertions hold up under a quick Google or ChatGPT search. Whether the search result is right or wrong is irrelevant – it’s the perception that matters.
8) Be personal
Never let an advisor or banker stand between you and the investor. We’re considering investing in you. If you’re not personally engaged, we won’t be either.
9) Manage your fundraising narrative
No one wants to be the last investor you approach. Investors talk. Make sure they all hear the same story – ideally, a good one.
10) Keep it fresh
Your pitch has a shelf life. Like milk on the table, it can go sour. Keep your materials updated with timely data and relevant progress.
And if none of this is news to you – chances are we learned it from you.
What do you think? Feel free to share your thoughts! …and have a great summer!