Certainly, it's possible to sell certain VCs on borderline-fraudulent visions of the future, the so-called Investor Storytime pitch. I'm think of Juicero, YikYak, WeWork, etc.

However, that doesn't mean that to be a fraud-resistant VC you shouldn't be looking for a story, or that as a founder you're pulling a fast one by having a narrative in your pitch.

To understand something, you need to make connections. To convince someone to invest, you need to get the investors to understand what your business is and why it's going to grow and make money. Connecting a series of facts and ideas from a starting point to an end IS the definition of a narrative.

That's just how humans interact, disseminate information, and learn. Even technical work (and pure math!) does this.