This list is intended to be useful to both founders and newer investors as they think about doing diligence on a company.
- Pitch deck
- Pro forma cap table
- Articles of incorporation and bylaws
- Historical financial statements
- Projected financial model for next 12-24 months, include expense detail and burn rate (at least until the next round of financing)
- Current cash balance, size of raise, and amount already closed in raise (if applicable)
- Round documents (if applicable)
- 6 months worth of recent investor updates (if available)
- Confirmation that all founders and employees have signed employment agreements and PIIA agreements
- Confirmation that there is no outstanding litigation or threat of litigation dating back to the founding of the company
This list is not required for many deals but you can include elements of these items if they help play to your strengths or tell your story.
- HR & onboarding documentation for your new employees. What do you give new employees when they onboard? This is an opportunity to show off how you build team and culture.
- List of major company milestones until next raise
- Product strategy & roadmap for next 6 months
- Access to product metrics or summary of product dashboards/KPIs
- Growth strategy (in particular spend across channels, etc)
- Regulatory strategy (how are you going to navigate regulation)