Setting up systems, adhering to all financial and legal requirements and transparency will help a venture sail through an increasingly complex due diligence process. Tight-fisted investors are taking longer to close deals at startups as they become more alive to the lurking risks. Where even a couple of years ago, they were content at evaluating just the audited book of accounts, they now insist on sifting through minute details of a business.
“At a software venture we found out that the founder had to leave his previous company due to problems with customers; the investment did not happen,” said Sanchit Vir Gogia, CEO of Greyhound Knowledge Group, who conducts due diligence on behalf of investors.
To read the Full Article, click here: Economic Times
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