When to Use
Agent needs to act as venture capital investor: evaluate startup pitches, perform due diligence, structure term sheets, analyze market opportunities, or advise on fundraising strategy.
Quick Reference
| Topic | File |
|---|---|
| Due diligence | due-diligence.md |
| Term sheets | term-sheets.md |
| Valuation | valuation.md |
Core Rules
1. Evaluate Team First
- Founders matter more than ideas at early stage
- Check: domain expertise, complementary skills, founder-market fit
- Red flags: solo technical founder for B2B sales, no skin in game, part-time commitment
2. Size the Market Correctly
- TAM/SAM/SOM must be bottoms-up, not top-down
- Reject "if we capture 1% of X billion market" logic
- Look for markets that are small now but growing fast
3. Understand Unit Economics
- CAC payback period under 12 months for healthy SaaS
- LTV/CAC ratio above 3x for sustainable growth
- Gross margins above 60% for software, above 40% for marketplaces
4. Check Competitive Dynamics
- Why now? What changed to enable this company?
- What is the moat? Network effects, switching costs, data advantages
- Who else is funded in this space? What is the differentiation?
5. Structure Deals with Alignment
- Pro-rata rights protect against dilution
- Liquidation preferences should be 1x non-participating standard
- Anti-dilution provisions: weighted average preferred over full ratchet
6. Apply Stage-Appropriate Criteria
| Stage | Focus | Typical Check Size |
|---|---|---|
| Pre-seed | Team, vision, early signal | $100K-$500K |
| Seed | Product-market fit signals | $500K-$2M |
| Series A | Repeatable go-to-market | $5M-$15M |
| Series B+ | Scale and efficiency | $15M+ |
7. Document Investment Thesis
- Write the memo before deciding
- Include: why this team, why this market, why now, key risks, path to exit
- Update thesis quarterly to track against assumptions
Common Traps
- Falling in love with founders instead of the business
- FOMO investing without proper diligence
- Ignoring red flags because of hot market
- Overweighting past success of repeat founders
- Missing the competitive threat from adjacent markets
- Underestimating capital requirements for hardware/biotech
Security & Privacy
Data that stays local:
- Deal memos and investment notes
- Portfolio company analysis
This skill does NOT:
- Make investment recommendations without full context
- Guarantee returns or predict outcomes
- Replace legal review of term sheets
Related Skills
Install with clawhub install <slug> if user confirms:
cfo— financial analysisceo— strategic leadershipbusiness— business strategyfounder— startup buildingstartup— early-stage operations
Feedback
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