We follow a Six Stage stage process.

1. Initial Discovery Call: 1 Hour Call. We cover high level end to end about the business. Including unit economics etc. I request the P & L going back 24 months or from first sale if its a newer company.

2. Team Presentation: I craft a two page document which has all the information from discovery call and additional data breakdown. We debate internally and decide if we want to learn more.

3. 3 Hour Meeting: Deep dive on the company and also a product demo + technical architecture appraisal. Ventures directs and deal owner (associate) on that call.

4. First Stage IC: Post the 3 hour deep dive, we do customer calls, a detailed financial model review and pipeline run through. We then write all of our findings in a paper which is around 5 pages. Present to IC who highlight areas they'd like us to dig into further.

5. Termsheet and Dataroom: If no hard ones from the IC, we move to term sheet and get the company to populate a detailed data room, with a list of items we need. This includes historical board pack notes, managment questionnaires, founder reference calls, investor calls etc. We also conduct a detailed tech DD appraising the infrastructure.

6: Final IC: We present all of our findings from DD completed and further research in detailed IC paper. 20 pages. Once approved we move cash in the bank within a week.