During the Fund phase, all of the Disclosure & Validation and Evaluation information is bought together into a formal business plan.
This includes additions to the delivery & management team where PIPE Associates confirm roles in the future Protégé Company and the creation of the Business Operational Readiness documentation.
At the end of this stage, there is a clearly defined Business Plan and business assessment document that includes all the relevant input and evidence requests relating to TRL, SRM & PRI plus the BOR planning documentation, technical roadmap, business roadmap, gap analysis and risk register.
In addition, there will be an available Term Sheet for investors and ALL closure documents from Shareholder Agreements and Employment Contracts to IP assignation and structural legal documentation.
Once all of this documentation is collated and all team members have confirmed roles and responsibilities, then the full business plan and supporting documentation is ready to be reviewed by the independent Investment Committee (IC) who will be seeing the proposition for the first time.
Protégé Companies that are successful, will enter a 30-day pre-investment or ‘cooling off’ period. This relatively short period provides time to ensure all formal documents are in placeand to allow for any objections or issues to be raised by PIPE DAO Fund holders before the funding is released.
It also allows for the Business Plan and investment profile to be issued on the blockchain and for future milestones and KPI’s to be immutably recorded against which ongoing investment relies.
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