Here is our experienced-based guide to present your Tech Startups to Venture Capital Investors!
Raising capital is a substantial distraction from getting your business off the ground with real customers. Before you spend three months chasing a Series A, your teaser should prove to you that the story holds up.
What is an investment teaser?
An investment teaser is the first document a VC reads about your startup. It is short, usually 10 to 15 slides, and it covers the basics: what you do, who buys it, how big the market is, what traction you have, and how much you are raising.
It is not a pitch deck. A teaser is designed to get you a first meeting. A pitch deck is what you present in that meeting. We cover the difference below.
Why does your startup need one?
First, remember that most companies created each year do NOT get any Venture Capital funding. Second, John Mullins customer-funding strategy can be extremely successful for many Ventures. Are you one of these? Here is how to Bootstrap your Startup.
Most startups that try to raise from VCs get rejected. Andreessen Horowitz reviews thousands of inbound deals each year and funds a tiny fraction of them. A teaser also solves two problems at once, paraphrasing Marc Andreessen in his Essay – It’s time to Build. It forces your team to align. And it saves the investor’s time and yours.
What belongs in your Teaser?
There is no standard template, but investors expect the same 10 sections in roughly the same order:
- Executive summary
- Team and background
- Problem statement
- How do you solve this problem?
- Market opportunity
- Product or service
- Business model
- Competition and differentiators
- Traction and achievements
- Fundraising plan (sources / uses of fund)
Our full guide walks through each section with what to include, what to cut, and the mistakes that kill cold outreach to VCs. Here to Download our guide.
Teaser vs pitch deck
Founders use these terms interchangeably. You should not.
The teaser is short, self-contained, and designed to be emailed. 10 to 15 slides. Its job is to earn the meeting. The pitch deck is longer and presented live, with you in the room answering questions. 15 to 25 slides. Its job is to win the meeting.
Some founders try to use one document for both jobs. Don’t. Build them separately.
Get the full 10-slide playbook
The complete investment teaser guide for deep tech founders. 8 pages, with a slide-by-slide breakdown, real examples of what investors want to see, and the 5 mistakes that kill cold outreach to VCs.
Frequently asked questions
How much sales traction do I need before I send a teaser to VCs?
For a seed round in deep tech, most European investors expect to see one or two signed pilots, a handful of letters of intent, or early revenue that proves a buyer exists. Pre-seed is more forgiving: a credible technical team, defensible IP, and evidence you have talked to real customers is often enough. If you have none of these, raising is premature. Spend the next 3 to 6 months getting in front of buyers before you get in front of investors.
My product is deeply technical. How do I explain it without losing the investor?
The first person reading your teaser is usually a generalist partner or an associate, not a specialist. They will bring in a technical expert later if they like what they see. Write the teaser for the non-specialist. Lead with the problem and the buyer, not the technology. Save the technical depth for the data room and the second meeting. See also our podcast on fundraising.
Do I need to include a valuation in the teaser?
No. Stating a pre-money valuation at this stage signals immaturity or desperation. State how much you are raising and what it funds. Valuation and Term sheet are negotiated later, once the investor has seen your team and traction in detail.
Hervé Flutto is the founder of Sparksense, a deep tech sales consultancy that has worked with founders across Europe and North America on go-to-market strategy and fundraising. Before Sparksense, he co-founded two industrial technology startups and worked across Fortune 500 companies in aerospace, renewables, and specialty chemicals. He coaches startups with Digital Switzerland, Station F, Climate KIC, and DECHEMA.
Wait ! Can you be a Customer-funded business?
First, remember that most companies created each year do NOT get any Venture Capital funding. Second, John Mullins customer-funding strategy can be extremely successful for many Ventures. Are you one of these?
Else, download your copy of our Investment Teaser Startup guide below.
Dig deeper ? some great perspectives and insights
We have seen a lot of guidance produced on Fundraising for Startups. From our experience, we recommend the following reads:
Entrepreneur | Your Startup Can Thrive Without VC
Guy Kawasaki | The Only 10 slides you need in your pitch
John Mullins| The Customer-funded Business
