Process
Study the founding team - Education, Accomplishments, Business Acumen, Morality, Business Ethics, Financial stability
Evaluate the merits of their "Idea"
Understand the challenges, pros and cons of the idea with the help of founding team
Evaluate business plan
Fit Gap Assessment
Present it in the way the VC likes it
Legal stuff and compliance for SAFE, Series A etc?
Mindset
On Mindset, presence, values
Thought leadership
Team Work
Background check