LP Meeting Preparation Playbook
Systematic approach to preparing for investor meetings: researching LP background, identifying common ground, anticipating questions, preparing examples, coordinating team messaging.
Preparation quality directly affects meeting conversion—demonstrating LP knowledge and anticipating concerns shows respect and professionalism.
Expanded Definition
Meeting preparation includes: LP research (background, mandate, portfolio, team, recent activity), relationship mapping (warm intro context, shared connections, co-investors), custom examples (selecting portfolio stories matching LP interests), question anticipation (preparing responses to predictable concerns), team coordination (who leads, who supports, consistent messaging), logistics (location, timing, technology setup, materials distribution), follow-up planning (next steps, timeline, deliverables).
Preparation depth varies by meeting importance: high-priority anchor target warrants 4-8 hours prep; routine meeting 1-2 hours. Key is customization—generic pitches convert poorly versus tailored presentation demonstrating LP-specific knowledge and fit.
Signals & Evidence
Preparation quality indicators:
- LP knowledge: Reference their specific portfolio, recent allocations, stated preferences in conversation
- Custom examples: Portfolio stories selected to match LP sector focus, stage preference, values
- Question readiness: Prepared responses to predictable questions (track record, fees, differentiation)
- Team coordination: Consistent messaging, clear roles, smooth handoffs between team members
- Relationship context: Reference introducer, shared connections, co-investors appropriately
- Follow-up clarity: Defined next steps, timeline, deliverables before ending meeting
Decision Framework
- Research depth: High-priority targets = 4-8 hours (comprehensive LP profile); routine meetings = 1-2 hours (basic background)
- Customization level: Tailor examples, anticipate specific concerns, reference LP context in presentation
- Team preparation: Pre-meeting huddle to align on roles, messaging, examples, question handling
Common Misconceptions
"Same pitch works for all LPs" → Customization dramatically improves conversion; generic pitches signal poor preparation. "Pitch deck is enough prep" → LP research, question anticipation, and team coordination matter as much as deck quality. "Over-preparation wastes time" → Quality meetings convert at 5-10x rate of generic meetings; preparation ROI is high.
Key Takeaways
- LP meeting preparation combines research (background, mandate, portfolio), customization (tailored examples), and team coordination (roles, messaging)
- Preparation depth should match opportunity importance—high-priority targets warrant 4-8 hours prep for conversion optimization
- Customization (referencing LP specifics, matching examples to interests) dramatically outperforms generic pitches