Key Takeaways
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Reporting cadence: Venture funds circulate a tear sheet for every portfolio company each month or quarter, updating LPs on performance one company at a time.
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Cash and burn fields: A tear sheet's financial block covers revenue, cash balance, burn rate, and runway, while the investment performance block carries cost, current value, and board information.
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Consistency across cycles: A tear sheet should carry the same company-specific KPIs in every reporting cycle rather than swapping in different measures from one update to the next.
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Investor commentary: A fund adds original analysis of a portfolio company's metrics and performance to the tear sheet rather than sending numbers without interpretation.
Tear Sheets (also known as one-pagers or fact sheets) are an effective way to communicate the performance of your portfolio on an individual company level. In Venture Capital, tear sheets are commonly shared with Limited Partners (LPs) on a monthly or quarterly basis to keep investors updated on company performance.
Common Tear Sheet Elements
Some common elements that should be included in tear sheets are:
- Investment performance – Cost, value, board information
- Financial metrics – Revenue, Cash Balance, Burn Rate, Runway
- Company-specific KPIs – Keep this consistent for each reporting cycle.
- Commentary – Add your own analysis on company metrics and performance.
- Company context – Include details such as the company description, sector, HQ location for context.
Download Our Tear Sheet Examples
Download our packet of Tear Sheet Examples built with Visible.vc’s software for investors for inspiration before your next reporting cycle:
With Visible.vc you can create professionally formatted Tear Sheets for your entire portfolio within minutes. To learn more, schedule a demo with our team.
