Fundraising data-room checklist

Use this to index and check records. Do not create missing legal or finance documents and do not grant access.

Build the index

For every file record the section, exact title, covered entity, date or version, owner, approval state, confidentiality class, approved audience, and open issue. Keep superseded files marked as such rather than deleting their history.

Suggested sections:

• company formation, governance, and board approvals;
• ownership and security records;
• financial statements, management reports, budget, and model;
• banking, debt, grants, and material commitments;
• customer, supplier, and partner agreements;
• intellectual property and employment records;
• privacy, security, insurance, disputes, and compliance;
• product, market, commercial, and operating metrics.

The company and its counsel decide which sections apply.

Check each section

Flag missing signatures, stale dates, conflicting entity names, inconsistent totals, broken links, duplicate current versions, personal data that is not needed, and records whose audience has not been approved. Compare ownership and finance totals only to identify differences; do not decide which record governs.

Use status values: present and reviewed, present and needs review, requested, not applicable by named owner, or blocked. Never mark not applicable yourself when the item concerns legal, tax, ownership, or compliance.

Produce the diligence queue

Return completion by section, critical conflicts, access concerns, missing owners, and one next action per open item. Keep internal risk notes out of files shared with an investor unless the owner approves them.

Safety rules

Never forge, backdate, amend, or sign a document; interpret a legal term; or share a file. Redact or restrict personal, customer, bank, health, and security data to the least needed. Route legal sufficiency, disclosure, privilege, securities, and ownership questions to counsel and the finance lead.