The Ultimate List of 250 Questions VCs Ask Founders

Raising venture capital isn’t just about pitching a great idea. Investors fund high-growth companies — not concepts — which means you need real traction, a standout team, and a clear path to scale. Still, too many founders walk into investor meetings without being ready for the tough questions that actually determine whether a deal gets done.

The good news? Fundraising is a learnable skill. With the right preparation, you can approach investors with confidence, sidestep common mistakes, and build relationships with the right partners for your startup.

That’s why we put together this guide — a curated list of 250+ real VC questions, organized by category so you can focus on what matters most. Our goal is simple:

1️⃣ Cut down your fundraising time so you can focus on building.
2️⃣ Help you connect with investors who genuinely align with your mission.

Let’s dive in.

1. Fundraising

These questions help investors understand your funding strategy, financial health, and capital efficiency. VCs want to see that you’re not just raising money, but raising it with purpose — tied to clear milestones and growth outcomes.

Key Questions VCs Might Ask:

What’s the size of the round?
What’s the allocation of the funds?
What are the KPIs for this round?
What’s the pre-money valuation?
How did you determine the size of the round?
What is the progress of talks with other investors?
Why do you need a round if you already have positive EBITDA?
Do you already have term sheets from other funds?
What are your expectations regarding the valuation?
Who wants to invest?
We expect a 10x return on invested capital, and we do not know if it will be possible to take into account your expected valuation.
Why do you need this round?
What is the expected runway from this round?
What kind of investor are you looking for?
What is the plan for the next round?
Is it possible to tranche the round?
Will the next round be domestic or international?
At what stage are you in the fundraising process?
Tell me more about how you plan to spend this money to expand internationally.
What kind of value-added do you expect from an investor?
Do you want to close the round with one investor or multiple investors?
What kind of investors are you looking for in this round?

💡 Pro Tip:
VCs want clarity and confidence. Provide data-backed answers that show how much you’re raising, how the funds will be used, and what you’ll accomplish with the capital. Justify your valuation using benchmarks, traction, and projections.

📝 Sample Answer:

Q: What’s the expected runway from this round?

“We’re raising $5M, which gives us an 18-month runway. With a current burn rate of $200K/month, this funding allows us to expand the team, grow into two international markets, and reach $1.5M ARR. We project profitability by Q3 of next year.”

2. History

This section helps investors understand your company’s origin story, financial history, and early traction. VCs are looking for signs of grit, resourcefulness, and how effectively you've used capital to get where you are today.

Key Questions VCs Might Ask:

When was the company incorporated?
When was the first commercial invoice/revenue generated?
How much cash has been raised to date?
How have you financed the company so far?
Where did the idea come from?
What is the legal structure of the company?
Where is your company incorporated?

💡 Pro Tip:
Showcase your resilience and capital efficiency. Whether you bootstrapped, raised from angels, or leveraged grants, highlight how each dollar helped you hit meaningful milestones. Investors love a scrappy, resourceful founder.

📝 Sample Answer:

Q: How did you finance the company until now?

“We initially bootstrapped with $100K in personal savings and secured a $50K grant from [Program Name]. Our pre-seed round brought in $750K from angel investors, which enabled us to build our MVP, onboard our first 10 paying customers, and hit $20K MRR within 12 months. This traction laid a solid foundation for our current raise.”

3. Team

Investors place as much value on teams as they do on products. A strong, well-rounded team is essential to executing the vision and scaling the business. VCs want to ensure that your team has the right blend of skills, experience, and commitment to make the business succeed.

Key Questions VCs Might Ask:

What is the size of the team?
Do you have a CTO?
Who are you planning to recruit in the near future?
Aren’t the salaries for your employees too low?
How do you attract employees to the company?
Please provide more information about your current employees.
Do you have support staff?
What are the key hires you plan to make?
What is the division of responsibilities within the team?
Who is full-time, and who is part-time?
What are the main competencies of the key team members?

💡 Pro Tip:
Investors love teams with complementary skills. If you lack a key role, like a technical co-founder, be transparent about your plans to fill that gap. Highlight any prior startup experience, industry expertise, or standout achievements that make your team unique.

📝 Sample Answer:

Q: Do you have a CTO?

“Yes, our CTO, Sarah Johnson, brings over 12 years of experience in AI-driven software development. She previously led the engineering team at XYZ Corp, where she scaled their product to support over 1 million daily active users. Under her leadership, we’ve built a proprietary machine learning model that reduces processing time by 40%, a major differentiator in our market.”

4. Exit Strategy

VCs are invested in startups with an eye on high returns, typically through an acquisition or IPO. They want to understand your company’s long-term vision and how you plan to deliver those returns.

Key Questions VCs Might Ask:

When do you plan to exit?
Who could be a potential buyer?
There are many similar solutions on the market; why would anyone acquire your company?
We do not see what could drive the growth of the business to achieve a 30x increase in valuation upon exit.
What is the potential exit strategy for investors?
When will you be ready for the exit, and are you planning any more rounds?
What is important for a potential buyer?
How can you achieve an exit when no one has succeeded in this segment so far?
How do you plan to grow your company to reach XYZ valuation (typically x30 from the current round)?

💡 Pro Tip:
Even if an exit isn’t immediate, having a clear strategic vision is crucial. Show that you understand industry trends, M&A opportunities, and potential acquisition targets. Back up your answers with real examples of similar companies that have successfully exited.

📝 Sample Answer:

Q: Who could be a potential buyer?

“Looking at recent acquisitions in our sector, potential acquirers include Salesforce, HubSpot, and Google, all of which have made major investments in AI-driven workflow automation. In the last two years, they’ve acquired companies at 10–15x revenue multiples. We’re positioning ourselves as an attractive acquisition target within the next 4–5 years.”

5. Founders

Investors want to assess the commitment, vision, and leadership style of the founding team. They look for founders who are fully dedicated, have a clear long-term plan, and are building a strong company culture.

Key Questions VCs Might Ask:

What is the time commitment of each founder?
What is the founders' salary (including benefits, cars, etc.)?
What is your background?
What is your end-game?
Do you want to sell the company, and if so, when?
When and how did you meet?
How long have you been working together?
Are you willing to lower your salary at least until the next round or correlate it with the MRR?
How long do you want to stay in the company?
What do you want to achieve with the company?
How do you want to manage people?
How do you motivate your team?
List the top 3 features of the organizational culture you want to build.
List the top 3 characteristics of people who achieve success in business.
List the top 3 ways to build authority.
List the top 3 components of a good manager.
What is the result of a manager’s work?
How do you divide tasks among each other?

💡 Pro Tip:
Investors favor founders who are fully committed and have a clear long-term vision. If you’re taking a low salary, or if it’s high, justify it with market comparisons. If you have co-founders, show how your strengths complement each other.

📝 Sample Answer:

Q: What is your background?

“I have 8 years of experience in enterprise SaaS, with a focus on product management and growth strategy. Before founding this company, I worked at XYZ Corp, where I helped grow their ARR from $2M to $10M in two years. My co-founder, Alex, has a PhD in machine learning and was the lead engineer at ABC Tech, where he built a recommendation engine that boosted customer retention by 30%.”

6. Cap Table

Investors need to ensure there’s a clear and fair ownership structure to avoid conflicts down the road. A well-structured cap table ensures alignment among founders, employees, and investors, and minimizes dilution issues.

Key Questions VCs Might Ask:

What is the ownership structure?
Is there an ESOP (Employee Stock Ownership Plan)?
Who are the investors, and when and how much have they invested?
How did you acquire your current investors?
To what extent are the current investors active?
What will the ownership structure be as of the transaction date?

💡 Pro Tip:
Investors prefer a clean cap table. Having an ESOP is a positive indicator that you’re committed to retaining top talent. Be ready to explain any complex ownership structures or dilution scenarios.

📝 Sample Answer:

Q: Do you have an ESOP?

“Yes, we have a 10% ESOP reserved for key hires and early team members. We’ve allocated 4% to current employees, and the remaining 6% is set aside for future hires. This ensures we can continue to attract top talent without excessively diluting founders or investors.”

7. Market & Competition

Investors want to know about the competitive landscape and your company’s differentiation. They need to understand if your product has a sustainable competitive advantage and if the market size is large enough to support significant growth.

Key Questions VCs Might Ask:

Who are your local, regional, and global competitors?
Please provide a detailed comparison to your competitors.
Who are your competitors in Europe and globally?
Do you have a detailed analysis of the competition in the US?
Why is your solution better than XYZ?
Why did you omit X, Y, and Z companies in your competition analysis?
What are the entry barriers?
How has the pandemic affected your market, and what will happen after the pandemic?
There are many similar solutions on the market, so what’s the difference?
It will be difficult for you to build an advantage over the long term, so how do you plan to approach it?
What is the value of the system for a customer who already uses a similar tool?
What is the competitive environment?
Which of your competitors has recently fundraised, in what amount, from whom, and at what valuation?
Large corporations use legacy systems, so why would they need your system?
How did you define the size of the market?
What are your TAM, SAM, and SOM, and how did you calculate them?
What are your advantages?
What are the entry barriers for foreign competition?
Is the market ready for this type of solution?
Which market is the most promising?
What about traditional competition?
How fast does the market grow?
What share do you have in key markets?
To what extent are Microsoft, Google, or Amazon your competitors?
Who prepared the competition comparison?
What competition are you comparing yourself to?
How do we compare in terms of prices?
Do you know the valuations at which other companies in the industry were acquired (multipliers)?
Do you see any opportunities for yourself based on the analysis of competitors’ business models?
Who is your most significant competitor?
Will companies X, Y, or Z enter this business?

💡 Pro Tip:
Investors love data-driven market analysis. Show the size of your market using TAM, SAM, and SOM figures. Highlight how your approach is innovative and more competitive than existing solutions.

📝 Sample Answer:

Q: What are your TAM, SAM, and SOM, and how did you calculate them?

“We estimate our Total Addressable Market (TAM) at $10B globally, based on industry reports from Gartner and Forrester. Our Serviceable Available Market (SAM) is $2B, focusing on mid-sized enterprises in North America and Europe. Our Serviceable Obtainable Market (SOM) is $250M, with a target to capture 5% of SAM in the next three years through direct sales and strategic partnerships.”

8. Finance & Metrics

Investors examine financial metrics to understand your revenue growth, profitability, and scalability. They want to be sure that your business model is sustainable and that your projections are achievable.

Key Questions VCs Might Ask:

What is the amount of revenue for the last year?
What is the revenue forecast for the current year?
What’s the explanation for the high volatility in revenues?
How do you calculate MRR (Monthly Recurring Revenue)?
How do you calculate churn?
How many customers extend their contracts?
How do you calculate CAC (Customer Acquisition Cost)?
Do you have any overdue receivables?
How do VAT settlements affect cash flow?
How do you calculate the costs of entering a new market?
Do you have any company-owned vehicles?
How do you track system usage?
How frequently do users log in?
What are your monthly costs?
How do you plan to increase LTV (Lifetime Value) and ARPA (Average Revenue per Account)?
What are the main reasons for churn?
What is your ACV (Annual Contract Value)?
What is the average contract duration?
How much did you spend on creating the system?
What are the system usage metrics by users (i.e., how often, how much time, which modules)?
How many clients do you have, and how many prospects are you currently talking to?
How much revenue is generated by SaaS vs. services/implementations?
What are your revenue streams?
What is the cost structure?
How do you define an active user?
Why is MAU (Monthly Active Users) 50% of registered users?
What is the average number of logins per user?
When will you reach BEP (Break-even Point)?
Is LTV calculated after deducting the distributors’ margin?
On what assumptions have you prepared the forecasts?
Why is your MRR changing this way?
What is your cash burn?
Aren’t your marketing expenses too low?
What MRR do you expect at the end of this year?
Which customers pay the most?
What is the average ticket per client?
What is the geographic distribution of revenues?

💡 Pro Tip:
Investors look for predictable revenue models and strong unit economics. Make sure your answers showcase clear growth trends, efficient capital allocation, and strong financial metrics like CAC, LTV, and gross margins.

📝 Sample Answer:

Q: How do you count MRR?

“Our Monthly Recurring Revenue (MRR) is calculated based on active subscription contracts at the end of each month, excluding one-time setup fees. As of last month, our MRR is $175K, growing at 12% month-over-month, with an average contract value of $9K annually.”

9. Product

Investors want to know what makes your product unique, how it works, and how you plan to improve it. They also want evidence that your customers love it and that it can grow without major technical hurdles.

Key Questions VCs Might Ask:

Can you provide access to the demo?
Can we schedule a meeting to walk through the product?
What languages is the system available in?
What makes your product unique?
What features do customers use the most?
What’s your plan for improving the product?
Does your product have any technical limitations?
How do you collect feedback from customers?
Do you plan to launch a mobile app?
Did you build the entire system yourself or use third-party tools?
Does your product use AI or machine learning? If so, why?
Does your system require customers to integrate with other software?
What technology is your product built on?
Do you own all of the technology behind your product?
What security measures do you have in place?
How quickly can a customer start using your product?
Where do you see your product in the next few years?
How long does it take to set up your system for a new customer?
What are the most important improvements you plan to make?

💡 Pro Tip:
Don’t just talk about features — focus on how your product helps customers. If your product stands out, explain it in simple terms with real-world examples.

📝 Sample Answer:

Q: What’s your plan for improving the product?

“In the next 6 months, we’ll be adding features that our customers have requested most. We’ll improve collaboration with shared project boards, enhance the mobile version for the 30% of customers who use it, and launch a reporting tool to help users track progress. Our goal is to improve customer satisfaction by at least 20%.”

10. Sales & Marketing

Investors want to understand your customer acquisition strategy, how scalable your sales model is, and whether your marketing efforts are aligned with long-term growth.

Key Questions VCs Might Ask:

How do you acquire leads?
What is the pricing?
Who is the contact person on the client side?
Can you provide several reference contacts for your clients?
What is the size of the sales team?
Why do clients not extend their contracts?
How do you plan to sell outside of Poland?
How much of your sales come from Poland, and how much from abroad?
Why do customers buy your solution?
How do you plan to further develop sales in Poland and abroad?
Do you have a pre-selection of partners abroad?
Are you planning to change the pricing in the near future?
Why do you want to sell abroad?
Are there any other verticals on which you want to focus?
What causes customers to extend their subscriptions?
Do customers pay monthly or annually?
How many sales have been generated through the founders' network?
What does the sales funnel look like?
What is your business model?
How do you monetize?
Have the clients used a different solution before?
What is your idea for international sales?
How do you plan to scale 10x internationally?
What does the sales process look like?
What does the implementation look like?
What percentage do you sell online vs offline?
Who is the decision-maker for your customers?
What has already been done in terms of scaling abroad?
Do you have any indirect sales channels?
Who are your customers, and what are their characteristics?
Does your pricing depend on the number of users?
How do you want to sell to smaller businesses?
Do you also want to enter the B2C market?
What is your sales strategy?
How do you reach your customers?
Who are your partners?
Is the sales and implementation process completely online?
Does the customer pay for implementation separately?
How long is the sales process?
What does onboarding look like?
Who generates leads?
Is your solution applicable to smaller companies?
What does pricing depend on?
Who is your target customer (persona)?
How easy is onboarding?
What are the obstacles to international scaling?
How do you deal with selling to corporations that use pre-approved vendors?
How has the sales funnel changed since our first meeting?
Do you sell mainly to corporations or small businesses?
How did you decide which markets to expand into?
Which markets are you focusing on?
Why the focus on the XYZ market/region?
How quickly do you want to increase your sales?
Why don’t you sell in country XYZ?
How important are partners for entering the next market?
Are contracts with partners exclusive?
Do partners sell other products alongside your solution?
What is the sales cycle?
How many leads and sales per month does one salesperson generate?
What will drive growth in the near future?
To what extent are sales seasonal?
Where do you find leads for international clients?
What motivates customers to use your system?
How scalable is your company?
What is the time from signing a contract to going live?
Is your system dedicated to a specific industry?
What is your plan for sales and distribution?
Why did client XYZ choose you?
What industry are you focusing on?
In two years, you plan to increase sales 3x — why so slow?
Who is your best customer, and why?
How flexible is your pricing?
How do you plan to sell abroad?
How do you predict sales by industry in a few years?
What are customers’ biggest concerns about your system?
How do you measure customer success?
What are the key customer metrics you track?
How do you settle accounts with partners?

💡 Pro Tip:
Investors value predictable and scalable sales models. Be clear about how you acquire leads, conversion rates, and customer retention strategies. If you’re expanding internationally, explain how you’re adjusting pricing, marketing, and partnerships for new markets.

📝 Sample Answer:

Q: How do you acquire leads?

“We generate 60% of our leads through inbound channels like content marketing, SEO, and webinars. The other 40% comes from outbound strategies, with our sales team targeting specific industries through LinkedIn outreach and cold emails. Our cost per lead (CPL) is $50, and our conversion rate from lead to paying customer is 7%.”

Final Thoughts

Investors ask these questions to better understand your business and assess its potential. By preparing clear and thoughtful answers, you’ll be able to present your company more effectively and build trust with potential investors. Use this list as a guide to get ready for your pitch, and good luck!