Data Room and DDQ

Organize the data room and answer diligence questions with current, traceable evidence.

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67 pages

DDQ and evidence

Operations and controls

Operational due diligence checklist for first-time managersA practical operational diligence checklist for a first-time venture fund, covering responsibilities, controls, reporting, advisers and outstanding work.
Planning for key-person events and successionWhat would happen if a key person could not continue? Explain both the contractual response and the practical plan for looking after the fund.
Firm governance, risk, and compliance, the regulatory layer beyond the operational onePrepare the DDQ’s governance and compliance response: AML/KYC readiness, sanctions screening, regulatory history and a written code of conduct.
Accounting and valuation, the governance question behind the numbersExplain who sets fund valuations, how often and using which methodology in a DDQ, while keeping the valuation process distinct from an audit.
Legal, what routes to counsel and what a GP can have readyPrepare the legal records an LP may request and identify which drafting, interpretation and approvals require qualified fund counsel.
What operational infrastructure do LPs expect from a first-time GP?Make ownership of each operating function clear. A process can be in-house or outsourced, but someone still needs to be accountable.
Which service providers should a new VC fund hire?Choose providers against the work, the fund’s obligations and the team’s capacity. Know what each agreement includes and what remains with you.
What compliance policies should a VC GP have before fundraising?Identify the policy areas relevant to the fund, then document who owns them and how they work. Applicability depends on your circumstances.
What cybersecurity questions will LPs ask?Explain how you protect investor and portfolio-company information. The useful answer connects controls to evidence and responsibility.
How should I disclose conflicts of interest?A useful conflicts disclosure names the issue, the response and the person responsible. Keep it current as circumstances change.
How do LPs evaluate VC fund valuation processes?Show who owns valuation, what information they use, who challenges the judgment and how the process handles difficult companies.

Reporting and investor communications

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