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VCs are meeting with 60 to 80 entrepreneurs a month and taking cold pitches, one says. But their attention spans are getting shorter, research shows.

Published by Business Insider on Thu, 08 Apr 2021

<p><img src="https://static3.businessinsider.com/image/606f3f3e4d3e410018b700cd-2400/GettyImages-1178810710.jpg" border="0" alt="Russ Heddleston DocSend" data-mce-source="Kimberly White/Getty Images" data-mce-caption="DocSend CEO Russ Heddleston."></p><p></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>VCs are looking for startups at a frantic pace as they face mounting pressure to clinch deals. But they're scrolling through pitches faster and spending less time in meetings with founders.</p><p>Such are the things that DocSend has gleaned from analyzing how investors are interacting with pitch decks.</p><p>Kyle Lui, a partner at venture firm DCM and one of DocSend's board members, told Insider he now takes more than twice as many meetings with founders as he did before the pandemic. He estimated that he meets with about 60 to 80 entrepreneurs a month, versus 20 to 30 a year ago.</p><p>Lui has also cut those meetings in half, to 30 minutes from an hour previously. Certain details, like a startup's financial projections, have become skippable in those initial discussions, he said in an email.</p><p>Investors are also more willing to consider cold pitches, DocSend chief executive Russ Heddleston told Insider, and that's showing up in their higher engagement with pitch decks. For founders, it means that more than ever, a PowerPoint presentation can make or break their fundraising efforts, he added.</p><p>"It certainly puts more pressure on the deck itself and how a founder shows up in that," he said.</p><p>Moreover, VCs are spending less time with each pitch deck than they were a year ago, according to DocSend. That fits in with a broader trend of investors <a href="https://www.businessinsider.com/investors-cut-corners-due-diligence-fast-paced-vc-deals-2021-3">making decisions on investments more quickly</a>.<br><br>DocSend's data also suggests that&nbsp;founders are sending out their pitch decks to a wider group of investors than they were a year ago, the company saida factor that has fueled&nbsp;<a href="https://www.businessinsider.com/silicon-valley-startups-are-getting-flooded-with-vc-funding-offers-2021-3">increased competition for deals</a>.</p><p>Pitching more investors at once is a smarter strategy for founders seeking to build momentum for their funding round, according to Heddleston.</p><p>"That's the deal dynamic," he said. "You want to batch up all of those meetings."</p><p><a href="https://www.businessinsider.com/vc-demand-startup-pitches-climbs-meetings-getting-quicker-2021-4#comments">Join the conversation about this story &#187;</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/how-symphony-seas-worlds-largest-cruise-ship-deals-with-waste-2020-3">How waste is dealt with on the world's largest cruise ship</a></p>
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