What VCs really ask in interviews

Hi! I’m glad you’re here. You’ve made it to issue #51 of VC Demystified🪄.

My name’s Nicole - I’m a Principal at an early stage venture fund, and I know firsthand that VC can often be a black box. Breaking into the industry may feel daunting and resources can seem scarce and inaccessible. I wanted to put together a newsletter to give others the playbook I wish I had when I first started.

Today’s deep dive: A behind-the-scenes look at 20 questions VCs may ask you in interviews

^{My personal mission is to open as many doors as possible for other people and this newsletter is just one avenue to do that. As always, I will continue to post VC insights daily for free across my socials.}

Read time: 5 minutes

A behind-the-scenes look at 20 questions VCs may ask you in interviews

It’s not about having the right answer - it’s about having a clear point of view.

VC interviews often feel casual - just a coffee chat or a quick Zoom with a partner. But beneath the surface, they’re testing how you think, what you know, and how you’d operate on the job.

Here are 20 real VC interview questions broken down by category, with what each section is actually testing and how you can stand out.

Investment Judgment

What’s being tested: Can you think like an investor? Do you have conviction and a point of view?

How to stand out: Pick companies you genuinely like, not just buzzy names. Make a case that’s clear, well-reasoned, and shows how you think about risk.

• Pitch me a startup you’d invest in. Why now?

• What’s a company you think is over-valued?

• How do you think about risk at the early stage?

• What’s a founder trait you think is underrated?

• How do you know if a startup has venture scale potential?

Business Models & Metrics

What’s being tested: Do you understand how businesses work under the hood? Can you assess traction and business model viability?

How to stand out: Know the different types of business models (SaaS, transactional, DTC, etc.) at a high level. Be bale to speak about the pros and cons of them.

• How big is the market for [X startup]?

• What KPI would you care about most for [X startup]?

• Walk me through how you’d evaluate the business model of [X startup].

• What’s a CAC to LTV ratio and how do you calculate it?

• How do you know when a startup is ready to raise Series A?

Ecosystem Awareness

What’s being tested: Are you paying attention to the ecosystem? Can you identify what’s emerging and what’s hype?

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