This checklist is designed to help you an evaluate an investor’s fit for your business during your fundraising process. Use the questions here to help determine who you should be spending time with now and who you should politely de-prioritise, for the time being. Don’t forget, that a relationship with an investor is a long term and influential one – it is important to find the right investor for you. You shouldn’t be afraid to turn down money that isn’t right for you, if that is the best thing for your business. Think about your own priorities and add them to this checklist!
Universal Checks (Apply to all investors)
Fund & Mandate
- VActively deploying capital right now.
- VFund size matches your round (typical check = 10-20% of round)
- VInvests at your exact stage.
- VIf you are looking for a lead - can lead a round.
Decisions and Behaviours
- VYour conversations are progressing with decision makers, not just analysts.
- VClear timeline on the decision process.
- VQuestions are thoughtful and relevant.
- VNext steps after each meeting are clear.
Use these first – if an investor doesn’t meet these criterium, it’s time to politely de-prioritise. Don’t burn bridges – you may come back to these investors – but you shouldn’t spend time right now. Invite them to sign up to your newsletter, so that they can follow your progress.
Questions to ask
- “What stage do you typically lead at?”
- “Are you actively deploying capital right now?”
- “How do you normally make investment decisions?”
- “What does success look like for you in the first 12 months post-investment?”
Checklist for Deep Tech Investor Qualification
Use this to help you qualify deep-tech investors.
Technical & Domain Fit
- VProven track record in your technical domain.
- VAccess to technical advisors, labs, or industry experts.
- VUnderstands longer time horizons.
- VAble to evaluate real technical risk.
Value creation capability
- ”Has
- VStrong links to corporates, regulators, or industry buyers.
- VExperience with grants and blended finance.
- VWill actively help with follow-on fundraising.
Capital & Risk Appetite
- VComfortable funding milestone-based de-risking.
- VUnderstands capex-heavy or slower scaling models.
- VCan support larger future rounds.
IP & Trust
- VRespects IP boundaries.
- VNot invested in a direct competitor.
- VTransparent about overlaps.
Watch out for Red Flags
- Over focus on short-term revenue - pushes unrealistic timelines.
- Can't articulate your core technical risk.
- No relevant portfolio companies and week industry network.
- Deep probing of IP without context - hesitates to disclose conflicts.
Questions to ask
- “What technical risks do you typically underwrite?”
- “Which of your portfolio companies went through long R&D cycles?”
- “How do you support companies pre-revenue?”
- “How do you think about follow-on funding in capital-intensive businesses?”
Checklist for Software Investor Qualification
Use this to help you qualify software investors.
Market & Growth Alignment
- VInvests in your customer type and business model.
- VStrong pattern recognition in scaling software.
- VUnderstands your go-to-market motion.
Growth Support
- VCan help with: Hiring, Distribution/Partnerships, and International Expansion.
- VStrong founder references from Portfolio companies.
Speed & Momentum
- VFast decision-making and clear IC cadence.
- VCan move quickly once convinced.
Ownership
- VComfortable with target ownership and can write a meaningful cheque.
- VHas follow-on capabilities.
Watch out for Red Flags
- Doesn't understand your buyer or sales cycle.
- Hands-off post-investment.
- Weak operator network.
- Time consuming but providing a cheque that is too small to matter.
Questions to ask
- “What metrics do you care most about at our stage?”
- “How have you helped companies accelerate growth post-investment?”
- “What does a strong Series A/B look like to you?”
- “How do you support go-to-market and hiring?”