• Detailed financial statements
• Financial projections
• Customer information
• Contracts
• Employee information
• IP documentation
• Legal documents
• Tax records
• Corporate governance documents

Growth and Later-Stage Fundraising

At later stages, investors may conduct substantially deeper diligence.

The data room can include:

• Historical financial statements
• Detailed management accounts
• Revenue analysis
• Customer concentration
• Debt information
• Material contracts
• Litigation
• IP portfolios
• Employment documentation
• Regulatory records
• Security and compliance documentation

The key is to prepare according to the likely diligence requirements rather than uploading every document the company owns.

What Should Be Included in an Investor Data Room?

A good investor data room should be comprehensive enough to answer reasonable diligence questions without becoming an unorganized document dump.

1. Corporate Documents

Include:

• Certificate of incorporation
• Articles of association
• Corporate structure
• Board resolutions
• Shareholder information
• Cap table
• Governance documents

2. Financial Information