4 questions reported in Felicis interviews, organised by the group that asks them. Every question carries a model answer and graded feedback on your own attempt.
Questions
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Hard
Model builds
Built in the spreadsheet grid
Founder assessment, market sizing from first principles and ownership maths. 4 questions
Asked in early-stage investing interviews to test whether the candidate can place sparse traction in the right context.
Explain the difference between problem-solution fit and product-market fit. What evidence would you accept for each at seed stage?
A first-round question testing whether a candidate understands the practical job of an early investor after writing a cheque.
A fund is considering leading a seed round. What does being the lead investor actually mean, and why might a founder care?
A take-home style task for analysts supporting a seed investment committee memo.
You complete five customer calls. Two love the product, two say it is useful but non-essential, and one stopped using it after a month. How would you turn that into a recommendation rather than a list…
A final-round diligence judgement case: decide whether the reported traction supports a seed investment before signing a term sheet.
A B2B software startup reports $1.2m of ARR, up 150% year over year, and is raising a seed extension. You learn that one customer contributes 55% of ARR, all contracts contain 90-day termination…
Write your answer, get it graded on technical accuracy, completeness and communication, and see exactly which mechanic you missed.
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