During the Engagement phase, we determined that your startup likely meets our general portfolio criteria. Now, we'll both double-check that assessment and figure our what financial terms make sense using the following steps.
While we are reasonably good at predicting in the Engagement phase whether a startup meets our criteria, it's not too uncommon for us to discover factors during the Pre-Term Sheet phase that disqualify a startup from our portfolio. Moreover, sometimes there are no financial terms that make sense.
If everything does line up, we will issue you a term sheet and move on to the Term Sheet phase.
This phase marks the beginning of the fully-structured portion of our process. Currently, our implementation of this process uses a Dropbox file hierarchy with manually managed checklists, review, and progression. We are working on a more automated version based on a cloud-based project management platform.