1Partech Ventures – Boris Golden

The 4Ms of my « ideal » seed startup1. MARKET: Big market opportunity

1. Pain points / People (specific segments of people suffer / lack this a lot for those reasons)

2. Size (there are a lot of people concerned, the potential market is huge & a big chunk can be yours)

3. Timing/attractivity (now is the right time to sustainably disrupt this attractive market)

4. Competition (you can outsmart existing companies/alternatives and have a clear differentiation)

2. MODEL: Disruptive & virtuous model1. Positioning / Value prop / Product (you create a disruptive, scalable, lasting,

systemic value)

2. Go-to-market / Distribution (you can get customers in ways effective for an explosive growth)

3. Monetization (this is how you monetize & make profit, and it can be big & capital efficient)

4. Defensibility (you have barriers to entry, positive/network effects & a multistep strategy to win)

3. MANAGEMENT: Best team to do it1. Stellar team (you are skilled, smart, cohesive, lean, energetic, reliable, execution-

driven…)

2. Unfair team/project fit (you are exceptionnally fitted to succeed at this project)

3. Grit, ambition, obsession (you want to build something really big, whatever it takes)

4. Insights/vision (you know in-depth your market & model, and have a vision of for the future)

4. MOMENTUM: Worth backing now1. Cracked something (you have significant evidence of relevancy, appetite & a

promising traction)

2. Maturity (you clearly describe done/status/plans, and your next VC round will be in ~18 months)

3. ROI (your company can become really big, it’s not too expensive and the risk/reward is attractive)

4. VC/startup fit (you & I « click », I’m relevant to your project and we want to work together)

2Partech Ventures – Boris Golden

Make it easy for VCs to believe in you!

Time

Tra

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2) Promisingtraction

(~MOMENTUM)

1) Potential forsomething huge(MARKET + MODEL)

3) Plausible pathfor you to get there(MODEL + MANAGEMENT)