As you begin your investment journey, you will have conversations where you’ll pitch your value proposition to potential investors. Sometimes these conversations may be “soft pitches” — casual discussions with potential investors in non-investment contexts. Other times, it could be a “hard pitch,” where the conversation is explicitly focused on getting them to invest in your venture.

Regardless of the setting, investors tend to ask similar questions during these initial conversations. Having evaluated thousands of founder applications and spoken to hundreds of founders, we’ve identified a few key questions that investors consistently raise.

Here are some of those questions, along with insights into what investors are really looking for in your responses. Hopefully, this will give you a better understanding of an investor’s mindset and help you present a stronger proposition, increasing your chances of securing investment.

1. Tell me about your story. How did you decide to build this venture?

This may seem like a simple question, but it’s actually a three-in-one query. First, the investor wants to ensure that you have a relevant background for what you’re building. Second, they want to gauge your commitment—there should be a logical, coherent (and ideally compelling) reason behind why you chose to start this venture. Lastly, they want to get a sense of who you are. Investors often invest in people they feel connected to, so this is a prime opportunity to build rapport. Use this moment to share your passion, purpose, and personality, as it’s as much about connecting with you as it is about your business idea.

2. What’s the progress so far?

While it’s tempting to simply list all the milestones you’ve achieved, the response investors seek goes beyond just actions. They’re interested in the *speed* of your execution. Highlight how quickly you’ve moved from idea to tangible progress. More importantly, focus on *outcomes* rather than just inputs. Show that your progress has de-risked the startup and offers early indications of success, compelling them to invest sooner rather than later.

Be mindful not to overemphasize product development at the expense of distribution or customer traction. While it might seem logical to highlight product milestones, experienced investors know that distribution and market fit are more telling indicators of success. Always lead with data, results, and how fast you're scaling toward something substantial.

3. Who else is trying to solve this problem, and how are you different?

With this question, the investor wants to see three things. First, they want to confirm that you have a deep understanding of the space you’re operating in and that you know the other players trying to solve the same problem. Second, they’re looking for evidence of a clear gap in the market—one you’re uniquely positioned to fill. Lastly, they want to know that your solution offers a defensible competitive advantage. They’ll want assurance that your unique selling proposition (USP) is difficult to replicate or that replicating it would be too costly or complex for competitors.

In essence, you need to show you’ve done your homework and that your venture has a moat around it, making it harder for others to copy.

4. In ten years, what does this venture look like? What’s your vision?

When answering this question, aim to cover three key areas. First, your ambition should be big enough to justify investment. Investors want to know that you’re thinking on a large enough scale to create a substantial return. Second, your vision needs to be clear and believable. Investors want to be convinced that your solution will have a lasting impact. Lastly, your vision should reflect a well-informed prediction of how the world—or your specific industry—will evolve with your product in it.

Founders with domain expertise often have unique insights into how an industry might evolve over time. If you can articulate that foresight, you’ll appear more credible and forward-thinking.

5. Do you have any questions for me?

The questions you ask the investor can be just as revealing as your answers to their questions. This is your chance to show how much research you’ve done on them and to demonstrate your genuine interest in forming a partnership. It’s also an opportunity to gather information about the investor’s interests and what they might find exciting or concerning about your venture.

Asking thoughtful questions can give you valuable insights into what matters most to the investor, helping you refine your pitch for future conversations. Additionally, well-placed questions can leave a lasting impression, highlighting your curiosity, intelligence, and preparedness.

Final Thoughts:

Hopefully, these insights will help you prepare for the questions most investors will ask in an initial conversation.

If you’re in the early stages of building a technology company, we invite you to join our office hours, where seasoned investors will provide no-holds-barred, direct insight based on thousands of conversations with early-stage founders.

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Feel free to share your feedback if this guide was helpful, and we can provide even more questions investors commonly ask and the answers they’re looking for.

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