Phase 1

If your business is based in Vermont, is a scalable venture, and can satisfy all of the criteria for this phase we invite you to complete our initial questionnaire to tell us about your business and capital needs.

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Criteria

  • We require an operating agreement and a letter of good standing and your business must be a C-Corporation for us to purchase shares of equity or be willing to convert to a C-Corp for us to purchase a convertible note or SAFE

  • Term sheet, convertible note, or SAFE including interest rate, conversion criteria, valuation or valuation cap, discounts and preferences

  • A basic pro forma that includes historical and projected revenue and expenses

  • Overview of the company, founders, advisors, product or service, market opportunity, customer acquisition strategy, competitive analysis and risk factors

  • Overview of how your business will create economic impact in Vermont

  • Bios and company roles for key members of the founding team and advisors

  • A capital plan and exit strategy that includes milestones and industry comparisons

Phase 2

We will review the information you shared through our questionnaire and follow up with an email indicating next steps. At this phase we will either invite you to an initial meeting or let you know that we are not interested in pursuing the opportunity. If your business is not a good fit for us, we will do our best to connect you with people who can provide the support you need.

Phase 3

If we determine that you are a good fit for our fund and network we will either start the process of due diligence or give you a clear outline of what we will need before we proceed. To begin the due diligence process we will need access to a folder or “room” with the criteria from Phase 1 and the additional criteria listed here.

 

Criteria

  • Detailed financial model that breaks down revenue by source and expenses by category for the next 3 years

  • Monthly and/or Year to Date balance sheet and P&L

  • A spreadsheet that lists all the securities issued by your business and who owns them

  • At least 2 references per founder with significant work experience

  • Standard background check

  • Schedule of compensation for all executives and advisors

  • Market study, competitive landscape analysis, and resulting Go To Market (customer acquisition) strategy

  • Detailed sales pipeline, ACV (average contract value) and copies of contracts or MOUs for large customers

  • List and description of patents filed and/or pending

Phase 4

 

If the diligence process confirms that your business is a good fit for our fund we will make a recommendation to our Investment Committee who will review the opportunity and either approve the investment, request additional information, or decline the investment. Once approved we will close as soon as you are ready.

Phase 5

 

If we make an investment in your company we become part of your team. We will connect you with our network of highly experienced business people to provide general mentorship and specific guidance based on your needs. We will connect you with the talent, resources and capital you need to scale your business and create impact in Vermont.