Once you think you are ready for investment this is where our process starts. Check out the “What We Are Looking For” section so you can give great answers to the questions.
Our team will review this and within about a week -let you know if you meet our investment criteria. If successful we will set up a pitch session to come and meet the team.
3. Preliminary Due Diligence
If we like your pitch we’ll sign an NDA and then ask you for documentation to review. This will include things like your business model, shareholders agreement, list of existing shareholders and more. We normally take 2-3 weeks to review this once we have everything we have asked for.
If that all looks good we’ll discuss the draft terms of our investment before presenting a terms sheet.
If we all agree on the terms we’ll complete our final due diligence and work with you to close your funding round, get all the documents you need to make that happen and transfer the money.
We’ve seen the written application and this is your chance to give us the face to face version.
The pitch session will go for an hour where you will pitch for about 30 minutes allowing us to have 30 mins for questions.
Please make sure what you are pitching is consistent with what you said in your application.
4. Terms Sheet
We have an Investment Committee that needs to approve all investments that we make. We work with them to finalise the approval of our investment as well as the details of the terms that we will present.
Once ready you will receive a simple terms sheet that we think is very Founder friendly. It is based on the Australian Investment Council templates and covers how much we will invest, our agreement on company valuation, and then some key points we need to see in the shareholders agreement if we move forward.
6. Accelerate Your Business
At this point you are part of the BetterLabs community and we do what we can to help you build the company as big and as fast as possible.