Your data room with a fund
See what the fund still needs for diligence, upload files to the folders it shared, answer items without a file, and ask questions, all from the Files tab.
When a fund moves into diligence, it may open a data room for your company. You'll find it in your workspace on the fund's site, under Files. You don't sign anything to use it.
What's needed
The What's needed tab lists what the fund asked for:
| Group | Meaning |
|---|---|
| Waiting on you | Changes requested items first, then by due date |
| Sent to the fund | Sent or With the fund: the fund will review it |
| Done | The fund has what it needs |
The bar at the top shows how many items you've sent. When the fund asks for a change, its note shows on the item under What the fund asked to change.
Upload a file
- On an item, tap Upload and choose one or more files. If the item has no folder, choose one first.
- Or open Files, pick a folder and tap Upload files, or drop files onto the list.
- Each file shows its own progress. If one fails, tap Retry (large files carry on from where they stopped). Keep the page open until uploads finish.
Accepted: PDF, XLSX, XLS, CSV, DOCX, DOC, TXT, PPTX, PPT, PNG or JPG, up to 200 MB each, 25 at a time. Folders marked View only are for you to read; ask the fund if you need to upload there.
Answer without a file
Some items don't apply, or you'd rather share them later. On the item, tap Answer without a file, choose Not applicable or Will share after the term sheet, add a short note and tap Send answer. The fund reviews your answer like a file.
Versions and the virus check
Every file goes to private storage and is checked for viruses first:
| Label | Meaning |
|---|---|
| Checking | Usually under a minute. The page updates on its own |
| Ready | Clean. You and the fund can open it |
| Blocked or Couldn't check | Not accepted. Upload a clean copy |
To replace a file, open it and tap Upload a new version. Earlier versions stay listed, so everyone can see what changed.
Questions
Tap Questions on an item, or open a file, to ask the fund something or reply. Messages from the fund's team show as "The fund". Questions about a file are tied to the version you were looking at.
Frequently asked questions
Who can see my files?
The fund's team, and only people it chooses to share specific folders with, such as its lawyers or a co-investor, for a limited time. Ask the fund if you want to know who has access.
The room says Closed. What does that mean?
You can still open your files, but uploads and answers are paused until the fund opens the room again.
Can my co-founder use the room too?
Only if the fund gives them access. Ask the fund.
Something unclear or missing? Tell us