Most founders eventually have to pitch venture firms in hopes of raising capital. Tiffany Luck, a partner at NEA, took the stage at TechCrunch’s All Stage event in Boston to answer how to craft the perfect one.
“I like to think of a VC pitch as your initial way for assessing founder-investor fit,” she told the crowd before diving into her presentation. One of the most important slides to have in a pitch is “The What,” she said, meaning, “‘The What’ are you building.” That’s followed by “The Why” you are the right person for the job and why you have a unique solution. But there’s another Why, too: “‘Why’ is now the perfect time to do it.”
Then there is “The Who,” she continued, “Who have you recruited to do this crazy thing with?” And finally, “The How.”
“How are you going to get there? How are you getting there today? How will you get there over time?” she said.
Then, of course, “some sense of numbers,” she added, saying that part depends on what state a company is trying to fundraise for — pre-seed, seed, Series A, and so forth. “These are just meant to be the fundamental basics.”
Setting the stage
As Luck explained, “The What” sets the stage, telling the investor what the problem is, how it affects people, followed by what solutions exist today and where lies room for disruption.
Showcasing a product demo during “The What” is a good idea, she said, and that a lot of investors love product demos. “If you think a picture is worth 100 words, I think a demo is worth 1,000 hours,” she said. “When you see the product, you actually get it quickly.”
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October 27-29, 2025
Luck said there are two different “Whys” every founder should add …