Understanding Due Diligence

Last updated: 03/30/2023

This content is intended for past participants of First Row’s workshops and is on an invite-only basis. If you’d like to share this content, please reach out to Yoko or Minda.

About

Highlights from the session (7 min):

Key Takeaways

• The purpose of due diligence and gathering documents and information is to get to know you as a leader. Consider the tone/expectations you are setting as you go through the information sharing process.

• Have a folder system (Google Drive, Dropbox, etc.) for sharing documents and keep it updated.

• Find a trusted resource (another CEO, local angel/VC, etc.) that can help be a sounding board as you navigate due diligence and deal terms.

• Once you’ve successfully gone through the process, turn around and help the next founder with their fundraise!

Presentation Slides

Resources

• There are many checklists and frameworks out there, and they will all be a little bit different. Rather than trying to check off everything on the checklists to start, gather key documents first, then add to them as you make progress and progress through the various rounds of fundraising.

  • The pre-seed diligence framework (Techcrunch)

  • Dear SaaStr: What Types of Due Diligence Do VCs Do For Seed and Series A Rounds? (SaaStr)

Questions?

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