It’s understandable that, amid a flurry of pitch meetings and rejections, founders might find themselves mystified about what venture capital investors want. However, according to Bessemer Venture Partners operating partner Jeff Epstein, it’s actually very simple: They want to see a business that has the potential to grow exponentially, some evidence of traction, and a concrete plan for further de-risking the enterprise. As you de-risk the enterprise, he explains, you create opportunities for larger fundraising rounds.