Disclosure

It usually starts well: the pitch lands and a term sheet call is booked. Then the due diligence questionnaire arrives. Who owns the code? Why does a departed co-founder still hold 30% of the shares? The obstacles that slow a fundraising are rarely about the product. They are legal and structural problems created in a company’s early years. In this article, Jamie Tredgold looks at what investors and lenders really check, and how founders can put their house in order before the