Our due diligence process has three basic steps which we conduct while sharing continuous feedback:
1) Refining vision for team requirements, product(s) and business model(s)
2) Customary due diligence, including reference checks and technology, market, legal and financial reviews
3) Term-sheet development and investment, including syndication with co-investors (as applicable)
Normally this process will require at least 2-3 meetings between your leadership team and ours in Boston or New York City, in addition to your completed business plan. We would also have at least one on-site visit to meet your entire team. There are no secret tests involved. We are open, honest and collaborative. These are values we want to foster in our working relationship in general. We will often create valuable introductions to our network as part of our diligence process, in advance of taking a formal decision on whether we will invest.
After satisfying all questions from our partnership, and having an aligned vision towards company-building, we will present a term-sheet to explain the amount we will be willing to invest and under what conditions. Our investment terms always emphasize shared risk-taking and shared rewards that motivate teams to significant success. Following final diligence steps and legal agreements, we’ll team together to build the Next Wave of innovation together.