Due Diligence Hellfire

Definition

The phase between term sheet and closing where investors suddenly realize they haven't actually verified anything and demand 10,000 documents.

Example Usage

We're in due diligence hellfire with our Series B investors who are suddenly very concerned about our cap table accuracy and customer references.

Origin

Startup vernacular for the intense investigation phase.

Fun Fact

Most startups discover major issues during due diligence that somehow weren't 'critical' during the pitch phase.

Source: Startup fundraising and venture capital

Related Terms

Beginner

Accelerator

A fixed-term program that accelerates startup growth through mentorship, resources, and the crushing pressure of a demo day deadline. It's like a pressure cooker for companies -- some come out perfectly cooked, and some just explode.

🚀 Startup / VC

Intermediate

exit

In startup land, the glorious moment when founders and investors finally cash out, either through acquisition or IPO, turning years of ramen dinners and sleepless nights into actual money. It's the entrepreneurial equivalent of winning the lottery, except you had to build the lottery first. Every VC's favorite word and every founder's obsession after their Series A.

🚀 Startup / VC

Advanced

Waterfall Rights

The order in which classes of stock get paid in an exit event, determining who gets what money from the sale. The reason cap table lawyers exist and make inexplicably high hourly rates.

🚀 Startup / VC

Intermediate

Hockey Stick

A growth chart that shows flat revenue followed by a sudden exponential spike, resembling a hockey stick if you squint and ignore the part where most startups never reach the blade. It's the most fictional graph in pitch decks since the invention of PowerPoint.

🚀 Startup / VC

Beginner

Disrupt

To fundamentally alter an existing market or industry with a new approach. Every startup claims to 'disrupt' something, and 99% of them are just adding a mobile app to an existing business model.

🚀 Startup / VC

Beginner

Founder

The person who started a company and will remind you of this fact in every meeting, email signature, and LinkedIn post until the heat death of the universe. They wear the title like a crown, even when the kingdom is a WeWork desk and two interns.

🚀 Startup / VC

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