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LIFE SCIENCE ANGELS : Dealflow process

Overview of the dealflow process, due diligence, deal memo, and syndication steps.
by

Faz Bashi

on 24 December 2014

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Transcript of LIFE SCIENCE ANGELS : Dealflow process

Screening Committees for :

(1) Digital Health & Sciences
(2) Medical Device
(3) Biotech / Pharma

PODIO
Activity stream
All Podio apps deliver information and updates to the Activity stream. Commenting and LIKE-ing any item
percolates
it to the
TOP
of the Activity list
PODIO
INComing !
Entrepreneur completes via a link provided by LSA Committee members. Basic information and documents help with decision to ask for more info via Submission.

*URL provided by invitation only.
Every interested members can invite the entrepreneur for a phone call (15 minutes) or an in-person meeting (30 minutes) to review the basics of the opportunity. Pre-Screening form should be completed during or after your conversation with the entrepreneur. If members show interest, then the next step is to request basic information via the InComing form.

* Form available in Podio
PODIO
Pre-Screening
#2 :
Entrepreneur completes
#1 :
Members complete
PODIO
Submission
#3 :
Entrepreneur completes
If there is sufficient interest after Pre-Screening/InComing, then the entrepreneur will be asked to provide more information before they are considered for a pitch to the Screening Committee.

* URL provided by invitation only.
Members complete individually or together at the bi-monthly screening meetings in SF or PA; only 1 completed Screening form needed, followed by individual comments from Committee members.

Feedback from the committee members on this opportunity will help determine next step in a Go-No Go decision, and in conducting Due Diligence.

* Form available in Podio
PODIO
Screening
#4 :
Members complete
PODIO
Go-No-Go

Members complete together (only 1 completed G-N-G form needed followed by individual comments) who are interested in learning more about the opportunity will schedule a 60 - 90 minute meeting with entrepreneur(s).

The Deal Lead will guide the conversation around the topics listed in the form. After the entrepreneur leaves the room the members will deliberate and complete the form together.

The next step is Due Diligence.

* Form available in Podio
#5 :
Members complete
#6A :
Entrerpreneur completes
Podio
DD2 Company

The Chair/Co-Chair will send the due diligence checklist link to the company.

All information will be kept
CONFIDENTIAL
.





* URL provided by invitation only.
#6B :
Members complete
Podio
DD4 Angels
Members: Deal Lead and Deal Director complete 1 form together with other interested members. Individuals can add comments.

Form outlines all areas that should be covered week-by-week during due diligence process

* Form available in Podio
#6C :
Fellows complete
Podio
DD4 Fellows
Fellow(s) in Entrepreneurship complete 1 form. Members add comments.

Areas to be covered are Market Opportunity, Competition, Value Proposition, and Barriers to Entry


* Form available in Podio
#6D :
Members complete
Podio
DD REF CK
Members: Deal Lead and Deal Director complete 1 form. All other members can add comments

The phone call or in-person meeting should be conducted by the Member Deal Lead and Deal Director

* Form available in Podio
#7 :
Members complete
Podio
DEAL MEMO
Members: Deal Lead and Deal Director complete 1 form. All interested members can add comments.

Termsheet discussions will have happened concurrent to the due diligence steps.

A 3-5 page summary of the due diligence process which we will share with other Angel/Angel groups who want to participate in the next step for Syndication.


* Form available in Podio
#8 :
Members complete
Podio
Dinner Biz
Members complete 1 form. Additional comments from interested members added to the form

Notes and comments from the Dinner Meeting which may be of help to those attending the DD luncheon

* Form available in Podio
#9 :
Members complete
Podio
DD Luncheon
Members complete 1 form.

Notes and comments from the Luncheon at WSGR



* Forms available in Podio
#10 :
Members complete
Podio
Syndication
Members: Chair/Co-Chair, Deal Lead and Deal Director complete 1 form. Additional comments added to form.

Notes and comments on syndication efforts


* Forms available in Podio
#11 :
Entrepreneur completes
Podio
F/U Reports
Entrepreneur completes along with quarterly reports





* URL provided by invitaton
DEALFLOW PROCESS :
PODIO

PODIO : Getting a Deal into the Pipeline
PODIO : Steps in Due Diligence
PODIO :
Deal Memo, Termsheet, Dinner, Luncheon, Syndication, Follow up Reports
Full transcript