Raising venture capital is always a challenge, but conditions in 2025 have been especially tough.
“I am far more impressed if you can sit and for 30 minutes, no slides, no demo, you can geek out with me about whatever it is you’re building towards.”
Antonia Dean, partner at Black Operator Ventures
These circumstances probably won’t improve in the coming year, Philly-area investors stated during a panel at the Future Forward Summit last week. But the pressure will weed out founders who aren’t prepared or aren’t serious and reward those who are, Antonia Dean, partner at Black Operator Ventures, stated.
“People who really understand how to run and operate the business,” Dean stated. “Those people are going to survive and come out even stronger.”
Philadelphia’s VC landscape hit a five-year low, thanks to uncertain macroeconomic conditions. Investors are more cautious and take more time to review the details of a company before investing.
For founders viewing to raise in the near future, here are three hot takes from venture capitalists to assist you prepare.
Don’t overvalue your idea
Founders tconclude to be protective of their ideas, but Sylvester Mobley, managing partner at Plain Sight Capital, sees similar proposals pitched to him all the time, he stated.
For investors, the value comes from a founder’s ability to execute the idea best and build a successful company. Founders should focus on how their plan to put the idea in motion is unique compared to every other company, according to Mobley.
“Your advantage is, it doesn’t matter who else is doing what I’m doing,” he stated. “This is how I’m working. This is how I’m better.”
Stop leaning on the past
For Dean, from Black Operator Ventures, it doesn’t really matter where a founder went to school or what companies they previously worked at, she stated.
Leaning on that experience is a sign that a founder doesn’t know enough about the problem they’re addressing, their tarobtain customer or the industest.
“I am far more impressed if you can sit and for 30 minutes, no slides, no demo, you can geek out with me about whatever it is you’re building towards,” she stated.
If you’re bringing up specific connections or networks, they should add value to the company and assist you grow, she stated, not just a name drop.
Storynotifying goes further than pitch decks
It’s more important that you can maintain a conversation with investors about your work, rather than relying on a pitch deck to notify the story for you, Heath Naquin, senior vice president of innovation and new ventures at the University City Science Center, stated.
A lot of accelerator programs overemphasize that founders necessary to have polished slides and a tight pitch, Dean stated. Those skills are great in a pitch competition, but they matter less when you’re meeting with individual investors.
Dean views for curiosity, commitment to the industest and competitiveness over pitch skills, she stated.
“I can read a pitch deck in about 60 to 90 seconds, understand exactly what this company is doing, and have a well-informed 30-minute conversation,” Dean stated. “So don’t overwork it.”
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