Deal Flow Funnel & Investment Selection Analytics

Northgate Ventures — Fund I (2020) + Fund II (2022) Combined Pipeline Intelligence

Period
Total Deals Reviewed
847
+12% vs PY
Closed Investments
18
+3 YoY
Overall Conversion
2.1%
-0.3pp
Median IC Velocity
47d
-8d improvement
Channel Quality Score
7.8
+0.4 pts
Loss-to-Comp Rate
23%
+5pp

Deal Flow Funnel — TTM Pipeline Progression

Sourcing Channel Performance

Quality Score = (Conversion Rate × 40%) + (Avg. Post-Inv. TVPI × 60%)

IC Decision Velocity by Quarter

Median days from First Call to Term Sheet issuance

Pass Reason Distribution — IC vs Pre-IC Decision Points

IC-Level Passes (n=84)
Pre-IC Passes (n=612)

Loss-to-Competitor Breakdown by Deal Stage

Competitor Firm Term Sheet Stage Due Diligence Negotiation Total Lost Win-Back %
Sequoia Capital832138%
Andreessen Horowitz5411010%
Accel Partners422825%
Benchmark Capital33060%
Index Ventures221520%
Lightspeed Venture31040%

Sector Thesis Accuracy Tracker (24-Month Lag Analysis)

Predicted Growth vs Actual Market Outcome — Cohorts 2021-2022

Founder Reference Score Distribution (Pre-Investment Composite)

Score Components: Team (30%), Market Insight (25%), Execution (25%), Network (20%)

Deal Flow Cohort Outcome Table — Investment Performance by Sourcing Channel

Sourcing Channel Deals Closed Avg Check ($M) Realized TVPI Marked TVPI Blended TVPI Quality Score
GP Network (Tier-1)6$3.22.8x4.1x3.7x9.2
Portfolio Founder Referral4$2.81.9x3.5x3.0x8.4
Angel Co-Investor3$2.51.2x2.9x2.4x7.6
Outbound Sourcing (Thesis-Driven)2$4.00.8x2.2x1.8x6.9
Accelerator (YC/Techstars)2$1.83.2x5.1x4.5x8.8
Inbound (Cold)1$2.00.5x1.1x0.9x4.2