Skystar Capital (William Eka) Pitch Deck Teardown

Introduction: The VC as Educator

The UMN Startup Conference presentation by William Eka of Skystar Capital is a unique artifact in the fundraising world. Rather than a standard company pitch, this is a pedagogical tool designed to bridge the gap between student ambition and professional venture capital expectations. The deck serves two masters: it markets Skystar Capital as the premier strategic partner in Indonesia, and it provides a step-by-step manual for constructing a pitch deck that survives a VC's scrutiny.

Slide 1: Title and Compliance

The opening slide establishes the brand identity of Skystar Capital. The logo—a celestial map or astrolabe—suggests navigation and guidance. The tagline, "MAKING AN IMPACT IN INDONESIA," immediately localizes the fund's mission. Crucially, the bottom of the slide contains a standard legal disclaimer stating the document is for informational purposes and not an offer to sell securities. This is a standard but necessary inclusion for any firm operating in the regulated financial space.

Slide 2: The Strategic Value Proposition

Slide 2 defines Skystar Capital's market position. They identify as an "early stage VC fund" focusing on the Asia Pacific region, with a heavy emphasis on Indonesia. The slide highlights their collaborative approach, offering "funding, strategic business consultation, and assistance to establish corporate partnerships." The inclusion of the Kompas Gramedia and Saratoga Capital logos is a power move; it signals to founders that Skystar has the backing of two of Indonesia's most influential conglomerates, providing a level of market access that pure-play financial VCs might lack.

Slide 3: The Investor's Perspective

This slide marks the transition into the educational portion of the deck. It poses the question, "How to create a good Pitch Deck?" and provides a singular, emphatic answer: "Understand what INVESTORS are looking for." This sets the tone for the subsequent slides, which are framed as examples of how to satisfy specific investor requirements.

Slide 4: Problem-Solution and Traction

William Eka uses Gojek as a case study here. The slide is split into two halves. The left side addresses the Problem-Solution dynamic, identifying "Fragmented Ojek Market" and "Safety Issues" as the pain points, with Gojek's platform and screening process as the solutions. The right side is a masterclass in Traction visualization. It displays a four-month window (Oct-15 to Jan-16) where revenue grew from $14,140 to $117,939 . By overlaying 'Units,' 'Revenue,' and 'Marketing' costs, the slide shows that while marketing spend increased from $1,213 to $7,356, the revenue growth significantly outpaced the cost of acquisition, suggesting a healthy, scalable model.

Slide 5: Market Size and Competition

Using Uber as the example, this slide breaks down Market Size through a bottom-up calculation: 26,667 taxis in Jakarta, an 80% operating rate, and a daily income of Rp. 500K, resulting in a $71 Million market size (Jakarta Only) . This teaches founders to avoid vague "trillion-dollar market" claims in favor of defensible, localized data. The Competitive Landscape section uses a standard four-quadrant matrix (Units per Property vs. Innovation) featuring logos like ZipMatch, Lamudi, and OLX , showing how to position a company relative to incumbents.

Slide 6: Exit and Funding Strategy

This slide addresses the 'Why Now' and 'How Much' questions. The Success Stories table lists global comparables like vip.com (USD 3,770 M revenue) and Gilt (USD 700 M revenue) to prove that the business model is "Proven Scalable." On the right, a Fundraising Plan pie chart breaks down the "Cost Composition Indonesia (FY2016 & 2017)." The largest allocations are HR (32.7%) and Fulfilment (29.5%) , which gives investors a clear picture of the company's operational priorities.

Slides 7-8: The Instamojo Case Study - Problem and Product

The deck then shifts to Instamojo to illustrate product simplicity. Slide 7 defines the friction for individuals selling digital creations as being "Time Consuming" and "Costly." Slide 8 responds with a "Sell instantly in 3 simple steps" workflow: Upload, Share, and Sell. The use of actual UI screenshots (even if dated) is a best practice, as it proves the product exists and functions as described.

Slide 9: Founder Credibility

The Team slide for Instamojo focuses on Sampad Swain . Rather than a long list of skills, it focuses on outcomes: Wanamo (Acquired) and dealsandyou (Raised $20M) . This slide teaches founders that for early-stage VCs, past successful exits or significant raises are the strongest indicators of future performance.

Slides 10-11: Market Growth and Unit Economics

Slide 10 uses a simple bar chart to show the Worldwide Digital Goods Market growing from $16 Billion in 2010 to $36 Billion in 2014 , citing JP Morgan and the Wall Street Journal. Slide 11 provides a conceptual graph for Merchant Acquisition Costs . Although it lacks specific dollar amounts on the Y-axis, the downward trend from Oct '12 to Jan '13 is the key takeaway, illustrating the "efficiency" that VCs crave.

Slide 12: The Ask

The fundraising slide is direct. It states a goal of Raising $500,000 with $250,000 Committed . Listing the logos of Google, 500 Startups, Blume Ventures, and Indian Angel Network provides social proof. For a founder, showing that 50% of a round is already filled by reputable names is the most effective way to create FOMO (Fear Of Missing Out) in new investors.

Slide 13-14: Conclusion and Personal Advice

After the standard contact slide (Slide 13), the deck concludes with a bonus slide on Financial Management Tips for students. Featuring a photo of Li-Ka Shing , it suggests a specific budget allocation for a Rp 4jt monthly income. This final slide reinforces the role of the VC as a mentor, not just a source of capital, which is a key part of Skystar's brand building at a university conference.

What Works Well in This Deck

Real-World Benchmarking: By using Gojek and Uber as examples, the deck makes abstract concepts like "traction" and "market size" concrete for the audience. · Strategic Social Proof: The prominent placement of Kompas Gramedia and Saratoga Capital logos immediately establishes Skystar's authority in the Indonesian ecosystem. · Visual Clarity: The charts (specifically Slide 4 and Slide 6) are clean and easy to read, demonstrating how to present complex data without clutter. · The "Committed" Tactic: Slide 12 perfectly illustrates how to present a fundraise by highlighting existing commitments to build momentum.

What is Missing

Specific Unit Economics: While the deck shows "Merchant Acquisition Costs" trending down, it omits the actual LTV (Lifetime Value) or CAC (Customer Acquisition Cost) figures that a real pitch would require. · Detailed Team Slide: The deck only features one founder (Sampad Swain) as an example. A real pitch deck would need to show the full founding team and their complementary skills. · Technology/IP Deep Dive: There is very little mention of the underlying technology or proprietary moats, which is a common omission in high-level overview decks.

What a Founder Should Copy

The Traction Overlay: Founders should copy the format of Slide 4, showing how revenue growth relates to marketing spend. This proves you aren't just "buying" growth. · Bottom-Up Market Sizing: Follow the logic of Slide 5. Don't just say the market is big; show the math based on local units, operating rates, and daily income. · The Cost Composition Pie Chart: Slide 6's breakdown of how the raise will be spent is exactly what VCs want to see. It shows you have a plan for the capital beyond just "growth." · Social Proof Integration: If you have committed investors or notable advisors, place their logos prominently alongside your ask, as seen in Slide 12.