PitchLens

What Antler looks for in a pitch deck

Antler is a 'day zero' global investor that backs exceptional individuals at the point of inception — often before they have a co-founder, an idea, or any traction. Through a residency model in 27 cities, Antler observes founders' execution over roughly 10 weeks, then writes the first check and commits to backing companies from pre-seed to Series C and beyond. The firm's core conviction is that if you get the founder right, the rest can follow — so the deck must sell vision, narrative, and team over hard data.

Stage focus: pre-seed, seed · Sectors: ai, saas, fintech, deeptech, biotech, consumer, marketplaces, climate

What Antler wants on each slide

Problem

A problem defined crisply within the first slide or two, framed as a relatable narrative rather than abstract market language — the start of an 'irrefutable narrative' grounded in real observation.

“Within the first slide or two, you want to define the problem that you'll be looking to solve.” — How To Build A Winning Pre-Seed Pitch Deck
“If you can't explain it simply, you don't understand it well enough.” — Guillaume Ang

Solution

A solution that connects clearly and relatably back to the stated problem; even without a working build, show a designed product flow so investors can picture it.

“The solution needs to connect to the problem in a clear and relatable way.” — How To Build A Winning Pre-Seed Pitch Deck
“Have a designer mock-up a design flow.” — Ryo Umezawa

Market size

Less about a headline TAM number and more about proof the opportunity is real — research-backed TAM/SAM plus third-party validation that the problem is worth solving.

“You do, however, need a lot of proof.” — How To Build A Winning Pre-Seed Pitch Deck
“Getting some industry leaders on record for saying how a solution to the problem would be valued is one option.” — Ryo Umezawa

Traction

Early proof of demand rather than revenue — proof of concept, design-partner validation, and any evidence the market is responding. At pre-seed, vision and team outweigh hard traction data.

“Getting some industry leaders on record for saying how a solution to the problem would be valued is one option.” — How To Build A Winning Pre-Seed Pitch Deck
“Tell the right story.” — Guillaume Ang

Team

The decisive dimension. Antler bets on people first — they want vision, charisma, and 'founder DNA' (relentless execution, creative problem-solving under pressure, grit, and an insatiable inner drive), evaluated over weeks of residency rather than a single pitch.

“They want to see the next Steve Jobs, Elon Musk, or Mike Cannon-Brookes. They want to see vision and charisma.” — How To Build A Winning Pre-Seed Pitch Deck
“The ability to maintain focus, drive, and motivation, even when faced with significant roadblocks, failures, and uncertainty.” — Founder DNA: Traits of Great Entrepreneurs
“Great founders have an insatiable inner drive to succeed no matter what. These people set ambitious goals and work relentlessly to reach them.” — Founder DNA: Traits of Great Entrepreneurs
“The ability to turn ideas into tangible business building blocks at pace on a week-by-week basis over a sustained period.” — Founder DNA: Traits of Great Entrepreneurs

Business model

A clear revenue model and pricing, with reasoning for why your pricing approach beats a traditional model for this business.

“The next slide should focus on two things: the revenue model that the company will follow, as well as the pricing.” — How To Build A Winning Pre-Seed Pitch Deck
“The solution needs to connect to the problem in a clear and relatable way.” — Ryo Umezawa

Competition

A rigorous competitive view — ideally a full SWOT per competitor — that makes your point of difference unmistakable. Antler wants founders who genuinely understand their landscape.

“The best way to show this is to include the full SWOT analysis that you would have written up for each competitor.” — How To Build A Winning Pre-Seed Pitch Deck
“Within the first slide or two, you want to define the problem that you'll be looking to solve.” — Ryo Umezawa

Why now

A clear timing case — why this is the moment. Antler treats 'why now' as near-mandatory, and frames AI as the current unlock that lets founders solve previously unsolvable problems.

“92% of successful decks worldwide have a 'why now?' section.” — How To Build A Winning Pre-Seed Pitch Deck

The ask

A realistic financial picture and roadmap — an educated estimate of what the business can achieve, with milestones that are credible rather than over-promised.

“The financial slide should include a realistic, educated estimate of what the business can achieve within its vision.” — How To Build A Winning Pre-Seed Pitch Deck
“Be realistic, and not promise a launched app within the span of weeks.” — Ryo Umezawa

What Antler rewards and penalizes

What excites Antler

  • Founders with relentless 'founder DNA' — execution at pace, creative problem-solving under pressure, grit, and an insatiable inner drive
  • A clear, simple, irrefutable narrative that an investor can re-tell after one read
  • A strong 'why now' tied to a real shift (especially AI unlocking previously unsolvable problems)
  • Vision and charisma — founders who could plausibly become category-defining outliers
  • Deep domain expertise or a distinctive 'spike' that makes the founder the right person for this problem

Watch-outs for Antler

  • A polished deck with no narrative — slides that don't tell a coherent story
  • Big TAM numbers with no proof or third-party validation behind them
  • An over-promised roadmap (e.g. claiming a launched product within weeks)
  • Weak competitive understanding — no rigorous view of rivals or point of difference
  • Hedged, low-conviction founders who talk about ambition but don't execute at pace

Who decides at Antler

Magnus Grimeland — Founder & CEO
“With the transition to AI, the growth in global innovation is accelerating at unprecedented speed and across more regions than ever.”
Ryo Umezawa — Venture Partner
“92% of successful decks worldwide have a 'why now?' section.”
Guillaume Ang — Antler (pitch coaching)
“If you can't explain it simply, you don't understand it well enough.”

What Antler actually backs

Where Antler is thinking now

Antler's published guidance

Benchmark your deck against Antler →

PitchLens grades your deck slide-by-slide against Antler's own published playbook, with a citation on every point.

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