After an initial review, where over 90% of applicants do not proceed further, selected companies will be interviewed by telephone, and if seen as a good fit, will then be asked to submit their investment memorandum, business plan and financial model.
We aim to be respectful of the time of our management teams, so we provide quick feedback if the probability of receiving an investment from us becomes unlikely as we plan through the funding process together.
After the initial screening interviews, multiple personal meetings will take place in which we discuss the company’s businesses strategy. If the company is seeking private capital, we will help them prepare the best possible presentation for investors, advice on valuation, structure of the raise as well as corporate and deal document.
After several meetings have taken place and once we agree on a strategy, we require the company to complete a specialised diligence collection questionnaire that requests financial, legal and other data.
Our process will likely take at least three months to complete and gives both the company and us the chance to determine whether we think there is a good fit.
At the very end of the process, prior to the term sheet being signed and exclusivity being granted, we will agree on the financial and other objectives which will be met as a pre-requisite for the second and third tranches of the finance being released.
We will commonly have a seat on the board and in some cases observer seats for larger investments.
Further information and the index of the due diligence data collection is available here
We are particularly keen on developing a diverse portfolio of investee companies, including those based outside of London, and those that are run by women.