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24 Apr 2025
Securing venture capital can be a transformative moment for a deep tech business — but only if you're ready for it. Peter Smith, Partner at EverQuest Capital Partners, shares what investors are genuinely looking for when they assess a business, and how you can put yourself in the strongest possible position before you start those conversations.
What makes a business investible?
At its core, an investible business is one with a scalable model and the potential to generate substantial financial returns. But that's just the starting point. Beyond growth potential, there are a handful of factors that will determine whether an investor backs you or passes — and understanding them early could save you significant time and energy.
Not every business will tick every box, but the more of these criteria you can demonstrate, the better your chances of securing funding.
1. A growing market with an unmet need
Investors want to see clear evidence that you're addressing a real, growing problem — not a theoretical one. That means being able to answer some hard questions: How large is your addressable market, and how much of it can you realistically capture? Is the market expanding year on year? What barriers to entry exist, and how will you overcome them? Are there regulatory hurdles, and do you have a credible plan to navigate them?
Beyond the data, it also helps to demonstrate that the right people believe in what you're doing. Engaging with key stakeholders in your sector, securing expert endorsements, or aligning your offering with government policy can all signal to investors that you genuinely understand the landscape — and that the market is ready for your solution.
2. The right team
If there's one factor that investors weigh above all others, it's the people. Ideally, your leadership team should include at least one person who has taken a business through scaling and commercialisation with outside investment before — someone who understands what growth really looks like from the inside, knows how to build investor relationships, and has navigated the inevitable challenges that come with the journey.
But it's not just about the leader. Investors will assess the entire team: whether they collectively understand the technology, the market, and the growth opportunity, and whether they're genuinely unified around a common goal. A well-rounded, capable team that works well together is one of the most compelling things you can present to a potential investor.
3. A watertight business plan and pitch deck
Your business plan and pitch deck are your opportunity to demonstrate that you know your business inside out — its place in the market, its growth trajectory, and the financial logic underpinning it all. Investors will expect clarity on how much capital you're seeking, exactly how it will be deployed, and what return they can expect in return.
You'll also need a clear five-year roadmap that outlines both your technical and commercial development milestones. Vague projections won't cut it. The more precisely you can articulate your path from where you are now to where you're going, the more confidence investors will have in your ability to get there.
4. A genuinely innovative product with a clear USP
Investors aren't looking for incremental improvements on existing products. They want innovation that makes them stop and take notice — something that meaningfully sets you apart from everything else in the market. At EverQuest Capital Partners, we're particularly focused on businesses developing deep tech solutions in sustainability, renewable materials, and advanced manufacturing, but the principle applies across sectors: your product needs a strong, defensible unique selling point.
Equally important is demonstrating staying power. Investors are backing businesses for the long term, so you need to be able to show not just what makes you different today, but how you'll continue to innovate and deliver returns in the years ahead.
5. Proof of concept
Ideas matter, but investors need to see evidence that yours actually works. Depending on where you are in your development journey, proof of concept can take many forms — early-stage test results validating safety or efficacy, data from grant-funded research, validation from potential customers or large corporates, participation in a credible accelerator programme, or initial backing from angel investors or early-stage VCs.
Whatever form it takes, being able to demonstrate that your technology or product works in practice — not just in theory — will significantly strengthen your position when you walk into an investor meeting.
Ready to start the conversation?
If you're working on something innovative in deep tech, sustainability, or advanced manufacturing and want to understand whether your business might be a fit for EverQuest Capital Partners, we'd love to hear from you.