Practical Tips
Building IR Materials That Get Funded
Compiled from both sides: having raised money directly from a Korea Fund of Funds-backed fund, and having sat on the review side.
The basic structure of an IR deck
- Problem. Whose pain, exactly, in numbers
- Solution. How our product removes that friction
- Market. Target market and entry sequence
- Traction. The real numbers so far
- Business model. Who pays how much, and why
- Team. Why this team
- Funding plan. How much you spend on what, and how far it takes you
What early investors actually look at
At the seed stage, financial projections are mostly wrong. Investors know that. So rather than the numbers, they look at how the team has tested its hypotheses and how fast it changed course when it was wrong.
Valuation is the result of negotiation, not of calculation. But price it high without grounds and it becomes a burden in the next round.
What to prepare before the meeting
- One-sentence intro. What the company does, in 30 seconds
- 10 expected questions and answers. Especially on competitors and the moat
- Data room. Corporate registry, articles of incorporation, shareholder registry, financial statements, key contracts
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