September 4, 2023

Black VC Creates New AI-Powered Pitch Deck Generator To Help Founders Secure Funding

Black-led venture capital firm Growth Warrior Capital is launching Elevo, an AI-powered pitch deck generator to help founders secure funding for their startups.

Investing in overlooked founders

Elevo is the brainchild of Promise Phelon, the founder and managing partner of Growth Warrior Capital. An experienced entrepreneur, Phelon’s track record includes raising $100 million in capital, transforming companies, and successfully navigating exits and acquisitions.

Phelon’s early-stage venture capital firm, invests in “dangerous” startups led by traditionally overlooked founders that have the potential to “fundamentally change the way we work, earn, and build wealth.”

“I’m building the first multibillion dollar multi-stage venture fund run by a woman of color” she told ESSENCE.

Growth Warrior Capital’s portfolio includes startups innovating in fintech, insurance tech, artificial intelligence/machine learning, and the future of work.

Cutting through the noise

Phelon came up with the idea for Elevo after being overwhelmed by the sheer volume of pitches she received from startup founders.

She told Business Insider she sought to create a free-to-use tool that would allow her to “cut through the noise” and spend more time meeting with founders and CEOs.

“I thought, what if we could take the most successful pitches from a VC’s perspective and from founder outcomes, like getting the valuation they wanted or getting funded quickly, and build a generative product that that enable you to do that quickly?”

So, Phelon teamed up with her venture partner Ashley Pilipiszyn, an applied scientist-turned-entrepreneur and deep tech angel investor who previously worked at OpenAI as one of its very first employees.

Introducing Elevo: The AI-Powered Pitch Deck Generator

Elevo is designed to streamline the pitch deck creation process. Founders input specific details such as the funding stage they are targeting, team information, product details, and market size.

Elevo then generates a customized pitch deck that aligns with what VCs are seeking, such as founder-market fit or the team’s background.

The tool caters to founders at various fundraising stages, providing targeted questions to educate them on VC expectations.

Elevo is set to launch in October; founders can join the waitlist here.

Samara Linton

Community Manager at POCIT | Co-editor of The Colour of Madness: Mental Health and Race in Technicolour (2022), and co-author of Diane Abbott: The Authorised Biography (2020)