For you VC folks, how do you value a company seed stage with no product?

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Gut

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An angel investor I know does this:

1. Take managements “conservative” forecasts (typically five years or so)
2. Discounts it back to NPV
3. Divides it by 10
4. Starts haggling from there

😅

funny

TAM * expected market share * margin (optional) * multiple / discount factor

Obviously I’m not VC, so that’s my wild guess.

Teams previous ability to execute. Their gtm plan. What problem are they solving and does it seem legit. Market size for their solution

The feels

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Hi fishes,
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