Stage, sector, and traction fit

• Which sector best describes your company's primary focus? Options: Enterprise software, Fintech, Healthtech, Frontier technology (ML, robotics, quantum, etc.), Other (please specify)
• Which best describes your current stage? Options: Idea / pre-product, Prototype with design partners, Early product / pilot customers, Limited revenue (some customers, < $100k ARR), Generating meaningful revenue (> $100k ARR)
• Roughly how many months of runway does the company have today? Options: < 3 months, 3–6 months, 6–12 months, 12+ months

Capital need and structure

• What total round size are you targeting? Options: < $250,000 (below typical min), $250,000–$499,999 (below typical min), $500,000–$1,000,000, $1,000,001–$3,000,000, $3,000,001+ (above typical max)
• Which instrument do you expect or prefer for this round? Options: Priced equity round, Convertible instrument (SAFE or convertible note), Open to either / seeking guidance, Other
• What governance role would you expect from the lead investor? Options: Board seat, Board observer, No board role preferred, Open to either, Unsure

Compliance and decision authority

• Will this company process or store protected health information (PHI)? Options: Yes, No, Not sure / TBD
• Who will make the final decision on selecting a lead investor? Options: Founder(s) / CEO, Existing board or current investors, CEO plus founder(s) jointly, Other / Unsure

Timing and top priorities

• What's your target close timeline for this round? Options: Within 30 days, 1–3 months, 3–6 months, 6+ months / exploratory, No set timeline
• In one or two sentences, what are the top outcomes you need from an investor in the first 18 months?

Founder's Snapshot: quick context

• Tell me briefly what stage your company is at today, and the milestone that would make you say you are ready for a seed lead. Options: Pre-idea or exploration, Prototype or alpha, Beta with design partners, Early revenue or pilots, Growing revenue
• How many full time founders are there? Options: Solo founder, 2 founders, 3 founders, 4 or more founders
• Walk me through your current product status in one to three sentences, focusing on what is built and what is still experimental.
• When did you first start working on this idea, and what meaningful change has happened since then?
• Who are the earliest users or design partners you've engaged and what specific outcome did they test with you?
• Is there a single reason you would decline an investor offering your target check size today? Options: Yes, governance terms, Yes, valuation or economics, Yes, timing or dilution concerns, No single reason at this time, Unsure

North Star and the Outcome that Changes Everything

• If you had to pick one measurable outcome in 24 months that would make your company undeniable to Series A investors, what is it?
• Which customer or buyer segment will most prove your thesis, and why do you believe that segment will scale? Options: Enterprise buyers, SMBs, Developers or platforms, Healthcare organizations, Fintech institutions, Other
• Describe the core insight that gives you a defensible advantage over current alternatives.
• What revenue, ARR, or usage milestone would force you to change strategy if you did not reach it?
• How much of achieving that outcome depends on product improvements versus distribution or partner access? Options: Primarily product, Primarily distribution/partners, Even split, Unsure

Team, Runway, and Hiring: who moves this forward

• Which single hire in the next 12 months would most increase your chance of product-market fit? Options: Lead engineer or VP Eng, Product leader, Head of Sales or BD, Growth or marketing lead, Other
• Tell me your current runway in months and the key assumptions that drive that number. Options: Less than 3 months, 3 to 6 months, 6 to 12 months, More than 12 months
• Walk me through your hiring process for technical roles, from sourcing to offer acceptance.
• Who on your team currently owns recruiting and onboarding for the next hires? Options: Founder, Head of People, External recruiter, No clear owner yet
• Would you accept a smaller check if the lead investor committed to specific recruiting support and warm introductions? Options: Yes, Maybe with a clear plan, No
• If you could not secure at least two hires within the next 90 days, what would that mean for the company's next milestone?

Product Signals and Early Traction that Matter

• Name the single user behavior or metric right now that would make you stop other work and double down on growth.
• Estimate how many active trial users or design partners are actively engaged with your product today. Options: None, 1 to 5, 6 to 20, 21 to 100, More than 100
• When you onboard a new user, what is the most common friction that prevents them from reaching value in the first session?
• Why have the early partners you have committed to work with you rather than existing solutions? Options: Product uniqueness, Price or terms, Relationship with founders, Access to potential customers, Other
• Describe the highest priority product milestone for the next six months and why hitting it moves the company forward.
• Suppose the next release does not move that priority metric by your target, what contingency would you execute?

Investor Relationship: what support actually helps

• What would a wrong investor do that would actively make your life harder as a founder?
• Select the types of hands-on support you expect from a lead investor in the first 18 months. Options: Recruiting and introductions, Early customer introductions, Product and GTM strategy help, Fundraising and pitch support, Back office and finance setup, Governance and board support
• Share a recent example of an investor relationship that worked well for you or someone you trust, and what specifically made it valuable.
• Do you prefer a formal board seat, a board observer, or a lighter cadence of check-ins? Options: Board seat, Board observer, Monthly check-ins, Quarterly updates only
• Estimate the percentage of founder equity you expect to retain after this round. Options: > 60%, 40 to 60%, 20 to 40%, < 20%, Unsure
• Would you accept an investor-requested board seat with limited veto rights on specific matters? Options: Yes, Maybe with defined limits, No

Deal Killers and Hard Boundaries

• Identify the single condition that would make you decline a term sheet even if the economics looked attractive.
• Are there prior investor agreements, convertible instruments, or founder commitments that limit what terms you can accept? Options: Yes, convertible notes or SAFEs, Yes, revenue sharing or royalties, No, Unsure
• List any intellectual property, licensing, or regulatory obligations that could materially affect an investment decision.
• Name the internal stakeholders who must sign off before you can accept an investment. Options: CEO / founder, Board members, Existing investors, Advisors, No other signoffs
• Within what timeline would you need a term sheet and legal documents to meet your target close date? Options: Immediate, within 2 weeks, 2 to 4 weeks, 4 to 8 weeks, More than 8 weeks
• Could you proceed if any of these items could not be resolved within 30 days? Options: Yes, No, Depends on which item

Competitive Landscape and Alternatives You're Weighing

• Why might you stay with your current approach instead of taking outside capital right now?
• Select the external funding options you are actively considering today. Options: Other venture funds, Angel syndicates, Accelerator or incubator, Strategic corporate investor, Bootstrapping, Debt or revenue financing
• Have any internal leaders or co-founders proposed continuing to grow without outside capital for now? Options: Yes, No, Somewhat, no consensus
• Explain what would have to be true about your current approach for you to keep doing it rather than change course.
• Suppose an investor matched your ideal economics and support today, what practical barrier would stop you from signing this week? Options: Cap table issues, Co-founder disagreement, Regulatory blockers, Timing for key milestones, Nothing, ready to sign
• Could staying internal be faster or cheaper than taking outside capital for the next six months? Options: Likely faster, Likely cheaper, About the same, Unsure

Operational Readiness and Closing Constraints

• Identify any operational gap that would prevent you from closing or taking investor support immediately.
• List the legal and corporate items you have already completed, for example incorporation, cap table cleanup, and designated signatories. Options: Incorporation complete, Clean cap table file ready, Authorized signatories designated, Legal counsel engaged, None of the above
• Provide the role that owns your cap table and can produce a clean cap file and ownership consents. Options: CEO / founder, CFO / founder, External counsel, No single owner
• Are there any banking, wire, or foreign entity restrictions that could delay receipt of funds? Options: Yes, domestic banking limits, Yes, foreign entity or FX issues, No known restrictions, Unsure
• Give an estimate of the engineering bandwidth available for integrations, production fixes, or compliance work in the next 90 days. Options: Less than 10% capacity, 10 to 25% capacity, 25 to 50% capacity, More than 50% capacity
• Do you have outstanding regulatory approvals, clinical validations, or specific data controls required before deployment? Options: Yes, regulatory approvals required, Yes, clinical or validation required, Yes, data protection or certifications required, No, Unsure
• Is any single operational item likely to block a close within 60 days? Options: Yes, No, Maybe

Decision Process, Timing, and Next Moves

• Explain who will make the final decision and what specific information would make them sign this week.
• Within what window do you expect to decide about taking institutional capital? Options: Within 2 weeks, 2 to 4 weeks, 1 to 3 months, More than 3 months
• Choose the supporting documents that would speed internal approvals, for example cap table, three month cash forecast, or founders' consents. Options: Clean cap table, 3 month cash runway forecast, List of customer references, Founders' consents, Legal entity formation documents
• Do you want us to introduce a sample term sheet template and a proposed onboarding plan before a live call? Options: Yes, send before the call, Yes, present during the call, No, not needed
• Provide the earliest availability for a 30 minute follow up call to resolve open items. Options: This week, Next week, In two weeks, Unsure
• Assuming we prepared a term sheet aligned with your answers, would you be prepared to sign a letter of intent within 7 days? Options: Yes, Maybe with conditions, No

• Partner Conversation, Solution Experience

• Confirm the current state and its cost
• You confirm the proposed 0-18 month plan directly addresses the hiring, pricing, and customer introduction gaps you described.
• Seller to deliver a tailored 0-18 month milestone plan that ties proposed check size, instrument, governance, and each hands-on support module to hires, pricing experiments, and customer introduction sequences.
• You agree that the mapped check size, instrument, and governance model are sufficient to execute the plan without surrendering unnecessary founder ownership.
• Map investment to milestones
• Buyer to provide current team roles, existing runway math, and the top three priority hires for the next 12 months.
• You identify any remaining evidence or conditions required before proceeding to Investment Scope.
• Proof of support modules
• Buyer to confirm any non-negotiable governance preferences (board seat, observer, or other constraints) and key legal or investor constraints.
• Seller to propose two calendar options for the follow-up Investment Scope session to finalize check size, instrument, governance, and deliverables.
• Validation and alignment

• Partner Conversation, Solution Experience
• Partner Conversation Deck
• Partner Conversation Brief

• meeting
• slides
• document

• Lead seed round term sheet and closing
• Fund seed investment (capital transfer)
• Assume board seat or board observer role
• Deliver 18‑month financial model and unit economics
• Draft option pool and equity plan documents
• File incorporation and entity formation documents
• Source candidates for first five hires
• Coordinate candidate interviews and offer negotiations
• Provide investor pitch coaching and deck revision
• Make warm introductions to Series A investors
• Arrange early customer pilot introductions and demos
• Run product iteration sprint (8–12 weeks)

Lead seed round term sheet and closing

• How much is the target check size you expect to be reflected in the term sheet (provide a range in USD)?
• Which instrument structure do you prefer for the round (priced preferred stock, convertible note, SAFE, or other), and which conversion triggers matter to you? Options: Priced preferred stock, Convertible note, SAFE / Simple Agreement for Future Equity, Other — explain
• Who on your team will be the authorized signatory for the term sheet and closing documents, and what is their email and title?
• Describe any specific governance provisions you require in the term sheet such as a board seat, board observer, protective provisions, or veto items, and reference the clause names if you have a draft.
• Estimate the post-money valuation range you are targeting and indicate if you need a lower/higher valuation for Series A follow-on dynamics.
• List the acceptance criteria that will validate the term sheet and closing are complete (for example: fully executed term sheet, signed stock purchase agreement, cleared wiring confirmation). Options: Signed term sheet, SPA executed, and wire confirmation, Executed SPA and legal sign-off only, Custom — describe below

Fund seed investment (capital transfer)

• How soon after signing do you need funds available (provide target date or number of banking days)?
• Which receiving bank or corporate account will accept the wire, and do you have completed wire instructions in PDF form to upload? Options: Yes, wire instructions ready, No, need template, We use an escrow agent
• Who is the finance contact we should coordinate with for KYC and bank onboarding and what is their remit (CFO, external counsel, founder finance lead)?
• Describe any special conditions on the capital transfer such as tranche triggers, escrow holdbacks, or conditions precedent tied to milestones in the schedule.
• Estimate the expected banking jurisdiction and any cross-border FX needs that could affect transfer timing (country and currency).
• Please indicate the acceptance evidence that confirms capital transfer completion (for example: bank wire confirmation, statement line showing funds credited). Options: Bank wire confirmation file, Bank statement line showing credit, Escrow release confirmation

Assume board seat or board observer role

• Which governance role do you expect the investor to take: full board seat, board observer, or committee observer? Options: Board seat, Board observer, Committee observer, No governance role desired
• Who from your current cap table should retain founder/management board seats after the round (list names and current share class)?
• Describe any special board governance rules you require such as founder protective provisions, supermajority approvals, or observer information rights.
• When do you plan to convene the first board or observer meeting after closing (date or weeks after close)?
• Indicate the information package you will provide to a new board member or observer at first meeting (for example: cap table, one-page exec summary, 3-month burn plan). Options: Cap table + 3-month burn plan, Full data room, One-page summary only
• Specify whether you require NDA or information barriers before sharing monthly board materials and, if so, provide the standard NDA you use. Options: Standard NDA required, No NDA required, We will sign the investor's NDA

Deliver 18‑month financial model and unit economics

• What forecasting horizon do you need in the model (months) and do you require monthly granularity for at least the first 18 months? Options: 18 months monthly, 18 months quarterly, Longer than 18 months
• Which revenue model artifacts should be included in the model: pricing table, customer cohort assumptions, sales funnel conversion rates, or pilot revenue schedule? Options: Pricing table, Cohort assumptions, Funnel conversion rates, Pilot revenue schedule
• Who will supply historical inputs such as current MRR, pilot ARR, customer acquisition cost by channel, and average contract value for the model?
• Describe the unit economics you expect captured (for example: contribution margin per customer, CAC payback in months, LTV:CAC ratio) and thresholds that matter for Series A readiness.
• Estimate your current monthly burn, runway in months, and the primary cost categories that should be modeled (payroll, cloud, sales, R&D).
• Detail the acceptance criteria that will confirm delivery of the financial model (for example: editable spreadsheet with assumptions tab, scenario analysis, and unit economics dashboard). Options: Editable spreadsheet + assumptions tab + scenario analysis, PDF report only, Spreadsheet and one-page summary

Draft option pool and equity plan documents

• How large should the option pool be expressed as a percentage of post-money fully diluted cap table, and do you prefer a fixed grant schedule or rolling refreshes? Options: % post-money — specify below, Fixed grant schedule, Rolling refreshes
• Which option plan documents do you need drafted: equity incentive plan, grant agreements, exercise notices, or board resolutions authorizing the pool? Options: Equity incentive plan, Grant agreement templates, Exercise notices, Board resolutions
• Who will administer grants initially (founder, external counsel, payroll provider) and will you use an equity management platform? Options: Founder/CEO, External counsel, Payroll provider, Equity management platform
• Describe vesting terms you expect to include for key hires such as cliff length and acceleration on change of control, referencing your existing offer language if any.
• Attach your current cap table file or paste the top 10 shareholders and share classes so we can model post-round dilution.
• Specify any jurisdictions or tax regimes that will affect plan documents (for example: U.S. federal, California tax, U.K. EMI eligibility).

File incorporation and entity formation documents

• In which legal jurisdiction is the company incorporated and do you plan any new entity formation or re-domiciliation during closing?
• Provide the current entity legal name, registered agent contact, and corporate ID numbers that will be needed on formation filings.
• Which incorporation documents do you require filed or updated: articles of incorporation, bylaws, shareholder agreements, or UCC filings? Options: Articles of incorporation, Bylaws, Shareholder agreement, UCC filing
• When was the last board or shareholder resolution executed and do you have a signed minutes record to attach for prior capital actions? Options: Within 3 months, 3-12 months, More than 12 months, No minutes available
• Identify any outstanding corporate housekeeping items such as missing filings, unissued stock certificates, or outdated registered agent records that must be resolved before closing.
• Specify whether you need assistance with tax registrations or EIN / employer identification filings as part of entity setup. Options: Yes, need EIN/Tax registrations, No, already handled

Source candidates for first five hires

• List the priority roles among your first five hires (for example: VP Eng, Head of Sales, Senior Product Manager) with brief one-line role objectives.
• Who will be the hiring owner for each role and what interview loop do you prefer (number of stages and key interviewers)?
• Describe the must-have skills and experience bands for each candidate profile and any required domain background (for example: fintech compliance, enterprise SSO integrations).
• When do you need the first hire onboarded and what is your target start date for the full set of five hires?
• Estimate the compensation bands you plan to offer for each role including equity range and cash target so sourcing can be aligned.
• Select any sourcing channels you want prioritized (founder network, specialized recruiters, talent marketplace, university pipelines). Options: Founder network, Specialized recruiters, Talent marketplace, University pipelines

Coordinate candidate interviews and offer negotiations

• How many interview stages do you want for senior hires and which stage must include a culture/mission interview? Options: 2 stages, 3 stages, 4+ stages
• Which documents will you provide to candidates during the process such as job description, offer letter template, and equity summary? Options: Job description, Offer letter template, Equity summary, Other
• Who will negotiate offers on your behalf and who has final sign-off authority for compensation and equity grants?
• Describe any non-standard offer components you plan to include such as relocation allowance, signing bonus, or guaranteed severance clauses.
• When offers are extended, what timeline do you require for candidate acceptance and when should negotiation be escalated to founders? Options: 48 hours, 72 hours, Custom — specify
• Outline the acceptance evidence you'll use to confirm a hire is closed (signed offer, completed background check, and start date confirmation). Options: Signed offer + start date, Signed offer only, Signed offer + completed background check

Provide investor pitch coaching and deck revision

• Attach the current pitch deck version and indicate which slide you expect to iterate most (problem, GTM, traction, financials).
• Describe the target audience for the revised deck (seed investors, Series A leads, strategic partners) and any investors you specifically want to address. Options: Seed investors, Series A leads, Strategic partners, Other
• Who will present the deck during investor meetings and do you want presenter coaching for one or more founders? Options: CEO only, CEO + CTO, Multiple founders — specify
• How many coaching sessions do you want included and do you prefer mock investor Q&A with partner feedback? Options: 1 session, 2-3 sessions, 4+ sessions with mock Q&A
• Specify the key metrics or evidence you want sharpened on the deck such as pilot conversion rate, ARR run-rate, or unit economics per customer cohort.
• Indicate whether you require a one-page investor memo or leave-behind in addition to the deck. Options: Yes — one-page memo, No — deck only

Make warm introductions to Series A investors

• List the ideal Series A investor profiles you want introduced (lead with enterprise SaaS experience, sector-specific LPs, or strategic corporate VCs).
• Who among your founders will lead follow-up conversations after an introduction and what is their preferred meeting cadence?
• Describe any diligence artifacts you want prepared before introductions such as a one-pager, updated model, or data room index. Options: One-pager, Updated model, Data room index, Other
• When do you plan to begin Series A outreach relative to this round closing (immediately, in 3 months, in 6 months)? Options: Immediately, In 3 months, In 6 months
• Specify any redlines or constraints for introductions such as embargoed topics, no cold intros, or investor exclusions.
• Select the preferred intro format for Series A meetings: 1:1 intro email, warm three-way call, or partner-led demo intro. Options: One-to-one intro email, Three-way intro call, Partner-led demo intro

• Final Term Sheet
• Subscription / Share Purchase Agreement (priced round)
• Convertible Instrument Purchase Agreement (convertible financing)
• Investor Rights Agreement
• Voting / Shareholders Agreement
• Board or Observer Appointment Letter
• Closing Conditions & Deliverables Checklist
• Closing Timeline & Mutual Obligations
• Escrow / Wire Instructions and Post-Closing Cap Table

• Go-live health check (weeks 1-4)
• First measurement review (weeks 4-10)
• 90-day acceptance gate
• Quarterly success review (ongoing)

• Refresh the list of targeted partner introductions and set outreach deadlines for the next quarter.
• Formal acceptance decision recorded for the acceptance criteria listed in the Onboarding Details stage.
• Pass/fail outcome documented for each numeric target and evidence source captured.
• Remediation plan created for any unmet criteria with clear resolution timelines.
• Publish the acceptance decision and supporting evidence to the shared workspace.
• Create remediation tasks for unmet criteria with target completion dates and verification steps.
• Update the milestone tracking board to reflect pass/fail status and remediation progress.
• Progress review versus Onboarding Details targets
• Confirm whether delivery is meeting the commitments defined in Onboarding Details for runway and milestone progress.
• Decrease the count of open high-priority blockers quarter over quarter.
• Agree the concrete support tasks for the next quarter and how ongoing updates are posted to the shared channel.
• Update the milestone percent-complete and publish a one-page quarter status update.
• Close or re-scope any blocker tasks that cannot be resolved this quarter and document next steps.
• Reconfirm onboarding milestones and owners
• All onboarding milestones reviewed and ownership for each open item confirmed.
• High-priority blockers documented with target resolution dates.
• Shared channel for introductions, issues, and ongoing support enabled and acknowledged by the team.
• Publish the health check summary and updated milestone ownership list to the shared channel.
• Log high-priority blockers with target resolution dates and required inputs.
• Schedule the first measurement review for the agreed window four to ten weeks after this meeting.
• Present first data against named metrics
• Determine whether runway and hiring metrics are moving toward the Onboarding Details targets.
• Set a short list of corrective actions with deadlines to address the largest gaps.
• Confirm evidence and timing needed for the 90-day acceptance gate.
• Publish an updated runway model showing assumptions and month-by-month cash runway.
• Provide an updated hiring plan with timing for the next two hires and expected close dates.
• Update the intro pipeline with booked meetings and next outreach steps.
• Restate acceptance criteria and numeric targets
• Deployment and deliverables validation
• Present outcome data against each criterion
• Blocker burn-down and outstanding remediation status
• Diagnose root causes for any gaps
• Talent and hiring update
• Agree corrective actions and dates
• Early adoption signals and usage patterns
• Document pass or fail per criterion and capture decision
• Confirm timeline to the 90-day acceptance gate
• Agree remediation items and resolution timeline
• Confirm ongoing support actions and shared channel activity
• Surface blockers and open issues
• Agree immediate remediation actions