The Art of Choosing the Right Investor
Navigating the Stormy Seas of Venture Capital
Miriam Shtilman brings a wealth of experience to her role at Tal Ventures, an early-stage venture capital firm. Having grown a healthcare informatics startup from a garage setup to a $400M company, she now uses her expertise to identify and support the next generation of innovators. In a conversation with our host James on Tech Salescraft, Miriam shared her insights into the challenges and opportunities in today’s venture capital landscape.
A Shifting Market for Startups
The post-pandemic surge in unicorn startups—companies valued at over $1 billion—brought a golden age of easy credit and exuberant valuations. Yet, as economic conditions tightened, this frenzy gave way to a more cautious era. Miriam notes how today’s startups face a starkly different environment:
“Raising capital now isn’t about painting a vision; it’s about proving traction, demonstrating discipline, and showing how every dollar will grow the business.”
This shift means startups must now work harder to earn investor confidence, with thorough preparation and clear articulation of their value propositions.
Choosing the Right Partners
For startups, finding the right VC isn’t just about securing funding—it’s about building a relationship with a partner who aligns with their goals and stage of growth. Miriam emphasises the importance of alignment, urging early-stage founders to seek VCs who have fresh funds to deploy and expertise in relevant industries.
“A top-tier VC can do more than write a check—they can open doors, provide guidance, and even connect you with your first customers,” Miriam shares. At Tal Ventures, for example, the team actively leverages its network to help portfolio companies secure crucial partnerships and pilot programs.
Spotlighting CEOs and Sales Teams
When evaluating startups, Miriam is particularly interested in the dynamics of the leadership team. A strong CEO must inspire confidence, both within the organisation and to external stakeholders. Equally important is the sales team, which Miriam views as the engine of growth for startups.
“If the CEO isn’t presenting their own vision clearly, it’s a red flag,” Miriam explains. Similarly, she highlights the importance of building sales powerhouses early on, as these teams are the key to scaling effectively and impressing future investors.
The Future of Venture Capital
Despite a challenging environment, Miriam remains optimistic. The best founders, she believes, adapt and thrive during periods of adversity. Tal Ventures continues to evaluate a wide range of opportunities, from pre-Series A to later-stage companies, ensuring they stay ahead of market trends.
For startups navigating these turbulent waters, her advice is simple: focus on fundamentals, build strong teams, and align with VCs who believe in your vision. The path to success might be harder to climb today, but with the right partnerships, it’s far from impossible.
Want to learn more about Miriam’s thoughts on the venture capital world and the startups she supports? Catch the full episode on Tech Salescraft.