9 questions reported in Andreessen Horowitz interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
Questions
Easy · Medium
Hard
Model builds
Built in the spreadsheet grid
Reference calls, technical diligence, term sheets and preference stacks. 5 questions
Portfolio-team interviews test whether you can make a board meeting useful rather than merely reportable.
You are helping a Series A founder prepare the monthly board pack. What must it contain, and what should stay out?
A portfolio-platform case asks you to create value through a customer introduction without substituting a warm email for real go-to-market work.
A Series A security startup asks its VC for introductions to enterprise customers. Build the workflow for deciding whom to introduce and how you would measure whether the support was useful.
A portfolio-support case for an AI application company scaling revenue faster than its infrastructure economics.
A portfolio company has doubled ARR to $20m, but gross margin fell from 72% to 48% as enterprise customers use more inference-heavy features. Management wants to accelerate sales hiring before the…
Tests whether you understand that headline valuation and actual economics diverge.
A company raises $100m at a $1bn post-money with a 1x non-participating preference. It later sells for $400m. What do the investors and common holders receive? Then explain how the answer changes with…
Tests whether you know which terms are economic and which are control.
Beyond valuation, which term sheet provisions matter most? Separate the economic terms from the control terms.
Founder assessment, market sizing from first principles and ownership maths. 4 questions
The arithmetic every VC analyst is expected to do in their head.
A fund invests $5m for 20% of a company, and the round includes a 10% post-money option pool. What is the pre-money valuation, and who actually pays for the pool? Then: after two more rounds each…
The question that decides whether early traction becomes a durable business.
A startup is growing fast but the product could be rebuilt in six months by a competent team. Is that a problem? How do you assess defensibility?
An offer-ready investment committee case: form a decision without pretending early evidence is conclusive.
A security startup has a former CISO founder, two enthusiastic design partners and a $30m pre-money seed valuation. One design partner will not pay until a key integration is built; a direct…
Every deck claims a large TAM; the analyst's job is to test it.
A founder claims a $50bn TAM. How do you test that, and why does market size matter so much in venture?
Write your answer, get it graded on technical accuracy, completeness and communication, and see exactly which mechanic you missed.
Company tags reflect where a question type is commonly reported in interviews. They are not sourced from, endorsed by, or affiliated with Andreessen Horowitz.