fundraisingI am trying to understand the anatomy of a typical VC process.
So far I understand there’s a first point of contact, usually a junior analyst or Associate partner. Then the deal moves until it can find a “champion” inside the firm. Usually a Partner, Venture partner or General Partner.
This “champion” will do a long due diligence with the entrepreneur before calling in the final investment meeting. Where an actual decision is taken.
If the meeting is successful, a term sheet is issued.
Is that the last step ? Is there some more due diligence after that ? (Like technical due diligence, legal due diligence or this kind of stuff…)
Thanks !
There’s a pre term sheet and post term sheet due diligence.
Post term-sheet is more legal and accounting. Just to check there’s no hidden problem.
The post term-sheet due diligence can take anywhere from 10 days to a month (or so I’ve heard…)
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