One of my startups is about to raise a big Series A. But first, they have to build their data room. Here’s how it works…

Your data room should include everything a VC needs for diligence. Here are some items to include: 

• Deck
• Certificate of Incorporation and Bylaws 
• One pager and/or deal memo 
• Cap table
• Prior SAFEs and term sheets
• IP assignments 
• Founder share agreements
• P&L
• Financial projections
• Board minutes (if you have a board)
• Bank statements
• Copies of customer contracts
• Patent documentation

These documents help VCs verify that your company is legit, your customers are real, and the money in the bank actually exists. 

Without this info, most VCs won’t write a check. So before you get a term sheet, get your data room together. 

Organize each type of document in a folder — all the contracts go in a “Customer Contracts” folder, for example. Tools like Google Drive, Docsend, or Agree.com are great for sharing these documents. 

You may already have some of these documents in your Gmail or Google Drive. Try using an LLM connected to those tools to gather the info you need. 

Digging up your Certificate of Incorporation isn’t anyone’s idea of a good time. But if you want to raise big money, it’s a must. 

Once your data room is set up, you’ll be ready to close that multimillion-dollar check.

More from the blog: 

38 Words Got This Founder on My Calendar — Here’s the Cold Email Formula That Wins

I’ve Seen Thousands of Founder Pitches. These 5 Mistakes Keep Showing Up.

Fundraising: The One Thing You Can’t Outsource

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