When you pitch to a VC, we ask lots of questions, but this is the game that two can play. Here is what you can ask to learn more about your potential partner:
1. What is their source of capital?
2. How do they work with their portfolio companies? Do they practice a hands-on approach or prefer not to participate in day-to-day activities?
3. What is their long-term strategy (Basically, why do they invest? Dividends, exit, or strategic interest and potential acquisition down the road?)
4. What are their check size, preferred stage, and genres? Do they lead or not? Do they participate in follow on rounds?
5. What is the stage of the fund? If the fund is at the beginning of its lifecycle, it could invest more aggressively and make longer shots as they have more time. The closer they are to the end of their fund, the more cautious they will be. And it also would affect their expectation for the exit timeline.
6. Gaming VC specific: Do they play games? What kind of games? What do they do and do not like in games?
7. What do they think about future trends and challenges?
8. What will they do if a crisis in or startup happens?
9. What are they looking for and value in companies and in founders? What are their red flags?
10. What does their decision-making process look like? How much time does it take? How much time the whole deal usually takes?
11. Who will you be dealing with after the deal closing?
12. What is their best investment so far?