What Defy Partners looks for in a pitch deck

Problem

A big, urgent problem in a market the founder knows better than anyone; Defy weights the importance of the problem over category fit and explicitly avoids hype-driven ideas.

“We are passionate about investing in authentic entrepreneurs, a phrase we use to describe founders who know their industry better than anyone, who are solving big urgent problems.” — Defy Closes Oversubscribed $262 Million Fund to Invest in Early Stage Entrepreneurs

“the people that really, really understand the motivations and desires and constraints of their end user” — Medha Agarwal

“chasing hype is not our style” — defy vc — Early Stage Venture Capital To Defy Expectations

Solution

Leading-edge technology applied to create real business leverage; in AI, a verticalized solution that plugs into a customer's data and workflow, not a generic out-of-the-box tool.

“founders who know their market better than anyone—who are solving important problems using leading-edge technology to create real business leverage.” — Defy Closes Oversubscribed $262 Million Fund to Invest in Early Stage Entrepreneurs

“I'm seeing that more and more frequently with these verticalized software companies, which I actually think creates defensibility” — Medha Agarwal

Market size

Markets undergoing disruption and underserved opportunities; for AI, the prize is large labor budgets, not just incremental software spend.

“there's now an opportunity for verticalized software companies to tap into labor budgets, which are enormous...versus just going after traditional software spend” — The Full Ratchet #483: AI Revenue-Model Transformation, Building an AI Moat (Medha Agarwal)

“founders who know their industry better than anyone, who are solving big urgent problems” — Neil Sequeira

Traction

Evidence the founder is working with real customers to find the right path; Defy invests at seed-plus/A-minus, so early proof of customer pull matters more than mature metrics.

“you have to listen to your entrepreneurs...respect what your entrepreneur wants long term” — The Full Ratchet #281: Letting the Entrepreneur Be the Guide, and Defy's Sage Program (Neil Sequeira)

“stubborn about vision open minded about the journey” — Neil Sequeira

“you have to help someone dream the dream in order to sign them up, because the value is not going to be very clear on day one” — Medha Agarwal

Team

Authentic founders who know their industry better than anyone; people-first leaders who hire A-players, are stubborn about vision but open-minded about the journey, and listen to customers.

“success hinges on the extraordinary people who make it happen—our team, investors, and entrepreneurs.” — Neil Sequeira — defy vc

“people hire other A or A plus people, and I think B people hire C people” — Medha Agarwal

“the ones who hustle, work hard, and you know, have a clear vision for what they're building” — Neil Sequeira

Business model

Technology that creates real business leverage; in AI, a model that captures value beyond software spend by tapping enormous labor budgets, paired with a thoughtful go-to-market.

“the potential for revenue from any single customer is so much greater than if you were just...seeing it as software spend” — The Full Ratchet #483: AI Revenue-Model Transformation, Building an AI Moat (Medha Agarwal)

“solving important problems using leading-edge technology to create real business leverage.” — Trae Vassallo

Competition

A defensible position — in AI/vertical software, defensibility built from deep integrations with a customer's systems, training on their data, and a thoughtful go-to-market that competitors can't easily copy.

“it's often the best products combined with the most thoughtful go to market that wins” — The Full Ratchet #483: AI Revenue-Model Transformation, Building an AI Moat (Medha Agarwal)

“there have to be integrations with your EMR and other internal systems, there's some training on your data and your process for it to be valuable...I'm seeing that more and more frequently with these verticalized software companies, which I actually think creates defensibility” — Medha Agarwal

Why now

A genuine technology or market shift — e.g. AI being applied to verticalized software and the arrival of agents — that makes the opportunity newly possible, rather than hype.

“the advent of AI being applied to vertically software” — The Full Ratchet #483: AI Revenue-Model Transformation, Building an AI Moat (Medha Agarwal)

“chasing hype is not our style” — defy vc — Early Stage Venture Capital To Defy Expectations

The ask

A round Defy can lead and own meaningfully early ($3M–$10M seed-plus / A-minus), where it adds value as a board member and partner beyond capital; founders should choose investors as carefully as the firm chooses them.

“outsized venture returns have and will always come from having high ownership early in the life cycle of entrepreneurial companies.” — Defy Closes Oversubscribed $262 Million Fund to Invest in Early Stage Entrepreneurs

“Sophisticated entrepreneurs know it's about more than just money.” — Neil Sequeira

“We are passionate about investing in authentic entrepreneurs, a phrase we use to describe founders who know their industry better than anyone, who are solving big urgent problems.”

“the people that really, really understand the motivations and desires and constraints of their end user”

“identifying outstanding entrepreneurs, spearheading new investments, and getting hands-on with our portfolio founders by leveraging my extensive network and experience.”