OUR INVESTMENT PROCESS
We want to make sure our investment process is transparent so you know where we are at every step of the way. If we like your business and think we are a good fit we'll move as quickly as we can so you can get your investment and get back to building your company. This page gives you an overview of what our investment journey looks like and you can find more answers at our Investment FAQs.
Once you think you are ready for investment this is where our process starts. This just lets us collect the same high level information from all the companies we consider and one of our team will be in touch within about a week to let you know whether you meet enough of our investment criteria to set up a Pitch Meeting. We'll do our best to give you feedback either way. You can Apply Here and if you want more ideas on how to put forward a great application check out our Investment FAQs.
We've been impressed with your application so this is our chance to meet face to face. We'll be trying to understand more about your future vision while getting comfortable with your plans for today. We'll take a deeper dive into the problem you are solving, the size of your market, what customer engagement you've had, why you are the best team to succeed at this, all your key metrics, the business model, what help you need now to take your next steps and more. It's also your chance to ask us questions to make sure we are a good fit for your business. You can prepare for that by looking at How We Help beyond just the investment. If we are keen to move forward you'll hear from us within a week.
If the Pitch Meeting goes well, we'll be ready to get into the details of your business. We'll send a list of all the things we'd like to review and it's best if you have this ready to go in a document vault we can access. This might include product demos, analysis of your business forecast, reviews of your existing contractual documents and more meetings with members of your team and ours. Once you have everything ready for us this would usually take 2-3 weeks and if things are looking good we will start talking about terms of an investment through this process.
If we've made it this far we will be discussing the terms of our investment. We make sure we have a high level agreement with you before we take it to our Investment Committee for approval, at which point we can provide a formal Term Sheet. Our Term Sheet is based on the Australian Investment Council Open Source Term Sheet so you can get an idea of what it will include and should require minimal legal review for all to be able to sign.
We meet with our Investment Committee once a month. They will be aware of the investment journey we've been on up until this point and once we have agreed high level terms with you will be discussing with our IC to make sure our team is on board with the investment. At this stage we'll present our Term Sheet and if you sign we can move to closing and get you the money.
Once we have signed Terms we'll want to close the investment as quick as we can so you are back to building the business. This will include getting closing documents ready for everyone to sign. We have some templates we can use if that helps but these documents will include a Subscription Agreement, likely an updated Constitution and Shareholders Agreement and maybe a few others (for example Executive Services Agreements, IP Deeds etc). We'll then transfer the money and it's time to grow.
Welcome to the Purpose Ventures Community! You're now part of our portfolio and we are all-in to help you build your company. Here's a reminder of How We Help beyond just the money. We'll provide some onboarding so you know how to access out team, meet other founders in our network and access resources from our playbook to help with all aspects of scaling your business.