Why do I get rejected by venture capitals?

VCs generally invest in high growth companies that can return multiples of over 20X - 30X on their investment.

Almost all the time, VCs generally get their returns from selling the stake they own in your company.

In other words, if you're not high growth and do not ultimately provide an avenue for VCs to liquidate their stake in your company at 20x-30x, they won't invest in you.

Another main reason why they don't invest in you is because it doesn't fit their mandate.

As VCs manage other investors' money, they are restricted from investing in certain companies, such as companies that are:

• Too early - They believe there is an opportunity but your company is at a stage they don't invest in (example: you're at the seed stage but they invest at Series A and above)
  
• Too late - Your company has grown far larger than the stage they invest in (they wont be able to get the valuation they want) OR the market is saturated (ie: ride hailing and e-wallets).
  
• Invalid Sector - Your business operates in a sector they do not invest in (ie: social media companies going to fintech VCs)
• Overvalued - Some founders are pitching a company valuation that is too high.
• Poor team - Bad execution, egoistical founders, etc.

and lots more...

There are many more reasons, bu these are the high order bits.