I have a draft deck put together for a next Brooklyn Bridge Ventures fund.
I pretty much hate it.
Don't get me wrong--the numbers look great. That's not it. It just doesn't really get at what's really important. I wasn't sure exactly how it missed, so I went back to first principles.
What *is* really important for a venture fund?
It really only boils down to a couple of questions--and that's how I'm going to simplify the story of my deck.
- Does the firm have access to quality deal flow?
- Why would anyone want to take their money?
- Do the expected returns make sense, given typical entry valuations for their stage, reasonable mortality rates, potential ownership, and rational exit sizes?
- Are your interests aligned by way of the proper incentives?
- Will the experience of partnering with this individual be a positive one?
That's basically it.
Much better deck coming soon.