Deal Flow

Definition

Deal flow is the stream of investment opportunities an investor sees: the startups pitching, referred, or discovered in a given period.

Funds compete on deal flow quality; for founders, understanding it explains investor behavior, like fast passes on companies outside their thesis.

How many deals does a VC see versus fund?

A typical fund reviews thousands of companies a year and invests in a few dozen at most, which is why tight targeting beats volume pitching.

How do I get into an investor’s deal flow?

Direct outreach that matches their thesis, referrals from their portfolio founders, and visibility in their sector all work.

Definitions win negotiations only when you are in one. Find the investors who fund your stage and start the conversation.