The Comprehensive Data Room Document List

Overview

An organized data room is a crucial part of the fundraising process in providing the right information to investors conducting due diligence on your company.

This is especially important in the web3/crypto space, where financial value may be tied to tokens and thus place a stronger emphasis on areas such as tokenomics and cybersecurity.

We’ve assembled a comprehensive list of documents across all areas (business model/financials, go-to-market, product and technology, etc.) to include in your data room as you prepare for a fundraise. We first highlight the baseline documents and then other documents that investors would like to see if applicable. This is meant to be an exhaustive list to make sure everything is covered — if you can provide everything, you’ll definitely impress prospective investors!

Document List

General Legal, Corporate, & Compliance

• Cap table
• Investment deck
• Incorporation documents
• Entity org chart
• Regulatory overview
• Legal opinion (if applicable)
• List of patents, copyrights, and trademarks (if applicable)

Business Model / Financials / KPIs

• Historical P&L
• Financial model
• List of all revenue streams / projected revenue streams
• List of key KPIs — include actual data associated with KPI categories
• Tokenomics — token design, governance, allocations, and how value accrues to the token (if applicable)
• Unit economic breakdown (if applicable)
• Breakdown of total revenue by customer (if applicable)
• Breakdown of total revenue by product / revenue stream (if applicable)

Team

• Team member bios
• Org chart
• Proposed org chart with funds raised
• Near-term hiring roadmap
• ESOP / token compensation plan
• Employee contracts
• List of current candidates for active open roles
• List of current advisors and their contractual relationships to the Company

Market Analysis

• In-depth TAM analysis

Customers & Pipeline (For B2B Companies)

• Sales pipeline list with estimated ACVs
• Overview of customer onboarding process (if applicable)
• Customer list with associated AVCs (if applicable)
• Customer metrics, e.g., waitlists, beta users, etc. (if applicable)
• User engagement data, e.g., cohort analysis, DAU, MAU, D7 retention, etc. (if applicable)

Go-to-Market Strategy

• In-depth overview of GTM strategy
• Sales paraphernalia / marketing materials
• List of all acquisition channels
• List of all channel partners (if applicable)
• Customer case studies (if applicable)
• Links to all social and community channels, e.g., Twitter, Discord, Telegram, etc. (if applicable)

Material Contracts, Negotiations, and Arrangements

• All relevant or representative customer / pilot contracts and LOIs (if applicable)
• All relevant partner contracts (if applicable)

Partnerships

• List of all partners (if applicable)
• Integration / partner roadmap (if applicable)

Product and Technology

• Technology and architecture stack overview
• In-depth product roadmap
• Links to all key GitHub repositories
• Screenshot of all key GitHub repository contributors
• Test coverage report
• In-depth overview of competitive product moats and “secret sauces” (if
  applicable)
• Demo video (if applicable)
• API documentation (if applicable)
• Links to SDK (if applicable)
• Whitepaper (if applicable)
• Access to block explorer (if applicable)
• Audit reports or security assessments (if applicable)
• Node hardware specifications (if applicable)

Competition

• In-depth competitive landscape overview and differentiation analysis from each competitor

Fundraising

• Historical fundraising legal documents (term sheets, note agreements, SAFEs, etc.)

Disclaimer:

Struck Capital Management LLC is registered with the United States Securities and Exchange Commission (“SEC”) as a Registered Investment Adviser (“RIA”). Nothing in this communication should be considered a specific recommendation to buy, sell, or hold a particular security or investment. Past performance of an investment does not guarantee future results. All investments carry risk, including loss of principal.