While both documents may contain similar elements, it's the angle from which each is written that makes the difference.
Traditionally a pitch deck is created by the startup entrepreneurs. Its goal is for the founders to communicate their business idea, achievements, and where they're heading. The pitch deck usually takes the form of a presentation. A pitch deck may be biased as it is written by the same people who are seeking an investment.
In comparison, a deal memo is created by an investor to make the case for an investment and to make an investment decision on whether or not to proceed to the next phase of due diligence. The deal memo usually takes the form of a document. And although it's written by someone who would like to proceed with making an investment, a deal memo can be more objective since it's written by a third-party and not the startup's founders themselves. For example, a deal memo may also include reasons for not investing, foreseen challenges, and weaknesses of the startup.
Both a pitch deck and a deal memo contain similar elements like the business opportunity, market size, team, traction and valuation.
Both types of scouts have as their main goal to source new startup deals to invest in. lInternal VC scouts are usually part-time or full-time employed as an intern, researcher, associate, or junior partner. External scouts are not officially employed by the investor and are usually compensated on a deal-by-deal basis.Read full answer »
Venture scouts are resourceful connectors that may assist venture capital firms in discovering hidden, exceptional startups and founders to invest in ahead of the competition.Read full answer »
Yes, you can. In fact, unless you're independently wealth, you should work while being a scout to sustain a living.Read full answer »
Having investment experience is not a requirement to start a role as a VC scout. So for example you don't need to have a history of investing your or other people's money in startups.Read full answer »
Broadly speaking, the answer is no. You do not have to be an accredited investor to be a startup scout.Read full answer »
As a VC scout, you can expect to have a different compensation or salary based on the firm you work with. Options include cash on deal completion, cash for relevant intros, startup equity proportional to the investment, and your own micro-fund.Read full answer »
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