MESH Pitch Deck Teardown: How to Attract Investors

Introduction and Context

The presentation titled "How to Attract and Convince Investors" by Erling Løken Andersen is a hybrid document. It functions as both an educational guide for entrepreneurs in the Nordic ecosystem and a specific pitch for MESH, an Oslo-based innovation hub. Published around 2014, the deck provides a snapshot of the venture capital landscape in Norway and Sweden at that time, while offering a structured framework for building a pitch deck.

Slide 1: Title and Author

The opening slide features a still from the film The Wolf of Wall Street , setting a provocative tone with the subtitle: "then Convince Them You're Not A Loser." The author is identified as Erling Løken Andersen, associated with MESH, Omega Media, and Listnerd, Inc. This slide establishes the dual nature of the presentation—part performance, part business case.

Slide 2: MESH Overview

This slide answers the question "Where are we?" by introducing MESH as Oslo's premiere innovation hub. It lists key metrics: 150 entrepreneurs, 90 companies, and 25 nationalities. It notes the founders (Audun Ueland and Anders Hordvei Mjåset) and the founding year (2012). Crucially, it includes a price point: coworking memberships starting from 1.190 kr / month. This is a rare example of a pitch deck including entry-level pricing on an introductory slide.

Slide 3: Types of Investors

The presentation shifts to educational content, categorizing investors into four quadrants: Private investors (Angels, FFF, Crowdfunding), Company investors (Financial, Industrial, Accelerators), Government grants (Grants, Loans, Incubators), and Own funds (Savings, Loans). This serves to frame the subsequent advice within the broader funding ecosystem.

Slide 4: The Nordic VC Landscape

This slide is a valuable resource for regional founders, displaying the logos of 16 Nordic venture capital firms. Mentioned firms include Northzone, Creandum, Alliance Venture, Investinor, Sunstone Capital, and Open Ocean. By including this, the author demonstrates deep local market knowledge and provides a roadmap for where a company like MESH might seek institutional capital.

Slide 5: Intermission

A simple blue slide with the word "Questions?" serves as a transition point. In a 61-slide deck, these breaks are necessary to maintain audience engagement, though they provide no data for the teardown.

Slide 6: Investor Psychology

Under the heading "What do investors look for?", the slide argues that investors prioritize a "good business opportunity" over a "good idea." It cites execution as the primary driver of profit. It uses logos of established Norwegian brands like Nille, Dagbladet, Skeidar, and Uno X to illustrate that execution, rather than radical innovation, often leads to market dominance. It explicitly states that Skeidar has "nothing" as a differentiator other than being "well run."

Slide 7-8: The Pitch Framework

Slide 7 introduces the "High-concept pitch," followed by Slide 9, which lists "The 13 slide pitch" structure. This list is a standard industry template: Opening, Problem, Team, Market, Solution, Business Model, Strategic Relationships, Competition, Barriers to Entry, Traction, Financial Overview, Use of Proceeds, and Capital Request. The inclusion of "Barriers to Entry" as a standalone slide (Slide 9) is a notable addition to the standard Sequoia-style deck.

Slide 10: The Problem (MESH Case Study)

The deck then applies its own 13-slide framework to MESH. The problem is defined by four points: expensive offices in Oslo, long-term contracts (12-36 months), large up-front fees, and the capital constraints of startups. This is a classic "pain point" slide that uses local market friction to justify the business's existence.

Slide 11: The Solution (MESH Case Study)

The solution slide describes MESH as a 2,500 sq. m. hub housing 150+ entrepreneurs. It details the physical assets: 14 offices, event space, a night club, and a café. The photos show a modern, collaborative environment, reinforcing the "creative environment" mentioned in the text.

Slide 12: Competitive Landscape

This is one of the strongest slides in the deck. It provides a table comparing MESH to five competitors: Regus Norge AS, Workhouse, Startup Lab, 657 Norge, and Gründernes Hus. For each, it lists a "Niché," "Est. yearly revenue," and "Profit." For example, it lists Regus at 55m NOK revenue and 9.5m NOK profit. MESH is listed at 15m NOK revenue and 1.0m NOK profit. This level of transparency regarding competitor financials is rarely seen in public pitch decks.

Slide 13: Financial Overview

The financial table provides a five-year projection from 2014 to 2018. It shows Income growing from 15m to 40m, Expenses growing from 14m to 32m, and Profits scaling from 1.0m to 8.0m. The doubling of the profit margin (from ~6.6% to 20%) suggests a business model that benefits significantly from increased occupancy or higher-margin services like events and the nightclub.

Slide 14: The High-Concept Pitch

The MESH pitch concludes with the high-concept tagline: "AIRBNB FOR STARTUPS." This uses a familiar successful model to explain a new one, a common tactic to reduce cognitive load for investors. It also includes contact information for Erling Løken Andersen, titled "Head of Coworking & Partner Relations."

Slide 15-16: Venture Funding Hacks

The deck returns to educational content. Slide 15 uses Dropbox as a case study for building traction before a product launch, noting their waiting list grew from 5,000 to 75,000 after a demo video. Slide 16 offers the counter-intuitive advice: "Do not ask for money... or wait as long as possible," suggesting that leverage increases with time and traction.

Slide 17-18: Accelerators and Math

Slide 17 compares Plug and Play (Silicon Valley) with TiNC (a Norwegian incubator). It notes Plug and Play takes a 4% stake for a $20k investment. Slide 18 breaks down the math of these investments, showing how a single $1b unicorn valuation ($40m in value for a 4% stake) can offset 90 total failures in a 100-company portfolio.

Slide 19-21: Approaching Investors

Slide 19 features a quote from Chris Wand regarding the power of warm introductions. Slide 20 provides a list of "Do's and Don'ts." Key advice includes setting up an AngelList profile and avoiding cold calls. The final slide (Slide 21) provides the author's social media handles, including LinkedIn and Twitter (@stormen).

What Works Well

Competitive Transparency: Slide 12 is exceptional. Most founders hide competitor revenue; Andersen puts it front and center, which builds immediate credibility with investors who likely already know these numbers. · Local Context: By listing specific Nordic VCs (Slide 4) and specific Oslo real estate problems (Slide 10), the deck feels grounded in reality rather than theoretical. · The 13-Slide Template: Providing a clear, numbered list of what an investor expects (Slide 9) makes the presentation highly actionable for the audience. · Unit Economics: The pricing on Slide 2 and the profit projections on Slide 13 provide a clear picture of the business's financial health and scalability.

What Is Missing

Detailed Team Slide: While the founders are mentioned on Slide 2, there is no dedicated slide detailing the team's background, previous exits, or specific expertise in real estate or hospitality. · Use of Proceeds: Although "Use of Proceeds" is listed in the 13-slide template on Slide 9, there is no corresponding slide in this selection showing how MESH intended to spend the capital it was raising. · Market Size (TAM/SAM/SOM): The deck focuses on the problem in Oslo but does not quantify the total addressable market for coworking in the Nordics or Europe. · Traction Details: Beyond the number of entrepreneurs and companies, there is no data on churn rates, occupancy percentages, or event booking growth.

What a Founder Should Copy

The Competitor Table: Founders should emulate the layout of Slide 12. Identifying competitors by niche and estimating their revenue shows that you have done deep market research. · The High-Concept Pitch: Using the "X for Y" formula (Slide 14) is an effective way to close a pitch, ensuring the investor leaves with a clear, one-sentence summary of the business. · The Problem/Solution Alignment: MESH does a great job of making the problem (long contracts, high fees) directly solved by their offering (flexible memberships, lower costs). · The Financial Grid: The simple, clean table on Slide 13 is much easier to read than complex charts. It tells a clear story of revenue growth and margin expansion.