Typical Annual Deal Flow Metrics
$250K - $1M
Our initial investment
$250K - $500K
Our follow on investment(s)
$500K - $2M
$2M - $20M
We pre-screening deals and follow up with a more robust screening process for attractive opportunities. After screening and before the more exhaustive due diligence process, we typically ask entrepreneurs to present to our investment committee. If there already are lead investors deeply engaged, our entire process is shortened considerably as we can draft off their work.
Companies that make it through screen should expect a more thorough review during the due diligence process. At this stage we drill down on key aspects to the business, review critical management team assumptions asserted in the business plan and financial projections, and confirm important information provided.
If we are a lead investor we will work with our entrepreneurs and their attorneys to paper a mutually attractive deal structure. Once a term sheet is in place, we will look to syndicate opportunities at this stage if desired by our entrepreneurs. If we are a follow-on investor (i.e., someone else is the lead), typically valuation and structure have already been negotiated by the lead investor(s).
We can fund a transaction as soon as the legal documents have been created. We view funding as the very beginning of our journey with our entrepreneurs, and look forward to working closing with them to maximize wealth creation for all stakeholders. We typically require portfolio companies provide us with at least quarterly updates including financial statements and projections, board observations rights for us or one of our limited partners (assuming subject matter expertise), and ad hoc mentoring conversations as needed.