ENGAGEMENT

Our Term Sheet has a time limit so you know we will continue to work at pace.

We have now moved from “evaluation” to “verification”.   You will help us take a look "under the bonnet".  You will show us contracts you have signed, applications you have filed, your accounts and your code.  We will make more reference calls.

Our diligence goes deeper than you might expect because we need to think ahead to the questions your next investors will ask.

While we make our enquiries, we issue long-form legals that reflect our standard Term Sheet. Some of the annexes will be filled in, based on our diligence findings.

Once we are confident in our recommendation, we collate the work we’ve done and present to our Investment Committee.  This isn’t a group of anonymous  executives.  They are our day-to-day colleagues, who have followed the courtship process closely, contributing questions and concerns along the way.   But when they meet as an Investment Committee, this creates a formal milestone in our investment process.

With the Investment Committee's approval, we sign the legal agreements and write the cheque, moving our relationship to "Just Married" status.