Investment Process

Our fundamental goal is a process that supports systematic rather than ad hoc decision-making. Moreover, we've done a lot of research and experimentation to identify features that can make our process quick and efficient for both startup founders and our team. So entrepreneurs are usually pleasantly surprised by their experience. One nice feature is that we can tell you pretty precisely what will happen:

  • Engagement. We work together to determine if there's a basic fit between our criteria and your needs.
  • Pre-Term Sheet. We work together to determine (a) if an investment makes financial sense in the abstract and, if so, (b) what the exact terms should be.
  • Term-Sheet. We issue a formal term sheet and you decide if you want to accept.
  • Pre-Funding. Completing the investment proceeds on two parallel tracks, finalizing funding documents and completing due diligence.
  • Funding. Your shareholders and Board authorize the necessary corporate actions, we both sign the relevant documents, and then we wire the money.

Quick Turnaround

Entrepreneurs must sometimes nag investors to move the investment process along. We strive to reverse this dynamic and nag entrepreneurs instead! We make investments all the time whereas founders receive them only occasionally. More repetition should make us faster. So our goal is not to be a bottleneck.