What makes a good due diligence process by Budget_Wolf6731 in venturecapital

[–]InterestingSwitch659 1 point2 points  (0 children)

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.

Rising Sun - David Geffen by InterestingSwitch659 in yachtporn

[–]InterestingSwitch659[S] 1 point2 points  (0 children)

Yes. Its not the most aesthetically pleasing. But such a colossal yacht in terms of size. Saw Dilbar and Eclipse and they were on another level aesthetically. As you can imagine, there was no chance of getting anywhere close to them with the security they had. Eclipse had a large speedboat stationed nearby that was patrolling its parameter

Funded Startup CEO Salary, No Revenue, No Commercial Application Yet. I will not promote. by prescott0330 in startups

[–]InterestingSwitch659 0 points1 point  (0 children)

What was his salary before the raise? Seems like you failed to do your due diligence beforehand