VC Shouldn’t be a Black Box

Take a look at our real investment history data:

Whether it’s warm intros or cold emails, we do our best to engage teams and come back with meaningful feedback. About a third of those initial conversations turn into in-person meetings.

We decide who to spend time with based on:

• The team’s background, founder/market fit, and referral source
• The stage and industry the team is operating in
• The business concept and its potential impact on the market

There is no one size fits all timeline after our first meeting, however you can tell you are progressing if we are actively engaging with you, asking for:

• Materials: financial and hiring plan, product roadmap, investor deck
• Data: competition, market, current traction
• Follow up meetings: with key team members and advisors

We know from experience that founders’ time is precious and no answer is worse than a no, so we optimize for fast decision-making and try to be clear on timelines.

If you’re invited to pitch the partnership, this means we’re already:

• Writing an investment memo about your company
• Debating the opportunity internally
• Getting feedback from key players in the industry

If there’s a mutual fit, we’ll begin actively discussing terms, and you’ll move into the due diligence stage.

On our part, extending a term sheet represents real and deep conviction in your business and, more importantly, your team.

This marks the beginning of our formal due diligence process, which covers three areas:

• Business: We’ve spent a lot of time learning about your company since that first email, so this is mostly complete
• Legal due diligence
• Personal: Character references – we encourage you to do the same