What we'll ask for after a first call.
None of this is needed to submit a pitch. If we move to diligence, we ask for a company file covering twelve areas. Requirements scale with stage, so a pre-seed company isn't expected to show production history or retail velocity. "Not yet" is an acceptable answer where it's honest.
Our co-investors rely on what you give us.
When we lead a seed round through an SPV, we share your company's information with the investors who join it. That information has to be clear, complete, concise, correct, credible, and compelling. The file is how we get there together.
Twelve areas, by stage.
Shared under a mutual NDA, usually through a data room or shared folder.
| Area | Pre-seed | Seed |
|---|---|---|
| Cap table | Current ownership, every holder | Fully diluted, including option pool |
| Instruments | Any SAFEs or notes outstanding, or "none" | Every SAFE, note, and warrant, with terms |
| Financials | Bank statements and a simple P&L | Monthly P&L, balance sheet, and cash flow |
| Unit economics | Target cost and margin model | Actual landed cost and margin by channel |
| Production | Co-packer identified or quoted | Signed agreement, capacity, and run history |
| IP and the label | Trademark filings and formula ownership | Registered marks and label compliance review |
| Velocity | Early sell-through, or "not yet" | Units per store per week, reorders, repeat rate |
| Distribution | Target accounts and route to market | Active accounts and distributor terms |
| Use of funds | What this round buys, and by when | What this round buys, and by when |
| Lessons | Optional | What hasn't worked, and what changed |
| Existing investors and promises | Every commitment made to investors or partners | Every commitment made to investors, partners, or employees |
| Fact sheet | One page on the company and the ask | One page on the company and the ask |
Want help building your file?
These are optional and separate from CLMB Ventures. Buying them has no effect on whether or how we invest.
Our internal review
CLMB's diligence uses the Seed File framework: a structured look at ownership, instruments, financials, unit economics, production, IP, velocity, distribution, use of funds, and commitments to existing investors. It tells us whether the company's numbers and paper support the story in the deck. It's part of our diligence and never costs founders anything.
Scalewrights resources
Scalewrights, an advisory practice founded by Scott Kimball, sells tools for founders preparing to raise: a free Diligence Assessment, The Seed File™ playbook ($99), and a Seed File Review ($1,750). They're useful for any investor conversation, not just ours.
Scalewrights receives the fees for its products and doesn't take equity, success fees, or a percentage of any raise. See Disclosures.