45-second assessment
Are you venture backable?
5 questions. An honest assessment against the benchmarks VCs use: T2D3 growth, TAM, team, and defensibility.
The math behind every "no"
A $100M fund must return $300M to LPs. With 65% of portfolio companies failing, 1 to 2 investments must return the entire fund. That means every deal needs 100x potential, not 10x.
65%
fail or return <1x
25%
return 2-5x
10%
must return the fund
Revenue multiples by vertical →
AI / ML20-40x revenue
B2B SaaS10-20x
Fintech8-15x
Healthtech6-12x
Consumer / Marketplace5-10x
Climate / Energy8-15x
GovCon / Defense4-8x
2025-2026 fundraising benchmarks →
Pre-Seed$500K-$2M at $5-12M cap · SAFE
Seed$2M-$5M at $12M-$25M · $100K-$500K ARR
Series A$8M-$20M at $40M-$80M · $1M-$3M ARR
Series B$20M-$50M at $100M-$250M · $5M-$15M ARR
Series C+$50-200M+ at $300M-$1B+ · $20M+ ARR
What type of company?
Affects how we weight revenue vs. team.
Software & Digital
Deep Tech & Physical
Other Verticals
What this means for your next raise
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