Milestone 3

Get Investor Ready

3 steps to develop a prioritized, targeted investor list, a fundraise tracking system and an online data room for due diligence.

  1. Set up an investor pipeline tracking system.

  2. Fill your pipeline with qualified investor leads.

  3. Construct a data room for due diligence.

Step 1: Set up an investor pipeline tracking system.

Use the template below to compile a list of target investors you plan to approach, track and monitor your progress. Click here to Download.

Potential source of capital:
  • Friends and family

  • Business partners

  • Incubators

  • Accelerators

  • Crowdfunding

  • Angel investors

  • Super angels

  • Angel groups

  • Early-stage VCs

  • Late-stage VCs

  • Corporate VCs

  • Family offices

  • Private equity

  • Venture debts

  • Government programs

  • more

Don’t worry yet about who you’ll have a chance of meeting or who’s right for your company. Once you have a list of names, you’ll be able to start figuring out how to reach out to each person on the list.

Step 2: Fill your pipeline with qualified investor leads.

You’ll likely need to start with 50 to 100 investors on your target list, assuming some will not respond.

The first people to go on your list are people that you are directly connected with through your personal or business network, including your family, friends, fans, advisors, mentors, customers, vendors or business partners who might be interested in investing in your business or referring you to someone else.

Once you’ve made a list of existing direct contacts, you will focus on investors that you want to target but aren’t yet directly connected with.

You can mine online platforms like, CrunchBase, PitchBook, LinkedIn, or VC websites - it provides details about their background, requirements and the types of investments they are actively making.

If you have no idea who to approach, see how your competitors have raised capital in the past to pick up a few clues.

LinkedIn is a must for entrepreneurs. It puts you directly in contact with those involved in similar industries. Over time, your “network” will increase, and with it, a list of potential investors to contact.

Filter and qualify your leads.

You start with a wide pool of potential investors and narrow it down to those worth reaching out to. Use the following 3 key questions to evaluate and find your best match:

  1. What kind of business do they fund? (sector, industry, existing portfolio)

  2. What are their typical requirements? (location, business stage, deal size, investment duration)

  3. Their core motivation for investing?

  • High ROI potential?

  • Strong social or environmental impact?

  • Innovative or disruptive technology, product or services?

  • Personal or mutual relationship?

You can save yourself a lot of time and hassle if you focus your initial efforts on the 30-50 investors who are most likely to be a good fit for your company. (You can always expand the list later.)

Step 3: Construct a data room for due diligence.

Sophisticated investors appreciate a well-structured dataroom (due diligence room) where documents are easily accessible, well organized and available at any time. This also allows you to produce all this information at once rather than respond ad-hoc to requests for different pieces of information.

Typical items in a dataroom:

Financial Documents:

  • Audited financial statements

  • Management accounts

  • Budgets and forecasts

  • Tax returns

Legal Documents:

  • Corporate structure and governance documents

  • Contracts and agreements

  • Intellectual property documentation

  • Litigation history

Operational Documents:

  • Business plans

  • Marketing and sales strategies

  • Supply chain information

  • Manufacturing and operational processes

Human Resources:

  • Organizational charts

  • Employment contracts

  • Employee benefits information

  • HR policies

Regulatory Compliance:

  • Permits and licenses

  • Regulatory filings

  • Environmental compliance documents

Customer and Supplier Information:

  • Customer contracts

  • Supplier agreements

  • Customer and supplier lists

Technology and IT:

  • Software licenses

  • IT infrastructure documentation

  • Data security measures

Real Estate:

  • Property leases and agreements

  • Land and building information


  • Insurance policies

  • Claims history


  • Board meeting minutes

  • Market analysis and competitive intelligence

  • Any other relevant documents that provide a holistic view of the business

Download Dataroom / Due Diligence Checklist

You can download a comprehensive dataroom checklist (70 Points) here.

Data Room to Pitch Deck Approach

Constructing a Dataroom before preparing your pitch deck is vital because it lays the foundation for a comprehensive and well-informed presentation.

By organizing and centralizing crucial business information in advance, you ensure that your pitch deck is not only persuasive but also backed by concrete data. This approach enhances the credibility of your pitch, as investors can delve into detailed information supporting your claims.

Additionally, having a Dataroom early allows you to tailor the pitch deck more effectively, emphasizing key points and addressing potential investor concerns based on the thorough groundwork done during dataroom construction.