Our selection process is as follows:
- We will review up to a maximum three-page executive summary. We will not review longer submissions at the initial stage. Accordingly, we also will not consider full business plans at this stage. If selected for further review, we will request more information.
- Our investment committee chooses the ones for further follow up. As a courtesy, we will promptly notify those who are not chosen, but will leave the door open to doing business together in the future.
- For those selected for follow up, we recommend a candid introductory call, which will give us the opportunity to get to know one another. At this stage, we often tell prospective clients that it is imperative they believe in their large opportunity and or their positive cash flow will continue, and that they will not need equity dollars on a short-term basis after initially accessing public markets and before the valuation is right (so dilution is minimized). If this is not the case, then they should “not walk from us right now, rather they should run.” It is not our desire, to be involved in financings in public equity markets under duress. We firmly believe that this is the wrong time to utilize public markets and can often lead to disastrous results. Such candidates are not the right fit for us, nor we for them.