One effective way to move investors along in diligence, particularly once they're under CDA & clearly interested, is to offer up some next steps. "We're happy to put in you in touch with some of our scientific advisors." "We could do a call on our SAR if that would help." 1/5
...When mgt offers up explicit next steps, they save investors time in terms of coming up with their own list and then reaching out to ask. Throwing in something like (if true), "this has been helpful for other groups" or "they've agreed to speak with other investors" clues...2/5
...ppl into what competing VCs think are relevant lines of inquiry, & also signals that others are excited - that's a good thing! Of course, having a more fulsome deck that can be reviewed under CDA is a first step, but these tactics can help shorten the time to doing...3/5
...further work. Also, consider sending papers & other public info along if the VC is interested or making these downloadable from your data room (without an annoying watermark). Data rooms that treat public info as super-confidential slow people down unnecessarily. 4/5
...Finally, check in frequently & update inv's if you get new data, if others are getting close to submitting a TS, etc. If one email goes unanswered, may not = lack of interest; but after a couple, may make sense to focus away from that group to those doing real work. 5/5
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