fundraising data room checklist

establishes the legal entity of the business. vcs need to verify the state of incorporation.

governs internal operations, voting rights, officer structures, and company management guidelines.

verifies corporate actions were officially approved by the board, including previous equity grants.

confirms the company has paid franchises/taxes and remains active in its registered state.

shows ownership percentages, fully diluted share counts, options pools, warrants, and previous financing terms.

vcs need to verify terms of previous capital raises (valuation caps, discounts, conversion triggers).

details option allocations, vesting schedules, exercise terms, and unallocated pool sizes.

the core overview of the opportunity, market sizes, gtm strategy, product roadmap, and team.

demonstrates use of funds, revenue drivers, hiring plans, margin expansions, and cash runway expectations.

provides historical evidence of revenues, expenses, assets, and liabilities.

validates actual cash balances and matches transactions reported on balance sheets.

explains how the product is engineered, database choices, scalability plans, and key technological milestones.

critical proof that all founders, employees, and contractors have assigned their software/ip to the corporation.

validates contractual revenues, billing cycles, termination clauses, and customer concentration limits.

validates standard salary levels, ip assignment conditions, at-will terms, and option vesting rules.

ensures contractor terms cover ip assignments, hourly rates, and standard termination clauses.