A couple of things. You should have seen this coming... Nothing is ever a surprise. Welcome to owning your own business! If you don't have your shit together

A couple of things. You should have seen this coming... Nothing is ever a surprise. Welcome to owning your own business! If you don't have your shit together, its better to push the meeting off then to toss it at the wall and hope it sticks. If you have a compelling business, the way you handle this will only make the VC's like you more (unless you mess it up). Call them, tell the what happened and also tell them, you'll handle it... and want to reschedule for a date when you'll be on point. If they don't respect you communicating with them. You don't want their cash anyway. They know people flake... and they'll be more happy that the guy took off before they gave you some money. Don't BS money guys... They'll find out and then your done. EDIT: Does the guy that walked own any of the company? If so be prepared to discuss how you get him out of it.